Northstar Investment Advisors LLC reduced its position in W.P. Carey Inc. (NYSE:WPC) by 1.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 133,553 shares of the real estate investment trust’s stock after selling 1,957 shares during the quarter. W.P. Carey comprises approximately 1.8% of Northstar Investment Advisors LLC’s portfolio, making the stock its 23rd biggest position. Northstar Investment Advisors LLC owned approximately 0.12% of W.P. Carey worth $9,000,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in shares of W.P. Carey by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 755,971 shares of the real estate investment trust’s stock worth $49,902,000 after purchasing an additional 22,204 shares during the last quarter. Kempen Capital Management N.V. raised its position in W.P. Carey by 33.7% in the second quarter. Kempen Capital Management N.V. now owns 41,668 shares of the real estate investment trust’s stock worth $2,751,000 after acquiring an additional 10,514 shares in the last quarter. Pring Turner Capital Group Inc. raised its position in W.P. Carey by 7.7% in the second quarter. Pring Turner Capital Group Inc. now owns 36,355 shares of the real estate investment trust’s stock worth $2,400,000 after acquiring an additional 2,585 shares in the last quarter. First Trust Advisors LP raised its position in W.P. Carey by 14.7% in the second quarter. First Trust Advisors LP now owns 78,294 shares of the real estate investment trust’s stock worth $5,168,000 after acquiring an additional 10,030 shares in the last quarter. Finally, Honeywell International Inc. raised its position in W.P. Carey by 27.8% in the third quarter. Honeywell International Inc. now owns 14,564 shares of the real estate investment trust’s stock worth $981,000 after acquiring an additional 3,164 shares in the last quarter. 48.34% of the stock is owned by institutional investors and hedge funds.
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WPC has been the subject of several research analyst reports. BidaskClub cut W.P. Carey from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 10th. Ladenburg Thalmann Financial Services reiterated a “hold” rating on shares of W.P. Carey in a research report on Friday, September 1st. ValuEngine upgraded W.P. Carey from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Robert W. Baird initiated coverage on W.P. Carey in a research report on Wednesday, October 18th. They issued an “outperform” rating and a $77.00 price objective for the company. Finally, Zacks Investment Research cut W.P. Carey from a “hold” rating to a “sell” rating in a research report on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $70.00.
W.P. Carey (NYSE:WPC) last posted its quarterly earnings data on Friday, November 3rd. The real estate investment trust reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.21. The business had revenue of $210.00 million for the quarter, compared to analyst estimates of $212.72 million. W.P. Carey had a return on equity of 7.25% and a net margin of 31.28%. The business’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.34 earnings per share. analysts forecast that W.P. Carey Inc. will post 4.49 EPS for the current year.
W.P. Carey Company Profile
W. P. Carey provides long-term, sale-leaseback and build-to-suit transactions for companies worldwide, and manages a global investment portfolio. It has two primary business segments. Under the investment management segment, the Company earns revenue as the advisor to publicly owned, non-actively traded real estate investment trusts (REITs), which are sponsored by the Company under the Corporate Property Associates brand name (the CPA REITs) and invests in similar properties.
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