Griffin Asset Management Inc. Sells 8,861 Shares of W.P. Carey Inc. $WPC

Griffin Asset Management Inc. trimmed its holdings in shares of W.P. Carey Inc. (NYSE:WPC) by 30.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Laurel Wealth Advisors LLC purchased a new position in W.P. Carey in the 4th quarter worth approximately $25,000. Commonwealth Retirement Investments LLC bought a new position in W.P. Carey during the 4th quarter worth approximately $26,000. Olistico Wealth LLC purchased a new position in shares of W.P. Carey in the fourth quarter valued at about $28,000. Osbon Capital Management LLC purchased a new position in W.P. Carey during the 4th quarter valued at about $29,000. Finally, Headlands Technologies LLC bought a new position in shares of W.P. Carey during the second quarter valued at approximately $30,000. 73.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. BMO Capital Markets dropped their price target on W.P. Carey from $86.00 to $84.00 and set an “outperform” rating for the company in a research note 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 price objective on the stock in a research report on Monday, June 8th. Wells Fargo & Company upped their price objective on shares of W.P. Carey from $77.00 to $80.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Bank of America raised shares of W.P. Carey from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $73.00 to $83.00 in a research report on Tuesday, June 16th. Finally, Citigroup reiterated a “market perform” rating on shares of W.P. Carey in a research report on Thursday, June 18th. Six equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $77.83.

Insider Activity

In other news, CAO Brian H. Zander sold 433 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $74.00, for a total value of $32,042.00. Following the sale, the chief accounting officer directly owned 13,882 shares of the company’s stock, valued at $1,027,268. The trade was a 3.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.98% of the company’s stock.

W.P. Carey Stock Performance

Shares of WPC stock opened at $70.98 on Friday. W.P. Carey Inc. has a 12 month low of $61.09 and a 12 month high of $76.97. The stock has a market cap of $15.81 billion, a PE ratio of 30.33, a price-to-earnings-growth ratio of 2.72 and a beta of 0.76. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 1.04. The company’s fifty day moving average price is $73.44 and its 200-day moving average price is $71.23.

W.P. Carey (NYSE:WPC) last issued its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.69. W.P. Carey had a net margin of 29.35% and a return on equity of 6.29%. The company had revenue of $454.51 million during the quarter, compared to analyst estimates of $430.64 million. During the same period last year, the business earned $1.17 EPS. W.P. Carey’s quarterly revenue was up 11.2% compared to the same quarter last year. W.P. Carey has set its FY 2026 guidance at 5.160-5.260 EPS. On average, equities analysts expect that W.P. Carey Inc. will post 5.06 EPS for the current fiscal year.

W.P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.94 per share. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.93. This represents a $3.76 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend is Tuesday, June 30th. W.P. Carey’s payout ratio is 160.68%.

W.P. Carey Company Profile

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.