Portfolio Solutions LLC acquired a new position in shares of WP Carey Inc (NYSE:WPC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,192 shares of the real estate investment trust’s stock, valued at approximately $78,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of WP Carey by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 15,410,572 shares of the real estate investment trust’s stock valued at $991,053,000 after buying an additional 44,898 shares in the last quarter. Vanguard Group Inc grew its position in WP Carey by 0.3% during the 3rd quarter. Vanguard Group Inc now owns 15,410,572 shares of the real estate investment trust’s stock worth $991,053,000 after acquiring an additional 44,898 shares during the last quarter. BlackRock Inc. grew its position in WP Carey by 1.7% during the 3rd quarter. BlackRock Inc. now owns 7,348,203 shares of the real estate investment trust’s stock worth $472,564,000 after acquiring an additional 119,652 shares during the last quarter. Dimensional Fund Advisors LP grew its position in WP Carey by 0.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,596,483 shares of the real estate investment trust’s stock worth $102,669,000 after acquiring an additional 12,442 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in WP Carey by 45.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,512,424 shares of the real estate investment trust’s stock worth $97,263,000 after acquiring an additional 474,831 shares during the last quarter. 42.30% of the stock is currently owned by institutional investors and hedge funds.
Shares of WPC opened at $76.73 on Thursday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.18 and a quick ratio of 0.18. WP Carey Inc has a one year low of $60.50 and a one year high of $77.43. The firm has a market capitalization of $12.83 billion, a P/E ratio of 14.24 and a beta of 0.64.
WP Carey (NYSE:WPC) last issued its quarterly earnings data on Friday, February 22nd. The real estate investment trust reported $1.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.03. WP Carey had a return on equity of 8.78% and a net margin of 39.03%. The company had revenue of $273.40 million during the quarter, compared to analyst estimates of $283.87 million. During the same quarter in the previous year, the company posted $1.18 earnings per share. WP Carey’s revenue was up 39.0% compared to the same quarter last year. Equities research analysts predict that WP Carey Inc will post 5 EPS for the current fiscal year.
A number of brokerages have recently weighed in on WPC. ValuEngine upgraded WP Carey from a “hold” rating to a “buy” rating in a research report on Friday, December 21st. JPMorgan Chase & Co. began coverage on WP Carey in a research report on Wednesday, December 19th. They issued a “neutral” rating and a $73.00 price objective on the stock. Capital One Financial reiterated an “equal weight” rating on shares of WP Carey in a research report on Tuesday, March 5th. Finally, Zacks Investment Research upgraded WP Carey from a “sell” rating to a “hold” rating in a research report on Friday, March 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $70.81.
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WP Carey Company Profile
Celebrating its 45th anniversary, W. P. Carey ranks among the largest diversified net lease REITs with an enterprise value of approximately $17 billion and a portfolio of operationally-critical commercial real estate that includes 1,186 net lease properties covering approximately 133 million square feet.
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