Squarepoint Ops LLC Buys Shares of 45,110 W.P. Carey Inc. $WPC

Key Points

• Squarepoint Ops LLC purchased 45,110 shares of W.P. Carey in the second quarter, valued at approximately $3.2 million. Institutional investors collectively own 73.73% of the REIT.
• Analyst sentiment is broadly positive: W.P. Carey has a consensus “Moderate Buy” rating and an average price target of $79.38, with several firms recently upgrading the stock.
• W.P. Carey shares opened at $69.13, below their 50-day and 200-day moving averages of $72.07 and $72.37, respectively. The stock’s 52-week range is $63.08 to $77.22.

Squarepoint Ops LLC purchased a new stake in W.P. Carey Inc. (NYSE:WPC - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 45,110 shares of the real estate investment trust's stock, valued at approximately $3,225,000.

Other hedge funds have also recently modified their holdings of the company. Jacobi Capital Management LLC raised its stake in W.P. Carey by 2.5% in the fourth quarter. Jacobi Capital Management LLC now owns 5,886 shares of the real estate investment trust's stock worth $379,000 after buying an additional 145 shares in the last quarter. Kestra Private Wealth Services LLC increased its holdings in shares of W.P. Carey by 0.7% in the 1st quarter. Kestra Private Wealth Services LLC now owns 21,474 shares of the real estate investment trust's stock valued at $1,459,000 after acquiring an additional 146 shares during the period. Gen Wealth Partners Inc raised its position in shares of W.P. Carey by 2.0% in the 4th quarter. Gen Wealth Partners Inc now owns 7,572 shares of the real estate investment trust's stock worth $487,000 after acquiring an additional 146 shares in the last quarter. Concurrent Investment Advisors LLC raised its position in shares of W.P. Carey by 1.1% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 13,818 shares of the real estate investment trust's stock worth $988,000 after acquiring an additional 148 shares in the last quarter. Finally, Vanderbilt University raised its position in shares of W.P. Carey by 1.1% in the 1st quarter. Vanderbilt University now owns 14,968 shares of the real estate investment trust's stock worth $1,017,000 after acquiring an additional 162 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company's stock.

Wall Street Analysts Forecast Growth

WPC has been the topic of a number of recent research reports. BNP Paribas Exane raised W.P. Carey from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $73.00 to $88.00 in a research report on Wednesday, July 29th. Wolfe Research upgraded shares of W.P. Carey from a "peer perform" rating to an "outperform" rating and set a $85.00 price target on the stock in a report on Monday, June 8th. BMO Capital Markets cut their price objective on shares of W.P. Carey from $86.00 to $84.00 and set an "outperform" rating on the stock in a research report on Thursday, June 18th. Barclays upgraded shares of W.P. Carey from an "underweight" rating to an "equal weight" rating and set a $80.00 price objective for the company in a research note on Friday, September 4th. Finally, Weiss Ratings raised shares of W.P. Carey from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, August 24th. Seven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, W.P. Carey presently has a consensus rating of "Moderate Buy" and a consensus price target of $79.38.

W.P. Carey Stock Up 0.0%

W.P. Carey stock opened at $69.13 on Monday. The business's 50-day simple moving average is $72.07 and its two-hundred day simple moving average is $72.37. The company has a market cap of $15.75 billion, a PE ratio of 23.59, a PEG ratio of 3.44 and a beta of 0.75. W.P. Carey Inc. has a fifty-two week low of $63.08 and a fifty-two week high of $77.22. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.22 and a current ratio of 0.22.

W.P. Carey Company Profile

W.P. Carey Inc NYSE: WPC is a diversified real estate investment trust that owns and manages a portfolio of commercial properties leased to companies under long-term, primarily net lease agreements. Under these arrangements, tenants generally assume responsibility for property taxes, insurance and maintenance, allowing W.P. Carey to generate contractual rental income.

The company invests in and provides sale-leaseback and build-to-suit financing solutions for businesses. Its portfolio has historically included industrial and warehouse facilities, retail properties, office buildings, self-storage facilities and other commercial real estate.

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