Public Employees Retirement System of Ohio grew its stake in WP Carey Inc (NYSE:WPC) by 0.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,040 shares of the real estate investment trust’s stock after buying an additional 273 shares during the period. Public Employees Retirement System of Ohio’s holdings in WP Carey were worth $5,374,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of WPC. Point72 Asset Management L.P. lifted its position in WP Carey by 1,403.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 19,543 shares of the real estate investment trust’s stock worth $1,749,000 after buying an additional 18,243 shares during the last quarter. WealthPLAN Partners LLC raised its stake in shares of WP Carey by 19.4% during the third quarter. WealthPLAN Partners LLC now owns 99,692 shares of the real estate investment trust’s stock worth $8,450,000 after acquiring an additional 16,166 shares in the last quarter. Sunbelt Securities Inc. bought a new stake in shares of WP Carey in the 3rd quarter worth approximately $713,000. California State Teachers Retirement System lifted its holdings in shares of WP Carey by 0.4% in the 3rd quarter. California State Teachers Retirement System now owns 300,494 shares of the real estate investment trust’s stock worth $26,894,000 after acquiring an additional 1,278 shares during the last quarter. Finally, Pictet Asset Management Ltd. boosted its stake in shares of WP Carey by 9.6% in the 3rd quarter. Pictet Asset Management Ltd. now owns 95,584 shares of the real estate investment trust’s stock valued at $8,555,000 after purchasing an additional 8,400 shares in the last quarter. 57.82% of the stock is currently owned by hedge funds and other institutional investors.
Shares of WP Carey stock opened at $80.89 on Wednesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.67 and a quick ratio of 0.67. WP Carey Inc has a one year low of $63.76 and a one year high of $93.62. The business’s 50 day simple moving average is $87.44 and its two-hundred day simple moving average is $86.52. The stock has a market capitalization of $14.37 billion, a P/E ratio of 15.01, a price-to-earnings-growth ratio of 6.59 and a beta of 0.39.
A number of equities analysts recently commented on the stock. Evercore ISI upgraded shares of WP Carey from an “underperform” rating to an “in-line” rating and set a $88.00 target price on the stock in a research report on Monday, November 11th. BMO Capital Markets initiated coverage on shares of WP Carey in a research report on Friday, October 25th. They set an “outperform” rating for the company. Finally, Zacks Investment Research raised WP Carey from a “sell” rating to a “hold” rating in a research note on Thursday, November 28th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. WP Carey currently has a consensus rating of “Hold” and an average target price of $79.75.
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.
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