Vanguard Group Inc. Boosts Position in W.P. Carey Inc. (WPC)
Vanguard Group Inc. increased its position in shares of W.P. Carey Inc. (NYSE:WPC) by 6.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,057,575 shares of the company’s stock after buying an additional 855,152 shares during the period. Vanguard Group Inc. owned about 14.32% of W.P. Carey worth $1,045,297,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp increased its position in W.P. Carey by 2.6% in the first quarter. State Street Corp now owns 1,611,987 shares of the company’s stock worth $100,330,000 after buying an additional 41,380 shares during the last quarter. Dimensional Fund Advisors LP increased its position in W.P. Carey by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,277,323 shares of the company’s stock worth $88,671,000 after buying an additional 16,219 shares during the last quarter. Geode Capital Management LLC increased its position in W.P. Carey by 3.9% in the first quarter. Geode Capital Management LLC now owns 616,225 shares of the company’s stock worth $38,353,000 after buying an additional 23,348 shares during the last quarter. BlackRock Group LTD increased its position in W.P. Carey by 0.9% in the first quarter. BlackRock Group LTD now owns 604,266 shares of the company’s stock worth $37,610,000 after buying an additional 5,335 shares during the last quarter. Finally, Royal Bank of Canada increased its position in W.P. Carey by 20.2% in the first quarter. Royal Bank of Canada now owns 577,132 shares of the company’s stock worth $35,921,000 after buying an additional 96,985 shares during the last quarter. Institutional investors own 47.84% of the company’s stock.
W.P. Carey Inc. (NYSE:WPC) traded up 0.09% on Wednesday, reaching $64.96. 21,372 shares of the company’s stock traded hands. The company has a market cap of $6.87 billion, a PE ratio of 38.21 and a beta of 0.92. W.P. Carey Inc. has a 12 month low of $51.12 and a 12 month high of $72.89. The firm’s 50 day moving average price is $67.16 and its 200 day moving average price is $65.39.
W.P. Carey (NYSE:WPC) last issued its earnings results on Thursday, August 4th. The company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.65. W.P. Carey had a net margin of 19.50% and a return on equity of 5.13%. The firm had revenue of $198.80 million for the quarter, compared to analysts’ expectations of $184.64 million. During the same quarter last year, the business earned $1.31 earnings per share. The business’s revenue was up 1.4% on a year-over-year basis. On average, equities analysts expect that W.P. Carey Inc. will post $2.20 EPS for the current fiscal year.
WPC has been the topic of a number of research reports. Zacks Investment Research upgraded shares of W.P. Carey from a “hold” rating to a “strong-buy” rating and set a $82.00 target price on the stock in a research report on Thursday, July 28th. Citigroup Inc. upped their price objective on shares of W.P. Carey from $54.00 to $59.00 and gave the stock a “sell” rating in a report on Thursday, July 7th. Finally, BMO Capital Markets restated a “hold” rating on shares of W.P. Carey in a report on Thursday, June 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $71.63.
About W.P. Carey
W. P. Carey provides long-term, sale-leaseback and build-to-suit transactions for companies worldwide, and manages a global investment portfolio. It has two primary business segments. Under the investment management segment, the Company earns revenue as the advisor to publicly owned, non-actively traded real estate investment trusts (REITs), which are sponsored by the Company under the Corporate Property Associates brand name (the CPA REITs) and invests in similar properties.
Receive News & Ratings for W.P. Carey Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for W.P. Carey Inc. and related companies with MarketBeat.com's FREE daily email newsletter.