Institute for Wealth Management LLC. lowered its position in shares of WP Carey Inc (NYSE:WPC) by 38.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,306 shares of the real estate investment trust’s stock after selling 2,083 shares during the quarter. Institute for Wealth Management LLC.’s holdings in WP Carey were worth $268,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WPC. Centaurus Financial Inc. boosted its holdings in shares of WP Carey by 65.4% in the first quarter. Centaurus Financial Inc. now owns 2,051 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 811 shares during the period. Manchester Financial Inc. acquired a new position in shares of WP Carey in the second quarter valued at approximately $32,000. Mcmillion Capital Management Inc. acquired a new position in shares of WP Carey in the second quarter valued at approximately $53,000. Meridian Wealth Management LLC acquired a new position in shares of WP Carey in the second quarter valued at approximately $57,000. Finally, Baystate Wealth Management LLC boosted its holdings in shares of WP Carey by 22.5% in the first quarter. Baystate Wealth Management LLC now owns 785 shares of the real estate investment trust’s stock valued at $61,000 after buying an additional 144 shares during the period. Hedge funds and other institutional investors own 54.87% of the company’s stock.

Several research analysts have recently weighed in on WPC shares. ValuEngine cut shares of WP Carey from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Citigroup upgraded shares of WP Carey from a “sell” rating to a “neutral” rating and upped their price target for the company from $59.00 to $81.00 in a report on Friday, June 7th. Mitsubishi UFJ Financial Group reduced their target price on shares of WP Carey to $77.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. Finally, Zacks Investment Research upgraded shares of WP Carey from a “sell” rating to a “hold” rating in a report on Friday, August 16th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $76.50.

WPC traded up $0.14 during trading hours on Wednesday, hitting $88.50. 3,190 shares of the company’s stock were exchanged, compared to its average volume of 739,642. WP Carey Inc has a 1-year low of $62.12 and a 1-year high of $89.20. The stock’s 50-day moving average is $85.28 and its two-hundred day moving average is $80.49. The stock has a market cap of $15.14 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 6.66 and a beta of 0.48. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.87.

WP Carey (NYSE:WPC) last announced its earnings results on Friday, August 2nd. The real estate investment trust reported $0.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by ($0.85). WP Carey had a return on equity of 6.72% and a net margin of 38.36%. The business had revenue of $305.21 million for the quarter, compared to analyst estimates of $303.23 million. During the same quarter in the previous year, the company posted $0.60 EPS. On average, equities research analysts anticipate that WP Carey Inc will post 4.91 EPS for the current year.

WP Carey Company 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.

See Also: Understanding the different types of bonds

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.