McGlone Suttner Wealth Management Inc. Has $581,000 Position in W. P. Carey Inc. (NYSE:WPC)

McGlone Suttner Wealth Management Inc. grew its holdings in W. P. Carey Inc. (NYSE:WPC) by 8.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor 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 SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Fairfield Bush & CO. bought a new stake in W. P. Carey in the first quarter valued at about $26,000. Acadian Asset Management LLC bought a new position in shares of W. P. Carey during the first quarter worth about $26,000. ICA Group Wealth Management LLC acquired a new position in W. P. Carey during the fourth quarter valued at approximately $32,000. Quarry LP boosted its position in W. P. Carey by 438.5% during the second quarter. Quarry LP now owns 420 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 342 shares during the last quarter. Finally, Central Bank & Trust Co. acquired a new position in W. P. Carey during the fourth quarter valued at approximately $28,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Price Performance

Shares of WPC traded up $0.47 during midday trading on Thursday, hitting $56.44. The company’s stock had a trading volume of 1,227,789 shares, compared to its average volume of 1,457,506. W. P. Carey Inc. has a one year low of $51.36 and a one year high of $78.23. The company’s fifty day simple moving average is $58.32 and its two-hundred day simple moving average is $59.15. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $12.34 billion, a price-to-earnings ratio of 17.10, a price-to-earnings-growth ratio of 0.44 and a beta of 0.86.

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, beating the consensus estimate of $0.52 by $0.14. W. P. Carey had a return on equity of 7.78% and a net margin of 40.68%. The company had revenue of $410.38 million for the quarter, compared to analyst estimates of $413.04 million. During the same quarter last year, the company posted $1.29 EPS. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, equities analysts expect that W. P. Carey Inc. will post 4.57 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WPC. Barclays began coverage on W. P. Carey in a research report on Wednesday. They issued an “equal weight” rating and a $40.00 price objective 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. Scotiabank cut their price objective 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. Wells Fargo & Company lowered their target price on W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 20th. Finally, StockNews.com started coverage on W. P. Carey in a research note on Thursday, January 4th. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $63.36.

W. P. Carey 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.