Sequoia Financial Advisors LLC Decreases Stock Holdings in W.P. Carey Inc. $WPC

Sequoia Financial Advisors LLC reduced its position in shares of W.P. Carey Inc. (NYSE:WPC) by 9.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 139,129 shares of the real estate investment trust’s stock after selling 14,331 shares during the period. Sequoia Financial Advisors LLC owned 0.06% of W.P. Carey worth $9,948,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Invesco Ltd. grew its position in shares of W.P. Carey by 1.6% in the 2nd quarter. Invesco Ltd. now owns 753,196 shares of the real estate investment trust’s stock worth $46,984,000 after buying an additional 11,635 shares during the last quarter. Cary Street Partners Financial LLC purchased a new position in shares of W.P. Carey during the second quarter valued at approximately $115,000. Bank of Nova Scotia raised its holdings in shares of W.P. Carey by 7.3% during the second quarter. Bank of Nova Scotia now owns 8,164 shares of the real estate investment trust’s stock valued at $509,000 after acquiring an additional 555 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in shares of W.P. Carey during the second quarter valued at approximately $3,494,000. Finally, Sei Investments Co. lifted its stake in W.P. Carey by 73.0% in the second quarter. Sei Investments Co. now owns 96,983 shares of the real estate investment trust’s stock worth $6,050,000 after acquiring an additional 40,908 shares during the period. 73.73% of the stock is owned by institutional investors.

W.P. Carey Stock Down 0.5%

Shares of NYSE:WPC opened at $69.60 on Friday. The stock has a market capitalization of $15.86 billion, a price-to-earnings ratio of 23.75, a PEG ratio of 3.49 and a beta of 0.75. The stock has a fifty day simple moving average of $72.11 and a two-hundred day simple moving average of $72.40. W.P. Carey Inc. has a 12-month low of $63.08 and a 12-month high of $77.22. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 1.01.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. BNP Paribas Exane upgraded shares of W.P. Carey from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $73.00 to $88.00 in a report on Wednesday, July 29th. Bank of America raised shares of W.P. Carey from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $73.00 to $83.00 in a research report on Tuesday, June 16th. Wells Fargo & Company boosted their price target on shares of W.P. Carey from $77.00 to $80.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Weiss Ratings raised shares of W.P. Carey from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, August 24th. Finally, UBS Group reaffirmed 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 assigned a Hold rating to the stock. According to data from MarketBeat.com, the company 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.