Fiera Capital Corp acquired a new position in W. P. Carey Inc. (NYSE:WPC) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,831 shares of the real estate investment trust’s stock, valued at approximately $413,000.
A number of other large investors have also recently added to or reduced their stakes in WPC. Alpha DNA Investment Management LLC bought a new position in shares of W. P. Carey in the fourth quarter valued at approximately $28,000. Selective Wealth Management Inc. bought a new position in W. P. Carey in the 1st quarter worth $31,000. Cowa LLC bought a new position in W. P. Carey in the 4th quarter worth $35,000. Highlander Capital Management LLC acquired a new position in W. P. Carey during the 4th quarter worth $35,000. Finally, Sittner & Nelson LLC acquired a new position in W. P. Carey during the 4th quarter worth $35,000. Hedge funds and other institutional investors own 56.23% of the company’s stock.
A number of research analysts have weighed in on WPC shares. Evercore ISI raised shares of W. P. Carey from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $77.00 to $80.00 in a research report on Monday, May 3rd. Zacks Investment Research raised shares of W. P. Carey from a “sell” rating to a “hold” rating in a research report on Tuesday, April 13th. Finally, Bank of America reissued an “underperform” rating on shares of W. P. Carey in a research report on Tuesday, April 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $77.50.
W. P. Carey (NYSE:WPC) last announced its quarterly earnings data on Thursday, April 29th. The real estate investment trust reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.43). The company had revenue of $306.17 million for the quarter, compared to analyst estimates of $307.61 million. W. P. Carey had a net margin of 36.39% and a return on equity of 6.42%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.25 EPS. Equities research analysts predict that W. P. Carey Inc. will post 4.76 earnings per share for the current year.
W. P. Carey Company Profile
W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $18 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,215 net lease properties covering approximately 142 million square feet as of September 30, 2020. For nearly five decades, the company has invested in high-quality single-tenant industrial, warehouse, office, retail and self-storage properties subject to long-term net leases with built-in rent escalators.
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