Engineers Gate Manager LP Has $6.07 Million Holdings in W.P. Carey Inc. $WPC

Engineers Gate Manager LP lifted its position in shares of W.P. Carey Inc. (NYSE:WPC) by 1,724.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 84,861 shares of the real estate investment trust’s stock after purchasing an additional 80,210 shares during the period. Engineers Gate Manager LP’s holdings in W.P. Carey were worth $6,068,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in WPC. Invesco Ltd. grew its holdings in shares of W.P. Carey by 1.6% during the 2nd quarter. Invesco Ltd. now owns 753,196 shares of the real estate investment trust’s stock worth $46,984,000 after purchasing an additional 11,635 shares in the last quarter. Cary Street Partners Financial LLC acquired a new stake in shares of W.P. Carey during the 2nd quarter worth approximately $115,000. Bank of Nova Scotia boosted its holdings in shares of W.P. Carey by 7.3% in the 2nd quarter. Bank of Nova Scotia now owns 8,164 shares of the real estate investment trust’s stock valued at $509,000 after purchasing an additional 555 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in shares of W.P. Carey in the 2nd quarter valued at $3,494,000. Finally, Sei Investments Co. raised its holdings in shares of W.P. Carey by 73.0% during the 2nd quarter. Sei Investments Co. now owns 96,983 shares of the real estate investment trust’s stock worth $6,050,000 after buying an additional 40,908 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Royal Bank Of Canada upped their price objective on W.P. Carey from $73.00 to $77.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 30th. Evercore set a $77.00 price target on shares of W.P. Carey in a report on Thursday, July 30th. Wells Fargo & Company upped their price objective on shares of W.P. Carey from $77.00 to $80.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Scotiabank increased their price objective on shares of W.P. Carey from $76.00 to $77.00 and gave the company a “sector perform” rating in a research note on Thursday, August 13th. Finally, UBS Group restated a “neutral” rating on shares of W.P. Carey in a research report on Wednesday, July 29th. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $79.38.

W.P. Carey Trading Down 0.6%

NYSE WPC opened at $69.13 on Friday. The firm has a market capitalization of $15.75 billion, a PE ratio of 23.59, a price-to-earnings-growth ratio of 3.47 and a beta of 0.75. The business’s 50-day moving average price is $72.07 and its two-hundred day moving average price is $72.37. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 1.01. W.P. Carey Inc. has a 12 month low of $63.08 and a 12 month high of $77.22.

About W.P. Carey

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.