Kerntke Otto McGlone Wealth Management Group Increases Position in W. P. Carey Inc. (NYSE:WPC)

Kerntke Otto McGlone Wealth Management Group boosted its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 20.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 7,922 shares of the real estate investment trust’s stock after acquiring an additional 1,318 shares during the period. Kerntke Otto McGlone Wealth Management Group’s holdings in W. P. Carey were worth $513,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Royal Fund Management LLC increased its position in shares of W. P. Carey by 8.8% during the fourth quarter. Royal Fund Management LLC now owns 13,085 shares of the real estate investment trust’s stock worth $848,000 after purchasing an additional 1,057 shares in the last quarter. U.S. Capital Wealth Advisors LLC acquired a new stake in W. P. Carey during the 4th quarter worth $218,000. M&T Bank Corp grew its holdings in shares of W. P. Carey by 2.7% during the fourth quarter. M&T Bank Corp now owns 31,191 shares of the real estate investment trust’s stock worth $2,024,000 after buying an additional 825 shares in the last quarter. Amalgamated Bank raised its position in shares of W. P. Carey by 512.4% in the fourth quarter. Amalgamated Bank now owns 124,702 shares of the real estate investment trust’s stock valued at $8,082,000 after buying an additional 104,340 shares during the last quarter. Finally, SRS Capital Advisors Inc. lifted its stake in shares of W. P. Carey by 1.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 16,922 shares of the real estate investment trust’s stock worth $1,097,000 after buying an additional 191 shares in the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WPC. Raymond James lowered shares of W. P. Carey from an “outperform” rating to a “market perform” rating in a research note on Monday, February 12th. Barclays initiated coverage on W. P. Carey in a research note on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 price objective on the stock. Scotiabank cut their target price on W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating for the company in a research note on Monday, March 4th. Royal Bank of Canada reduced their price target on W. P. Carey from $65.00 to $63.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Wells Fargo & Company dropped their price objective on shares of W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating for the company in a report on Tuesday, February 20th. Two equities research 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $63.18.

W. P. Carey Trading Up 1.4 %

Shares of WPC traded up $0.76 during midday trading on Friday, hitting $56.68. 1,392,562 shares of the stock were exchanged, compared to its average volume of 1,164,508. W. P. Carey Inc. has a 52-week low of $51.36 and a 52-week high of $73.60. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.62 and a current ratio of 0.90. The stock has a fifty day simple moving average of $55.87 and a 200 day simple moving average of $58.84. The firm has a market cap of $12.40 billion, a P/E ratio of 21.55, a P/E/G ratio of 0.45 and a beta of 0.86.

W. P. Carey (NYSE:WPC) last released its 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. W. P. Carey had a net margin of 33.65% and a return on equity of 6.41%. The company had revenue of $410.38 million for the quarter, compared to analyst estimates of $413.04 million. During the same period in the prior year, the business earned $1.29 EPS. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. On average, research analysts anticipate that W. P. Carey Inc. will post 4.53 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.865 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This is a boost from W. P. Carey’s previous quarterly dividend of $0.86. This represents a $3.46 dividend on an annualized basis and a yield of 6.10%. W. P. Carey’s dividend payout ratio (DPR) is currently 131.56%.

About W. P. Carey

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.