W. P. Carey Inc. (NYSE:WPC) Shares Acquired by McGlone Suttner Wealth Management Inc.

McGlone Suttner Wealth Management Inc. lifted its position in W. P. Carey Inc. (NYSE:WPC) by 8.9% in the 4th quarter, HoldingsChannel reports. The firm owned 8,965 shares of the real estate investment trust’s stock after purchasing an additional 736 shares during the quarter. McGlone Suttner Wealth Management Inc.’s holdings in W. P. Carey were worth $581,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of W. P. Carey by 3.9% in the first quarter. Vanguard Group Inc. now owns 27,334,613 shares of the real estate investment trust’s stock worth $2,209,731,000 after purchasing an additional 1,016,340 shares during the last quarter. BlackRock Inc. raised its stake in shares of W. P. Carey by 1.6% in the second quarter. BlackRock Inc. now owns 15,618,194 shares of the real estate investment trust’s stock worth $1,055,165,000 after purchasing an additional 244,527 shares during the last quarter. State Street Corp raised its stake in shares of W. P. Carey by 2.1% in the first quarter. State Street Corp now owns 10,228,412 shares of the real estate investment trust’s stock worth $802,831,000 after purchasing an additional 208,561 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of W. P. Carey by 46.1% in the first quarter. JPMorgan Chase & Co. now owns 6,558,610 shares of the real estate investment trust’s stock worth $507,966,000 after purchasing an additional 2,068,458 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC raised its stake in shares of W. P. Carey by 104,493.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,615,688 shares of the real estate investment trust’s stock worth $360,716,000 after purchasing an additional 4,611,275 shares during the last quarter. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Scotiabank reduced their price target on W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating for the company in a research report on Monday, March 4th. Barclays started coverage on W. P. Carey in a research report on Wednesday. They set an “equal weight” rating and a $40.00 price target for the company. StockNews.com started coverage on W. P. Carey in a research report on Thursday, January 4th. They issued a “hold” rating for the company. Royal Bank of Canada cut their price objective on W. P. Carey from $68.00 to $65.00 and set an “outperform” rating for the company in a research report on Monday, February 12th. Finally, Raymond James cut W. P. Carey from an “outperform” rating to a “market perform” rating in a research report on Monday, February 12th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, W. P. Carey currently has a consensus rating of “Hold” and a consensus target price of $63.36.

W. P. Carey Price Performance

Shares of NYSE:WPC traded up $0.47 during trading on Thursday, reaching $56.44. The stock had a trading volume of 1,227,789 shares, compared to its average volume of 1,457,506. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.62 and a current ratio of 0.62. The business has a fifty day moving average price of $58.32 and a 200-day moving average price of $59.15. The stock has a market cap of $12.34 billion, a PE ratio of 17.10, a PEG ratio of 0.44 and a beta of 0.86. W. P. Carey Inc. has a 1-year low of $51.36 and a 1-year high of $78.23.

W. P. Carey (NYSE:WPC) last issued its quarterly earnings results on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.14. The firm had revenue of $410.38 million for the quarter, compared to analyst estimates of $413.04 million. W. P. Carey had a return on equity of 7.78% and a net margin of 40.68%. The business’s revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.29 earnings per share. On average, equities analysts forecast that W. P. Carey Inc. will post 4.57 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.865 per share. The ex-dividend date is Wednesday, March 27th. This represents a $3.46 dividend on an annualized basis and a yield of 6.13%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.86. W. P. Carey’s payout ratio is 104.24%.

W. P. Carey Company Profile

W. P. Carey ranks among the largest net lease REITs with a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,424 net lease properties covering approximately 173 million square feet and a portfolio of 89 self-storage operating properties as of December 31, 2023.