Engineers Gate Manager LP Buys 80,210 Shares of W.P. Carey Inc. $WPC

Engineers Gate Manager LP boosted its position in shares of W.P. Carey Inc. (NYSE:WPC) by 1,724.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 84,861 shares of the real estate investment trust’s stock after acquiring an additional 80,210 shares during the period. Engineers Gate Manager LP’s holdings in W.P. Carey were worth $6,068,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of W.P. Carey in the 2nd quarter worth about $2,371,801,000. California State Teachers Retirement System grew its position in W.P. Carey by 6,982.6% during the 2nd quarter. California State Teachers Retirement System now owns 27,759,661 shares of the real estate investment trust’s stock worth $1,984,816,000 after acquiring an additional 27,367,721 shares during the last quarter. State Street Corp grew its position in W.P. Carey by 1.0% during the 3rd quarter. State Street Corp now owns 12,329,159 shares of the real estate investment trust’s stock worth $844,065,000 after acquiring an additional 119,817 shares during the last quarter. Geode Capital Management LLC increased its holdings in W.P. Carey by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 4,795,604 shares of the real estate investment trust’s stock valued at $307,913,000 after purchasing an additional 110,306 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in W.P. Carey by 0.3% during the 4th quarter. Invesco Ltd. now owns 3,904,767 shares of the real estate investment trust’s stock valued at $251,311,000 after purchasing an additional 12,305 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

W.P. Carey Trading Down 0.6%

NYSE:WPC opened at $69.13 on Friday. The company has a market cap of $15.75 billion, a P/E ratio of 23.59, a price-to-earnings-growth ratio of 3.47 and a beta of 0.75. W.P. Carey Inc. has a twelve month low of $63.08 and a twelve month high of $77.22. The business has a 50 day moving average price of $72.07 and a two-hundred day moving average price of $72.37. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 1.01.

Analyst Ratings Changes

A number of equities analysts have commented on WPC shares. Wells Fargo & Company boosted their price objective on W.P. Carey from $77.00 to $80.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Weiss Ratings upgraded W.P. Carey from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, August 24th. Wolfe Research upgraded W.P. Carey from a “peer perform” rating to an “outperform” rating and set a $85.00 price objective on the stock in a research report on Monday, June 8th. BNP Paribas Exane upgraded shares of W.P. Carey from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $73.00 to $88.00 in a report on Wednesday, July 29th. Finally, Scotiabank increased their target price on W.P. Carey from $76.00 to $77.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 13th. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, W.P. Carey presently has an average rating of “Moderate Buy” and an average price target of $79.38.

W.P. Carey Profile

W.P. Carey Inc (NYSE: WPC) is a diversified real estate investment trust that owns and manages a portfolio of commercial properties leased to companies under long-term, primarily net lease agreements. Under these arrangements, tenants generally assume responsibility for property taxes, insurance and maintenance, allowing W.P. Carey to generate contractual rental income.

The company invests in and provides sale-leaseback and build-to-suit financing solutions for businesses. Its portfolio has historically included industrial and warehouse facilities, retail properties, office buildings, self-storage facilities and other commercial real estate.