Bruderman Asset Management LLC Acquires New Stake in W.P. Carey Inc. (WPC)
Bruderman Asset Management LLC acquired a new position in shares of W.P. Carey Inc. (NYSE:WPC) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,744 shares of the real estate investment trust’s stock, valued at approximately $115,000.
Other hedge funds have also recently bought and sold shares of the company. Ffcm LLC raised its holdings in W.P. Carey by 179.3% during the second quarter. Ffcm LLC now owns 1,701 shares of the real estate investment trust’s stock worth $115,000 after acquiring an additional 1,092 shares in the last quarter. QCI Asset Management Inc. NY raised its stake in W.P. Carey by 148.7% in the second quarter. QCI Asset Management Inc. NY now owns 1,803 shares of the real estate investment trust’s stock valued at $119,000 after buying an additional 1,078 shares during the period. Schroder Investment Management Group bought a new stake in W.P. Carey in the second quarter valued at approximately $128,000. WFG Advisors LP raised its stake in W.P. Carey by 159.3% in the first quarter. WFG Advisors LP now owns 2,344 shares of the real estate investment trust’s stock valued at $146,000 after buying an additional 1,440 shares during the period. Finally, Penserra Capital Management LLC raised its stake in W.P. Carey by 64.0% in the first quarter. Penserra Capital Management LLC now owns 2,608 shares of the real estate investment trust’s stock valued at $162,000 after buying an additional 1,018 shares during the period. 48.91% of the stock is owned by institutional investors.
WPC has been the topic of a number of recent research reports. Ladenburg Thalmann Financial Services reiterated a “hold” rating on shares of W.P. Carey in a research note on Friday, September 1st. BidaskClub raised W.P. Carey from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 19th. Wells Fargo & Company reissued a “market perform” rating and set a $69.00 price target (up previously from $59.50) on shares of W.P. Carey in a research report on Friday, June 16th. Evercore ISI downgraded W.P. Carey from an “in-line” rating to an “underperform” rating and set a $64.00 price target on the stock. in a research report on Monday, June 12th. Finally, ValuEngine downgraded W.P. Carey from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. W.P. Carey currently has a consensus rating of “Hold” and a consensus price target of $67.75.
Shares of W.P. Carey Inc. (WPC) traded down 0.94% during mid-day trading on Friday, hitting $68.81. The stock had a trading volume of 66,765 shares. W.P. Carey Inc. has a 1-year low of $55.77 and a 1-year high of $70.38. The stock’s 50-day moving average is $68.02 and its 200 day moving average is $65.22. The firm has a market capitalization of $7.36 billion, a price-to-earnings ratio of 26.50 and a beta of 0.88.
W.P. Carey (NYSE:WPC) last announced its earnings results on Friday, August 4th. The real estate investment trust reported $0.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.15 by ($0.56). W.P. Carey had a net margin of 34.97% and a return on equity of 8.10%. The business had revenue of $221.52 million for the quarter, compared to the consensus estimate of $221.19 million. During the same period in the prior year, the business posted $1.24 EPS. W.P. Carey’s revenue for the quarter was up 1.1% on a year-over-year basis. Equities research analysts predict that W.P. Carey Inc. will post $2.23 EPS for the current fiscal year.
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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.
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