NEXT Financial Group Inc raised its position in WP Carey Inc (NYSE:WPC) by 2,431.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 8,885 shares of the real estate investment trust’s stock after acquiring an additional 8,534 shares during the period. NEXT Financial Group Inc’s holdings in WP Carey were worth $581,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. lifted its holdings in WP Carey by 24.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 72,624 shares of the real estate investment trust’s stock valued at $4,745,000 after acquiring an additional 14,387 shares during the period. Guyasuta Investment Advisors Inc. bought a new position in shares of WP Carey in the fourth quarter worth about $238,000. Bruderman Asset Management LLC raised its stake in shares of WP Carey by 71.7% in the fourth quarter. Bruderman Asset Management LLC now owns 3,407 shares of the real estate investment trust’s stock worth $223,000 after buying an additional 1,423 shares during the period. Bank of New York Mellon Corp raised its stake in shares of WP Carey by 83.1% in the fourth quarter. Bank of New York Mellon Corp now owns 1,217,146 shares of the real estate investment trust’s stock worth $79,527,000 after buying an additional 552,238 shares during the period. Finally, Sage Capital Advisors llc bought a new position in shares of WP Carey in the fourth quarter worth about $26,000. 42.30% of the stock is currently owned by institutional investors.
NYSE WPC opened at $73.56 on Friday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.18 and a current ratio of 0.18. WP Carey Inc has a 52 week low of $59.45 and a 52 week high of $75.75. The stock has a market capitalization of $12.04 billion, a PE ratio of 13.82 and a beta of 0.64.
WP Carey (NYSE:WPC) last posted its quarterly earnings data on Friday, February 22nd. The real estate investment trust reported $1.33 EPS for the quarter, topping the 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 firm had revenue of $273.40 million for the quarter, compared to the consensus estimate of $283.87 million. During the same quarter last year, the company earned $1.18 earnings per share. The business’s revenue for the quarter was up 39.0% compared to the same quarter last year. On average, equities analysts predict that WP Carey Inc will post 5 EPS for the current fiscal year.
WPC has been the topic of several recent research reports. Zacks Investment Research raised WP Carey from a “sell” rating to a “hold” rating in a research note on Saturday, January 26th. JPMorgan Chase & Co. initiated coverage on WP Carey in a research note on Wednesday, December 19th. They issued a “neutral” rating and a $73.00 price objective on the stock. Finally, ValuEngine raised WP Carey from a “hold” rating to a “buy” rating in a research note on Friday, December 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. WP Carey currently has an average rating of “Hold” and a consensus price target of $70.81.
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WP Carey 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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