W. P. Carey Inc. (NYSE:WPC) Shares Bought by Griffin Asset Management Inc.

Griffin Asset Management Inc. lifted its position in shares of W. P. Carey Inc. (NYSE:WPC) by 4.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,810 shares of the real estate investment trust’s stock after acquiring an additional 1,094 shares during the quarter. Griffin Asset Management Inc.’s holdings in W. P. Carey were worth $1,457,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in WPC. Daiwa Securities Group Inc. increased its position in W. P. Carey by 44.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 3,640,966 shares of the real estate investment trust’s stock worth $235,971,000 after purchasing an additional 1,124,010 shares during the period. Norges Bank purchased a new stake in shares of W. P. Carey during the 4th quarter worth $157,107,000. Russell Investments Group Ltd. grew its stake in shares of W. P. Carey by 99.7% during the 4th quarter. Russell Investments Group Ltd. now owns 351,187 shares of the real estate investment trust’s stock worth $22,810,000 after purchasing an additional 175,347 shares during the period. Principal Securities Inc. purchased a new position in shares of W. P. Carey in the 4th quarter valued at about $951,000. Finally, M&T Bank Corp boosted its holdings in 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. 73.73% of the stock is owned by hedge funds and other institutional investors.

W. P. Carey Trading Up 0.5 %

Shares of NYSE:WPC traded up $0.27 during midday trading on Friday, reaching $55.05. The company’s stock had a trading volume of 2,302,715 shares, compared to its average volume of 1,437,634. The business has a 50 day moving average price of $56.69 and a 200 day moving average price of $58.79. W. P. Carey Inc. has a 1 year low of $51.36 and a 1 year high of $73.38. The firm has a market cap of $12.05 billion, a price-to-earnings ratio of 20.93, a price-to-earnings-growth ratio of 1.03 and a beta of 0.91. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.87.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.87 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 6.32%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio is currently 131.56%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on WPC. Wells Fargo & Company reduced their price target on shares of W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating for the company in a research report on Thursday, May 30th. UBS Group assumed coverage on W. P. Carey in a research report on Friday, May 31st. They issued a “neutral” rating and a $57.00 price target for the company. Barclays initiated coverage on shares of W. P. Carey in a research report on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 price objective on the stock. Royal Bank of Canada dropped 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 report on Friday, May 3rd. Finally, JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a report on Friday, June 21st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $59.70.

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.