Pring Turner Capital Group Inc. raised its holdings in W.P. Carey Inc. (NYSE:WPC) by 7.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 36,355 shares of the real estate investment trust’s stock after acquiring an additional 2,585 shares during the period. W.P. Carey comprises about 2.4% of Pring Turner Capital Group Inc.’s investment portfolio, making the stock its 27th largest holding. Pring Turner Capital Group Inc.’s holdings in W.P. Carey were worth $2,400,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of WPC. Ffcm LLC grew its stake in W.P. Carey by 179.3% in the second quarter. Ffcm LLC now owns 1,701 shares of the real estate investment trust’s stock valued at $115,000 after acquiring an additional 1,092 shares during the period. Bruderman Asset Management LLC acquired a new position in W.P. Carey in the second quarter valued at about $115,000. QCI Asset Management Inc. NY grew 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 acquiring an additional 1,078 shares during the period. Schroder Investment Management Group acquired a new position in W.P. Carey in the second quarter valued at about $128,000. Finally, WFG Advisors LP grew 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 acquiring an additional 1,440 shares during the period. 48.76% of the stock is owned by hedge funds and other institutional investors.
W.P. Carey Inc. (WPC) traded up 0.04% on Monday, hitting $69.69. The stock had a trading volume of 71,184 shares. The company has a 50-day moving average price of $68.05 and a 200-day moving average price of $65.26. W.P. Carey Inc. has a 52 week low of $55.77 and a 52 week high of $70.38. The stock has a market capitalization of $7.45 billion, a price-to-earnings ratio of 26.83 and a beta of 0.88.
W.P. Carey (NYSE:WPC) last posted its quarterly earnings data on Friday, August 4th. The real estate investment trust reported $0.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.15 by ($0.56). W.P. Carey had a return on equity of 8.10% and a net margin of 34.97%. The business had revenue of $221.52 million during the quarter, compared to the consensus estimate of $221.19 million. During the same period last year, the business posted $1.24 earnings per share. The business’s revenue was up 1.1% on a year-over-year basis. Equities research analysts anticipate that W.P. Carey Inc. will post $2.23 earnings per share for the current fiscal year.
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A number of research analysts have issued reports on the company. Wells Fargo & Company reissued a “market perform” rating and issued a $69.00 target price (up from $59.50) on shares of W.P. Carey in a research note on Friday, June 16th. Ladenburg Thalmann Financial Services reissued a “hold” rating on shares of W.P. Carey in a research note on Friday, June 16th. ValuEngine cut W.P. Carey from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub cut W.P. Carey from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 10th. Finally, Evercore ISI cut W.P. Carey from an “in-line” rating to an “underperform” rating and set a $64.00 price objective for the company. in a research report on Monday, June 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $67.75.
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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