Creative Planning increased its position in W.P. Carey Inc. (NYSE:WPC) by 49.1% during the third quarter, Holdings Channel reports. The firm owned 24,197 shares of the company’s stock after buying an additional 7,965 shares during the period. Creative Planning’s holdings in W.P. Carey were worth $1,561,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in W.P. Carey by 6.0% in the second quarter. Vanguard Group Inc. now owns 15,057,575 shares of the company’s stock worth $1,045,297,000 after buying an additional 855,152 shares in the last quarter. American Century Companies Inc. increased its stake in W.P. Carey by 430.0% in the second quarter. American Century Companies Inc. now owns 425,470 shares of the company’s stock worth $29,536,000 after buying an additional 345,189 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in W.P. Carey during the first quarter worth approximately $16,151,000. Virginia Retirement Systems ET AL acquired a new stake in W.P. Carey during the second quarter worth approximately $7,928,000. Finally, Royal Bank of Canada increased its stake in W.P. Carey by 18.1% in the second quarter. Royal Bank of Canada now owns 681,804 shares of the company’s stock worth $47,330,000 after buying an additional 104,672 shares in the last quarter. 48.18% of the stock is currently owned by institutional investors.
W.P. Carey Inc. (NYSE:WPC) traded up 0.51% during midday trading on Friday, hitting $58.99. The company had a trading volume of 127,637 shares. The firm has a market cap of $6.27 billion, a price-to-earnings ratio of 23.32 and a beta of 0.90. The stock has a 50 day moving average of $59.90 and a 200 day moving average of $65.31. W.P. Carey Inc. has a 52-week low of $51.12 and a 52-week high of $72.89.
W.P. Carey (NYSE:WPC) last announced its earnings results on Thursday, November 3rd. The company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by $0.17. The company had revenue of $204.20 million for the quarter, compared to analyst estimates of $176.33 million. W.P. Carey had a net margin of 30.17% and a return on equity of 7.71%. W.P. Carey’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.19 EPS. On average, analysts anticipate that W.P. Carey Inc. will post $2.68 EPS for the current year.
A number of equities research analysts have commented on WPC shares. Zacks Investment Research downgraded W.P. Carey from a “buy” rating to a “hold” rating in a research report on Wednesday, August 17th. BMO Capital Markets restated a “buy” rating and issued a $81.00 target price on shares of W.P. Carey in a research report on Friday, September 23rd. Finally, Wells Fargo & Co. restated a “hold” rating on shares of W.P. Carey in a research report on Sunday, September 25th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. W.P. Carey has a consensus rating of “Hold” and a consensus price target of $71.63.
In related news, Director Mark A. Alexander bought 4,000 shares of the stock in a transaction on Thursday, November 17th. The shares were purchased at an average price of $57.73 per share, for a total transaction of $230,920.00. Following the acquisition, the director now owns 4,000 shares in the company, valued at $230,920. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mary M. Vandeweghe bought 940 shares of the stock in a transaction on Monday, November 7th. The shares were bought at an average price of $58.67 per share, for a total transaction of $55,149.80. Following the acquisition, the director now owns 7,484 shares in the company, valued at approximately $439,086.28. The disclosure for this purchase can be found here. Company insiders own 1.68% of the company’s stock.
W.P. Carey Company Profile
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.