California State Teachers Retirement System lowered its stake in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 0.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 388,247 shares of the real estate investment trust's stock after selling 3,693 shares during the quarter. California State Teachers Retirement System owned approximately 0.17% of W.P. Carey worth $27,759,661 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in W.P. Carey during the second quarter valued at approximately $2,371,801,000. Geode Capital Management LLC increased its stake in W.P. Carey by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 4,795,604 shares of the real estate investment trust's stock worth $307,913,000 after buying an additional 110,306 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of W.P. Carey by 4.9% during the first quarter. Dimensional Fund Advisors LP now owns 3,348,132 shares of the real estate investment trust's stock valued at $227,539,000 after acquiring an additional 155,857 shares during the last quarter. Norges Bank acquired a new stake in W.P. Carey in the fourth quarter valued at $184,035,000. Finally, Legal & General Group Plc raised its position in W.P. Carey by 5.0% during the 4th quarter. Legal & General Group Plc now owns 2,699,056 shares of the real estate investment trust's stock worth $173,711,000 after buying an additional 128,761 shares during the last quarter. Institutional investors own 73.73% of the company's stock.
W.P. Carey Trading Down 1.0%
W.P. Carey stock traded down $0.67 during trading on Tuesday, hitting $68.52. The company had a trading volume of 686,034 shares, compared to its average volume of 1,363,825. W.P. Carey Inc. has a 1-year low of $63.08 and a 1-year high of $77.22. The stock has a market cap of $15.61 billion, a price-to-earnings ratio of 23.37, a price-to-earnings-growth ratio of 3.44 and a beta of 0.75. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 1.01. The company's 50 day simple moving average is $72.04 and its 200-day simple moving average is $72.34.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on WPC. BNP Paribas Exane upgraded W.P. Carey from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $73.00 to $88.00 in a research note on Wednesday, July 29th. Citigroup restated a "market perform" rating on shares of W.P. Carey in a report on Thursday, June 18th. Scotiabank raised their target price on shares of W.P. Carey from $76.00 to $77.00 and gave the stock a "sector perform" rating in a report on Thursday, August 13th. Wolfe Research upgraded shares of W.P. Carey from a "peer perform" rating to an "outperform" rating and set a $85.00 price objective on the stock in a report on Monday, June 8th. Finally, BMO Capital Markets lowered their price target on shares of W.P. Carey from $86.00 to $84.00 and set an "outperform" rating on the stock in a report on Thursday, June 18th. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, W.P. Carey has a consensus rating of "Moderate Buy" and an average target price of $79.38.
Read Our Latest Stock Report on W.P. Carey
W.P. Carey Company Profile
(
Free Report)
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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