Short Interest in WP Carey Inc (WPC) Increases By 77.8%
WP Carey Inc (NYSE:WPC) was the recipient of a large increase in short interest in December. As of December 31st, there was short interest totalling 5,389,835 shares, an increase of 77.8% from the December 14th total of 3,030,666 shares. Based on an average daily volume of 2,439,943 shares, the short-interest ratio is currently 2.2 days. Approximately 3.4% of the company’s stock are sold short.
Shares of WPC stock opened at $69.66 on Thursday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.18 and a quick ratio of 0.18. The company has a market cap of $11.00 billion, a price-to-earnings ratio of 13.14 and a beta of 0.54. WP Carey has a 12-month low of $59.23 and a 12-month high of $71.29.
WP Carey (NYSE:WPC) last issued its quarterly earnings data on Friday, November 2nd. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.08. The firm had revenue of $209.40 million during the quarter, compared to the consensus estimate of $215.47 million. WP Carey had a net margin of 39.03% and a return on equity of 8.78%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the business posted $0.74 earnings per share. On average, sell-side analysts anticipate that WP Carey will post 5.24 EPS for the current fiscal year.
WPC has been the subject of several recent analyst reports. ValuEngine downgraded shares of WP Carey from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Zacks Investment Research downgraded shares of WP Carey from a “buy” rating to a “hold” rating in a research report on Thursday, October 25th. Finally, JPMorgan Chase & Co. initiated coverage on shares of WP Carey in a research report on Wednesday, December 19th. They set a “neutral” rating and a $73.00 price objective for the company. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $70.81.
In related news, Director Christopher Niehaus acquired 3,850 shares of the firm’s stock in a transaction dated Tuesday, November 13th. The stock was bought at an average price of $66.08 per share, for a total transaction of $254,408.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jean Hoysradt acquired 2,300 shares of the firm’s stock in a transaction dated Tuesday, November 6th. The stock was bought at an average price of $64.73 per share, with a total value of $148,879.00. Following the acquisition, the director now directly owns 9,255 shares in the company, valued at $599,076.15. The disclosure for this purchase can be found here. 1.56% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of WP Carey by 0.3% in the third quarter. Vanguard Group Inc. now owns 15,410,572 shares of the real estate investment trust’s stock valued at $991,053,000 after buying an additional 44,898 shares in the last quarter. Vanguard Group Inc raised its position in shares of WP Carey by 0.3% in the third quarter. Vanguard Group Inc now owns 15,410,572 shares of the real estate investment trust’s stock valued at $991,053,000 after buying an additional 44,898 shares in the last quarter. BlackRock Inc. raised its position in shares of WP Carey by 1.7% in the third quarter. BlackRock Inc. now owns 7,348,203 shares of the real estate investment trust’s stock valued at $472,564,000 after buying an additional 119,652 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of WP Carey by 0.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,596,483 shares of the real estate investment trust’s stock valued at $102,669,000 after buying an additional 12,442 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of WP Carey by 45.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,512,424 shares of the real estate investment trust’s stock valued at $97,263,000 after buying an additional 474,831 shares in the last quarter. Hedge funds and other institutional investors own 32.36% of the company’s stock.
About WP Carey
Celebrating its 45th anniversary, W. P. Carey ranks among the largest diversified net lease REITs with an enterprise value of approximately $17 billion and a portfolio of operationally-critical commercial real estate that includes 1,186 net lease properties covering approximately 133 million square feet.
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