W.P. Carey (NYSE:WPC) Receives a Downgrade
In a note revealed to investors on 11 December, Citigroup has decided to downgraded rating on W.P. Carey (NYSE:WPC) shares to a “Sell”. WPC’s prior rating was a “Neutral”.
From a total of 6 analysts covering WP Carey & Co LLC (NYSE:WPC) stock, 3 rate it a ”Buy”, 1 a “Sell”, and 3 a ”Hold”. This means that 43% of the ratings are positive. The highest target price is $75 while the lowest target price is $64. The mean of all analyst targets is $68.5 with a 9.74% above today’s ($58.93) stock price. WP Carey & Co LLC was the topic of 4 analyst reports since August 5, 2015 according to the firm StockzIntelligence Inc. Zacks upgraded shares on August 26 to “Hold” rating.
Approximately 454,303 shares of stock traded hands or 47.15% up from the average. W.P. Carey Inc. REIT (NYSE:WPC) has declined 6.71% since May 8, 2015 and is downtrending. It has underperformed by 3.69% the S&P500.
The overall sentiment of institutions has decreased to 0.98 in Q2 2015. Its down 0.34, from 1.32 in 2015Q2. The ratio fall, as 38 institutions have sold all the shares of W.P. Carey Inc. REIT that they owned while 92 funds have taken shares off the table. 31 funds have purchased shares for the first time while 96 added to their positions. These institutions now hold 31.44 million shares or 29.88% less than the 44.84 million shares they owned in 2015Q2.
The Fund Gruss & Co Inc currently is holding shares equating to 8.85% of its total portfolio in W.P. Carey Inc. REIT representing a total of 97,377 shares. Another fund,Rock Point Advisors Llc, is holding a total of 153,992 shares equating to 4.88% of their holdings. Additionally, Welch Capital Partners Llc Ny has a 172,033 share stake in W.P. Carey Inc. REIT which represents 3.38% of their total portfolio. The Fund, Berkshire Asset Management Llc Pa, based out of Pennsylvania, has also built up a stake in the stock, which represents a total of 3.2% of their total portfolio. Finally Pring Turner Capital Group Inc, a fund which is based in the state of California reported a total holdings of 34,814 shares.
Insider activity is a very important aspect to track on any stock. Going back to March 6, 2015, shareholders of W.P. Carey Inc. REIT have witnessed 0 insider purchases, and a total of 1 sale equating to a net activity of approximately $31,835 . Coolidge Nathaniel S sold 500 shares worth approximately $31,835. Bond Trevor P bought 2,000 shares worth approximately $131,180.
According to Zacks Investment Research, “W. P. Carey Inc. is a real estate investment trust engaged in providing long-term sale-leaseback and build-to-suit financing for companies. The firm primarily invests in commercial properties that are generally triple-net leased to single corporate tenants including office, warehouse, industrial, logistics, retail, hotel, R&D, and self-storage properties. W. P. Carey Inc., formerly known as W. P. Carey & Co. LLC, is based in New York.” Get a free copy of the Zacks research report on W.P. Carey Inc. REIT (WPC).