W. P. Carey Inc. (NYSE:WPC) Shares Purchased by Kerntke Otto McGlone Wealth Management Group

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

A number of other large investors also recently modified their holdings of the business. Daiwa Securities Group Inc. boosted its position in W. P. Carey by 130.0% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,516,956 shares of the real estate investment trust’s stock valued at $136,117,000 after purchasing an additional 1,422,490 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of W. P. Carey by 6,411.6% during the fourth quarter. International Assets Investment Management LLC now owns 410,101 shares of the real estate investment trust’s stock valued at $26,579,000 after acquiring an additional 403,803 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of W. P. Carey by 17.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,285,355 shares of the real estate investment trust’s stock worth $123,592,000 after acquiring an additional 334,635 shares during the last quarter. Retirement Systems of Alabama acquired a new stake in shares of W. P. Carey in the 4th quarter worth about $17,750,000. Finally, Allspring Global Investments Holdings LLC lifted its position in W. P. Carey by 4,604.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 233,091 shares of the real estate investment trust’s stock valued at $12,606,000 after purchasing an additional 228,136 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors.

W. P. Carey Price Performance

Shares of NYSE:WPC traded up $0.76 during trading hours on Friday, hitting $56.68. 1,392,562 shares of the company’s stock traded hands, compared to its average volume of 1,164,508. The company’s fifty day simple moving average is $55.87 and its two-hundred day simple moving average is $58.84. The company has a market cap of $12.40 billion, a price-to-earnings ratio of 21.55, a price-to-earnings-growth ratio of 0.45 and a beta of 0.86. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.62 and a current ratio of 0.90. W. P. Carey Inc. has a 52 week low of $51.36 and a 52 week high of $73.60.

W. P. Carey (NYSE:WPC) last issued its earnings results on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.14. The firm had revenue of $410.38 million during the quarter, compared to analysts’ expectations of $413.04 million. W. P. Carey had a net margin of 33.65% and a return on equity of 6.41%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the firm posted $1.29 earnings per share. As a group, equities analysts anticipate that W. P. Carey Inc. will post 4.53 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.865 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.86. This represents a $3.46 dividend on an annualized basis and a dividend yield of 6.10%. W. P. Carey’s payout ratio is 131.56%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Royal Bank of Canada decreased their target price on shares of W. P. Carey from $65.00 to $63.00 and set an “outperform” rating for the company in a research report on Friday. Wells Fargo & Company decreased their price objective on 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. Scotiabank cut their target price on W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Monday, March 4th. Raymond James cut W. P. Carey from an “outperform” rating to a “market perform” rating in a research note on Monday, February 12th. Finally, Barclays began coverage on shares of 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. Two equities research 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $63.18.

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.