McGlone Suttner Wealth Management Inc. Has $636,000 Holdings in W.P. Carey Inc. (NYSE:WPC)

McGlone Suttner Wealth Management Inc. boosted its position in W.P. Carey Inc. (NYSE:WPC) by 34.9% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 10,071 shares of the real estate investment trust’s stock after purchasing an additional 2,604 shares during the period. McGlone Suttner Wealth Management Inc.’s holdings in W.P. Carey were worth $636,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of WPC. Norges Bank bought a new stake in W.P. Carey in the fourth quarter valued at $139,381,000. Demars Financial Group LLC increased its stake in W.P. Carey by 10,001.1% in the fourth quarter. Demars Financial Group LLC now owns 998,292 shares of the real estate investment trust’s stock valued at $54,387,000 after purchasing an additional 988,409 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in W.P. Carey by 29.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,022,953 shares of the real estate investment trust’s stock valued at $219,170,000 after purchasing an additional 906,622 shares in the last quarter. Northern Trust Corp increased its stake in W.P. Carey by 40.3% in the fourth quarter. Northern Trust Corp now owns 2,641,229 shares of the real estate investment trust’s stock valued at $143,894,000 after purchasing an additional 758,627 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in W.P. Carey in the fourth quarter valued at $31,442,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on WPC. BNP Paribas Exane raised shares of W.P. Carey from an “underperform” rating to a “neutral” rating and set a $66.00 price target for the company in a research note on Monday, June 9th. Evercore ISI boosted their target price on shares of W.P. Carey from $65.00 to $66.00 and gave the stock an “in-line” rating in a research report on Wednesday. BNP Paribas set a $66.00 target price on shares of W.P. Carey and gave the stock a “neutral” rating in a research report on Monday, June 9th. Scotiabank boosted their target price on shares of W.P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Wednesday, March 12th. Finally, Wells Fargo & Company boosted their target price on shares of W.P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, W.P. Carey presently has a consensus rating of “Hold” and an average price target of $100.60.

W.P. Carey Stock Down 0.5%

Shares of WPC stock opened at $63.00 on Friday. W.P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $66.10. The company has a 50 day simple moving average of $62.26 and a two-hundred day simple moving average of $59.99. The stock has a market cap of $13.79 billion, a P/E ratio of 32.47, a P/E/G ratio of 7.04 and a beta of 0.78. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.92.

W.P. Carey (NYSE:WPC) last announced its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.03). W.P. Carey had a return on equity of 5.02% and a net margin of 26.66%. The firm had revenue of $407.44 million during the quarter, compared to analysts’ expectations of $412.99 million. During the same period last year, the company earned $1.14 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, research analysts expect that W.P. Carey Inc. will post 4.87 earnings per share for the current year.

W.P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 5.71%. The ex-dividend date is Monday, June 30th. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.89. W.P. Carey’s dividend payout ratio (DPR) is 185.57%.

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.