Griffin Asset Management Inc. Has $1.46 Million Stock Position in W. P. Carey Inc. (NYSE:WPC)

Griffin Asset Management Inc. boosted its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 4.4% in the first quarter, HoldingsChannel reports. The fund owned 25,810 shares of the real estate investment trust’s stock after buying an additional 1,094 shares during the quarter. Griffin Asset Management Inc.’s holdings in W. P. Carey were worth $1,457,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Daiwa Securities Group Inc. boosted its holdings in shares of W. P. Carey by 44.7% during the fourth 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 W. P. Carey in the 4th quarter worth approximately $157,107,000. Russell Investments Group Ltd. boosted 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 valued at $22,810,000 after buying an additional 175,347 shares during the period. Principal Securities Inc. purchased a new position in shares of W. P. Carey during the 4th quarter valued at $951,000. Finally, M&T Bank Corp increased its stake in shares of W. P. Carey by 2.7% in 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 acquiring an additional 825 shares during the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Performance

NYSE WPC traded up $0.27 during trading on Friday, hitting $55.05. The company’s stock had a trading volume of 2,302,715 shares, compared to its average volume of 1,437,634. W. P. Carey Inc. has a 52 week low of $51.36 and a 52 week high of $73.38. The firm has a market cap of $12.05 billion, a P/E ratio of 20.93, a price-to-earnings-growth ratio of 1.03 and a beta of 0.91. The firm has a 50 day moving average price of $56.69 and a 200 day moving average price of $58.79. 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 announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.87 per share. The ex-dividend date is Friday, June 28th. This represents a $3.48 dividend on an annualized basis and a yield of 6.32%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s payout ratio is 131.56%.

Analyst Ratings Changes

Several brokerages have recently issued reports on WPC. Scotiabank lifted their price target on W. P. Carey from $55.00 to $60.00 and gave the company a “sector perform” rating in a report on Thursday, May 16th. UBS Group began coverage on shares of W. P. Carey in a research report on Friday, May 31st. They issued a “neutral” rating and a $57.00 target price for the company. Barclays initiated coverage on shares of W. P. Carey in a report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 price target on the stock. Royal Bank of Canada reduced their price objective on shares of W. P. Carey from $65.00 to $63.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. Finally, Wells Fargo & Company lowered their target price on shares of W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 30th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, W. P. Carey presently has an average 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.