Apollon Wealth Management LLC Decreases Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

Apollon Wealth Management LLC trimmed its position in shares of W. P. Carey Inc. (NYSE:WPC) by 3.4% during the 3rd quarter, Holdings Channel reports. The fund owned 16,887 shares of the real estate investment trust’s stock after selling 591 shares during the period. Apollon Wealth Management LLC’s holdings in W. P. Carey were worth $1,052,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Massmutual Trust Co. FSB ADV increased its position in shares of W. P. Carey by 93.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 231 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of W. P. Carey by 1,510.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 483 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 453 shares during the last quarter. Quarry LP increased its position in shares of W. P. Carey by 175.9% during the 2nd quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 357 shares during the last quarter. Lynx Investment Advisory bought a new position in shares of W. P. Carey during the 2nd quarter valued at approximately $34,000. Finally, EdgeRock Capital LLC bought a new position in shares of W. P. Carey during the 2nd quarter valued at approximately $39,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

W. P. Carey Price Performance

Shares of WPC stock opened at $55.77 on Friday. W. P. Carey Inc. has a twelve month low of $53.09 and a twelve month high of $67.40. The stock has a market capitalization of $12.21 billion, a price-to-earnings ratio of 21.96, a P/E/G ratio of 1.03 and a beta of 0.95. The stock has a fifty day simple moving average of $59.52 and a two-hundred day simple moving average of $58.19. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90.

W. P. Carey (NYSE:WPC) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.62). The firm had revenue of $394.78 million during the quarter, compared to analysts’ expectations of $377.43 million. W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. W. P. Carey’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.32 earnings per share. On average, analysts predict that W. P. Carey Inc. will post 4.52 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.875 per share. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.28%. The ex-dividend date of this dividend was Monday, September 30th. W. P. Carey’s dividend payout ratio is 137.80%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. UBS Group cut their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $63.00 price objective (up previously from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Royal Bank of Canada cut their price objective on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. Evercore ISI upped their price objective on W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, Barclays upped their price objective on W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $62.88.

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.