Wells Fargo & Company MN lessened its stake in shares of WP Carey Inc (NYSE:WPC) by 30.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 526,228 shares of the real estate investment trust’s stock after selling 231,260 shares during the quarter. Wells Fargo & Company MN’s holdings in WP Carey were worth $41,220,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Pictet Asset Management Ltd. increased its stake in shares of WP Carey by 40.1% during the 1st quarter. Pictet Asset Management Ltd. now owns 107,184 shares of the real estate investment trust’s stock worth $8,396,000 after purchasing an additional 30,700 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of WP Carey by 4.4% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 184,368 shares of the real estate investment trust’s stock worth $14,442,000 after purchasing an additional 7,718 shares during the last quarter. Bremer Bank National Association purchased a new stake in shares of WP Carey during the 1st quarter worth approximately $161,000. Advisor Group Inc. increased its stake in shares of WP Carey by 3.1% during the 1st quarter. Advisor Group Inc. now owns 72,877 shares of the real estate investment trust’s stock worth $5,714,000 after purchasing an additional 2,220 shares during the last quarter. Finally, BlackRock Inc. increased its stake in shares of WP Carey by 4.6% during the 1st quarter. BlackRock Inc. now owns 13,349,952 shares of the real estate investment trust’s stock worth $1,045,703,000 after purchasing an additional 592,140 shares during the last quarter. Institutional investors own 54.02% of the company’s stock.

NYSE:WPC traded up $0.32 during trading hours on Wednesday, hitting $85.21. The stock had a trading volume of 10,269 shares, compared to its average volume of 899,574. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.43 and a quick ratio of 0.43. WP Carey Inc has a one year low of $62.12 and a one year high of $85.68. The company has a market cap of $14.45 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 4.31 and a beta of 0.51.

WP Carey (NYSE:WPC) last announced its quarterly earnings results on Friday, May 3rd. The real estate investment trust reported $1.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.01. WP Carey had a net margin of 44.84% and a return on equity of 8.12%. The firm had revenue of $298.30 million during the quarter, compared to the consensus estimate of $304.42 million. During the same period last year, the firm earned $0.72 EPS. The business’s quarterly revenue was up 47.8% compared to the same quarter last year. Equities research analysts expect that WP Carey Inc will post 4.93 EPS for the current fiscal year.

Several research analysts recently commented on WPC shares. Zacks Investment Research raised shares of WP Carey from a “sell” rating to a “hold” rating in a report on Friday, May 24th. Mitsubishi UFJ Financial Group started coverage on shares of WP Carey in a report on Tuesday, March 26th. They issued a “neutral” rating and a $78.00 price objective for the company. Citigroup raised shares of WP Carey from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $59.00 to $81.00 in a report on Friday, June 7th. Finally, Capital One Financial reaffirmed an “equal weight” rating on shares of WP Carey in a report on Tuesday, March 5th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. WP Carey presently has a consensus rating of “Hold” and a consensus target price of $73.54.

TRADEMARK VIOLATION WARNING: This story was originally published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this story on another domain, it was illegally stolen and republished in violation of US and international copyright and trademark legislation. The original version of this story can be read at https://www.thecerbatgem.com/2019/06/12/wp-carey-inc-nysewpc-shares-sold-by-wells-fargo-company-mn.html.

WP Carey Profile

W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $17 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,163 net lease properties covering approximately 131 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.

Featured Story: Exchange-Traded Funds (ETFs)

Want to see what other hedge funds are holding WPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WP Carey Inc (NYSE:WPC).

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

Receive News & Ratings for WP Carey Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WP Carey and related companies with MarketBeat.com's FREE daily email newsletter.