Los Angeles Capital Management & Equity Research Inc. reduced its position in WP Carey Inc (NYSE:WPC) by 18.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 79,403 shares of the real estate investment trust’s stock after selling 18,200 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in WP Carey were worth $5,106,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of WPC. Assetmark Inc. bought a new stake in shares of WP Carey during the 2nd quarter worth about $117,000. First Hawaiian Bank bought a new stake in shares of WP Carey during the 3rd quarter worth about $123,000. Chicago Capital LLC bought a new stake in shares of WP Carey during the 2nd quarter worth about $207,000. Kovack Advisors Inc. bought a new stake in shares of WP Carey during the 3rd quarter worth about $209,000. Finally, Gradient Capital Advisors LLC bought a new stake in shares of WP Carey during the 2nd quarter worth about $213,000. 48.54% of the stock is currently owned by institutional investors.

In other WP Carey news, Director Christopher Niehaus bought 3,850 shares of the firm’s stock in a transaction that occurred on Tuesday, November 13th. The stock was purchased at an average price of $66.08 per share, for a total transaction of $254,408.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jean Hoysradt bought 2,300 shares of the firm’s stock in a transaction that occurred on Tuesday, November 6th. The shares were acquired at an average price of $64.73 per share, with a total value of $148,879.00. Following the purchase, the director now owns 9,255 shares in the company, valued at $599,076.15. The disclosure for this purchase can be found here. 1.56% of the stock is owned by corporate insiders.

WPC has been the subject of several recent analyst reports. Zacks Investment Research upgraded WP Carey from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Friday, August 31st. ValuEngine upgraded WP Carey from a “sell” rating to a “hold” rating in a research note on Thursday, October 11th. Finally, Bank of America upped their price target on WP Carey from $59.00 to $66.25 and gave the stock an “underperform” rating in a research note on Monday, August 13th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $70.08.

Shares of NYSE:WPC opened at $66.66 on Friday. WP Carey Inc has a twelve month low of $59.23 and a twelve month high of $72.41. The company has a market cap of $10.67 billion, a P/E ratio of 12.58 and a beta of 0.55. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.21.

WP Carey (NYSE:WPC) last announced its earnings results on Friday, November 2nd. The real estate investment trust reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.08. WP Carey had a return on equity of 8.78% and a net margin of 39.03%. The firm had revenue of $209.40 million during the quarter, compared to the consensus estimate of $215.47 million. During the same quarter in the prior year, the company earned $0.74 EPS. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. On average, equities research analysts forecast that WP Carey Inc will post 5.26 earnings per share for the current fiscal year.

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About WP Carey

Celebrating its 45th anniversary, W. P. Carey ranks among the largest diversified net lease REITs with an enterprise value of over $11 billion and a portfolio of operationally-critical commercial real estate totaling 878 properties covering approximately 87 million square feet. For over four decades the Company has invested in high-quality single-tenant industrial, warehouse, office and retail properties subject to long-term leases with built-in rent escalators.

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Institutional Ownership by Quarter for WP Carey (NYSE:WPC)

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