Real Estate Management Services buys $24,005,700 stake in WCI Communities Inc (WCIC)

WCI Communities Inc (WCIC) : Real Estate Management Services scooped up 246,530 additional shares in WCI Communities Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 13, 2016. The investment management firm now holds a total of 1,307,500 shares of WCI Communities Inc which is valued at $24,005,700.WCI Communities Inc makes up approximately 3.82% of Real Estate Management Services’s portfolio.

WCI Communities Inc opened for trading at $18.36 and hit $18.58 on the upside on Monday, eventually ending the session at $18.44, with a gain of 0.44% or 0.08 points. The heightened volatility saw the trading volume jump to 88,738 shares. Company has a market cap of $486 M.

Other Hedge Funds, Including , Creative Planning reduced its stake in WCIC by selling 192 shares or 33.86% in the most recent quarter. The Hedge Fund company now holds 375 shares of WCIC which is valued at $6,619.Foundry Partners boosted its stake in WCIC in the latest quarter, The investment management firm added 25,966 additional shares and now holds a total of 204,155 shares of WCI Communities Inc which is valued at $3,603,336. WCI Communities Inc makes up approx 0.36% of Foundry Partners’s portfolio.

On the company’s financial health, WCI Communities Inc reported $0.37 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Feb 17, 2016. Analyst had a consensus of $0.36. The company had revenue of $165.00 million for the quarter, compared to analysts expectations of $162.73 million. The company’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS.

Many Wall Street Analysts have commented on WCI Communities Inc. Shares were Reiterated by FBR Capital on Feb 18, 2016 to “Outperform” and Lowered the Price Target to $ 23 from a previous price target of $28 .

WCI Communities Inc. is a lifestyle community developer and luxury homebuilder of single- and multi-family homes. The Company’s business is organized into three operating segments: Homebuilding which designs sells and builds homes across a range of price points and sizes; Real Estate Services which operates a real estate brokerage business under the Berkshire Hathaway HomeServices brand and title services and Amenities which includes the construction ownership and management of recreational amenities in residential communities that it develops. Amenities consist of golf courses and country clubs marinas and resort-style facilities.

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