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

Griffin Asset Management Inc. raised its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 7.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,058 shares of the real estate investment trust’s stock after acquiring an additional 2,289 shares during the quarter. Griffin Asset Management Inc.’s holdings in W. P. Carey were worth $2,023,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sei Investments Co. boosted its position in shares of W. P. Carey by 17.1% during the 4th quarter. Sei Investments Co. now owns 56,085 shares of the real estate investment trust’s stock worth $3,056,000 after acquiring an additional 8,197 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of W. P. Carey by 6.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,188,603 shares of the real estate investment trust’s stock valued at $119,235,000 after purchasing an additional 134,523 shares during the period. Geode Capital Management LLC boosted its position in shares of W. P. Carey by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 4,709,028 shares of the real estate investment trust’s stock valued at $256,201,000 after purchasing an additional 135,090 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in shares of W. P. Carey by 3.7% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 355,333 shares of the real estate investment trust’s stock valued at $19,359,000 after purchasing an additional 12,560 shares during the period. Finally, Vestcor Inc boosted its position in shares of W. P. Carey by 120.4% in the 4th quarter. Vestcor Inc now owns 69,640 shares of the real estate investment trust’s stock valued at $3,794,000 after purchasing an additional 38,043 shares during the period. 73.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the company. BNP Paribas Exane raised W. P. Carey from an “underperform” rating to a “neutral” rating and set a $66.00 price objective for the company in a research report on Monday, June 9th. Evercore ISI increased their price objective on W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. Royal Bank of Canada increased their price objective on W. P. Carey from $410.00 to $420.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. BNP Paribas set a $66.00 price objective on W. P. Carey and gave the stock a “neutral” rating in a research report on Monday. Finally, BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $60.00 to $67.00 in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $100.40.

W. P. Carey Price Performance

NYSE WPC opened at $63.29 on Friday. The stock has a market capitalization of $13.86 billion, a P/E ratio of 30.28, a P/E/G ratio of 1.06 and a beta of 0.80. W. P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $66.10. The business’s fifty day moving average is $61.28 and its two-hundred day moving average is $59.23. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98.

W. P. Carey (NYSE:WPC) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.03). W. P. Carey had a net margin of 29.11% and a return on equity of 5.37%. The firm had revenue of $407.44 million for the quarter, compared to analyst estimates of $412.99 million. During the same period last year, the firm earned $1.14 earnings per share. W. P. Carey’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, research analysts forecast that W. P. Carey Inc. will post 4.87 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 5.69%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Monday, June 30th. W. P. Carey’s dividend payout ratio is 183.51%.

W. P. Carey Company 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.