Griffin Asset Management Inc. Decreases Stock Position in W.P. Carey Inc. $WPC

Griffin Asset Management Inc. cut its holdings in W.P. Carey Inc. (NYSE:WPC) by 30.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,412 shares of the real estate investment trust’s stock after selling 8,861 shares during the quarter. Griffin Asset Management Inc.’s holdings in W.P. Carey were worth $1,387,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Laurel Wealth Advisors LLC purchased a new stake in shares of W.P. Carey during the fourth quarter valued at $25,000. Commonwealth Retirement Investments LLC purchased a new position in W.P. Carey in the 4th quarter worth about $26,000. Olistico Wealth LLC bought a new position in W.P. Carey during the 4th quarter valued at about $28,000. Osbon Capital Management LLC purchased a new stake in shares of W.P. Carey during the 4th quarter valued at about $29,000. Finally, Headlands Technologies LLC purchased a new stake in shares of W.P. Carey during the 2nd quarter valued at about $30,000. Institutional investors own 73.73% of the company’s stock.

W.P. Carey Trading Up 0.7%

W.P. Carey stock opened at $70.98 on Friday. The firm has a market capitalization of $15.81 billion, a price-to-earnings ratio of 30.33, a P/E/G ratio of 2.72 and a beta of 0.76. W.P. Carey Inc. has a 12-month low of $61.09 and a 12-month high of $76.97. The firm has a 50 day moving average of $73.44 and a 200 day moving average of $71.23. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 1.04.

W.P. Carey (NYSE:WPC) last released its earnings results on Tuesday, April 28th. The real estate investment trust reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.69. The company had revenue of $454.51 million for the quarter, compared to analysts’ expectations of $430.64 million. W.P. Carey had a net margin of 29.35% and a return on equity of 6.29%. W.P. Carey’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.17 EPS. W.P. Carey has set its FY 2026 guidance at 5.160-5.260 EPS. As a group, research analysts predict that W.P. Carey Inc. will post 5.06 earnings per share for the current year.

W.P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 5.3%. This is a boost from W.P. Carey’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Tuesday, June 30th. W.P. Carey’s payout ratio is presently 160.68%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. BMO Capital Markets decreased their price objective on shares of W.P. Carey from $86.00 to $84.00 and set an “outperform” rating for the company in a report on Thursday, June 18th. Wolfe Research raised shares of W.P. Carey from a “peer perform” rating to an “outperform” rating and set a $85.00 target price for the company in a research report on Monday, June 8th. Barclays boosted their target price on shares of W.P. Carey from $72.00 to $78.00 and gave the company an “underweight” rating in a research note on Tuesday, May 19th. Wells Fargo & Company increased their price target on W.P. Carey from $77.00 to $80.00 and gave the company an “overweight” rating in a report on Monday, June 1st. Finally, Royal Bank Of Canada lifted their price objective on W.P. Carey from $72.00 to $73.00 and gave the stock a “sector perform” rating in a report on Thursday, April 30th. Six analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, W.P. Carey currently has an average rating of “Hold” and a consensus price target of $77.83.

Insider Activity at W.P. Carey

In other news, CAO Brian H. Zander sold 433 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $74.00, for a total transaction of $32,042.00. Following the completion of the transaction, the chief accounting officer owned 13,882 shares in the company, valued at $1,027,268. This trade represents a 3.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.98% of the stock is owned by company insiders.

About W.P. Carey

W. P. Carey Inc is a diversified net-lease real estate investment trust specializing in single-tenant commercial properties. The company structures sale-leaseback and build-to-suit transactions to provide long-term net lease financing across a variety of asset classes, including industrial facilities, office buildings, retail centers and self-storage facilities. By employing triple net leases, W. P. Carey transfers property operating expenses, taxes and maintenance responsibility to tenants, creating a stable, predictable income stream for investors.

Founded in 1973 by William Polk Carey, the firm has expanded organically and through strategic mergers and acquisitions.