Is it smart to be bullish on W.P. Carey Inc. REIT (NYSE:WPC)?
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Furthermore, let’s study the recent info surrounding W.P. Carey Inc. REIT (NYSE:WPC).
How are hedge funds trading W.P. Carey Inc. REIT (NYSE:WPC)?
At Q2’s end, a total of 10 of the hedge funds we track were bullish in this stock, a change of -9% from the previous quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists an “upper tier” of notable hedge fund managers who were boosting their stakes significantly.
When using filings from the hedgies we track, John Paulson’s Paulson & Co had the biggest position in W.P. Carey Inc. REIT (NYSE:WPC), worth close to $101.6 million, accounting for 0.7% of its total 13F portfolio. Sitting at the No. 2 spot is Markel Gayner Asset Management, managed by Tom Gayner, which held a $63.1 million position; the fund has 2.3% of its 13F portfolio invested in the stock. Other peers with similar optimism include Jim Simons’s Renaissance Technologies, D. E. Shaw’s D E Shaw and Matthew Hulsizer’s PEAK6 Capital Management.
Judging by the fact that W.P. Carey Inc. REIT (NYSE:WPC) has witnessed declining interest from the entirety of the hedge funds we track, we can see that there exists a select few money managers that decided to sell off their full holdings at the end of the second quarter. At the top of the heap, Eric Edidin and Josh Lobel’s Archer Capital Management dumped the largest position of the “upper crust” of funds we monitor, totaling about $29.4 million in stock. Chuck Royce’s fund, Royce & Associates, also sold off its stock, about $19 million worth. These moves are important to note, as total hedge fund interest fell by 1 funds at the end of the second quarter.
What have insiders been doing with W.P. Carey Inc. REIT (NYSE:WPC)?
Bullish insider trading is at its handiest when the company we’re looking at has experienced transactions within the past half-year. Over the last 180-day time period, W.P. Carey Inc. REIT (NYSE:WPC) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).
We’ll also take a look at the relationship between both of these indicators in other stocks similar to W.P. Carey Inc. REIT (NYSE:WPC). These stocks are MFA Financial, Inc. (NYSE:MFA), Retail Properties of America Inc (NYSE:RPAI), Douglas Emmett, Inc. (NYSE:DEI), Starwood Property Trust, Inc. (NYSE:STWD), and National Retail Properties, Inc. (NYSE:NNN). All of these stocks are in the reit – diversified industry and their market caps match WPC’s market cap.