Trading Report: Today, Mizuho Trust & Banking Co. Ltd. Increases Stake in W.P. Carey Inc. (WPC)

Today, Mizuho Trust & Banking Co. Ltd. Increases Stake in W.P. Carey Inc. (WPC)

Mizuho Trust & Banking Co. Ltd. boosted its stake in W.P. Carey Inc. (NYSE:WPC) by 38.9% during the third quarter, Holdings Channel reports. The firm owned 26,120 shares of the company’s stock after buying an additional 7,315 shares during the period. Mizuho Trust & Banking Co. Ltd.’s holdings in W.P. Carey were worth $1,686,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WPC. Renaissance Technologies LLC purchased a new position in W.P. Carey during the first quarter valued at about $16,151,000. Legal & General Group Plc increased its position in W.P. Carey by 6.6% in the first quarter. Legal & General Group Plc now owns 169,079 shares of the company’s stock valued at $10,524,000 after buying an additional 10,522 shares during the period. Barclays PLC increased its position in W.P. Carey by 48.4% in the first quarter. Barclays PLC now owns 15,685 shares of the company’s stock valued at $972,000 after buying an additional 5,114 shares during the period. 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 valued at $35,921,000 after buying an additional 96,985 shares during the period. Finally, Laffer Investments increased its position in W.P. Carey by 13.0% in the first quarter. Laffer Investments now owns 10,933 shares of the company’s stock valued at $680,000 after buying an additional 1,254 shares during the period. 48.18% of the stock is owned by institutional investors and hedge funds.

Shares of W.P. Carey Inc. (NYSE:WPC) traded up 0.51% on Friday, reaching $58.99. 127,637 shares of the company traded hands. W.P. Carey Inc. has a 52-week low of $51.12 and a 52-week high of $72.89. The firm has a 50-day moving average of $59.90 and a 200-day moving average of $65.31. The company has a market capitalization of $6.27 billion, a PE ratio of 23.32 and a beta of 0.90.

W.P. Carey (NYSE:WPC) last issued its earnings results on Thursday, November 3rd. The company reported $1.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.20 by $0.17. W.P. Carey had a return on equity of 7.71% and a net margin of 30.17%. The company earned $204.20 million during the quarter, compared to analyst estimates of $176.33 million. During the same period in the prior year, the business earned $1.19 earnings per share. W.P. Carey’s quarterly revenue was up 3.0% on a year-over-year basis. On average, equities research analysts forecast that W.P. Carey Inc. will post $2.68 earnings per share for the current fiscal year.

Several research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of W.P. Carey from a “buy” rating to a “hold” rating in a research note on Wednesday, August 17th. BMO Capital Markets reissued a “buy” rating and issued a $81.00 target price on shares of W.P. Carey in a research note on Friday, September 23rd. Finally, Wells Fargo & Co. reissued a “hold” rating on shares of W.P. Carey in a research note on Sunday, September 25th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $71.63.

In other W.P. Carey news, Director Mary M. Vandeweghe purchased 940 shares of the stock in a transaction dated Monday, November 7th. The shares were bought at an average cost of $58.67 per share, with a total value of $55,149.80. Following the completion of the acquisition, the director now owns 7,484 shares of the company’s stock, valued at $439,086.28. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark A. Alexander purchased 4,000 shares of the stock in a transaction dated Thursday, November 17th. The shares were acquired at an average cost of $57.73 per share, for a total transaction of $230,920.00. Following the completion of the acquisition, the director now directly owns 4,000 shares of the company’s stock, valued at approximately $230,920. The disclosure for this purchase can be found here. 1.68% of the stock is owned by company insiders.

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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