Apollon Wealth Management LLC Sells 591 Shares of W. P. Carey Inc. (NYSE:WPC)

Apollon Wealth Management LLC trimmed its holdings in W. P. Carey Inc. (NYSE:WPC) by 3.4% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 16,887 shares of the real estate investment trust’s stock after selling 591 shares during the quarter. 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 large investors also recently bought and sold shares of WPC. Jeppson Wealth Management LLC grew its stake in shares of W. P. Carey by 2.2% during the 3rd quarter. Jeppson Wealth Management LLC now owns 22,085 shares of the real estate investment trust’s stock valued at $1,376,000 after purchasing an additional 480 shares during the period. Crossmark Global Holdings Inc. grew its stake in shares of W. P. Carey by 6.6% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 15,081 shares of the real estate investment trust’s stock valued at $940,000 after purchasing an additional 928 shares during the period. Legacy Capital Wealth Partners LLC grew its stake in shares of W. P. Carey by 20.7% during the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 9,109 shares of the real estate investment trust’s stock valued at $567,000 after purchasing an additional 1,560 shares during the period. XML Financial LLC grew its stake in shares of W. P. Carey by 5.1% during the 3rd quarter. XML Financial LLC now owns 34,817 shares of the real estate investment trust’s stock valued at $2,169,000 after purchasing an additional 1,684 shares during the period. Finally, Demars Financial Group LLC grew its stake in shares of W. P. Carey by 2.2% during the 3rd quarter. Demars Financial Group LLC now owns 9,883 shares of the real estate investment trust’s stock valued at $616,000 after purchasing an additional 216 shares during the period. 73.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Evercore ISI boosted their price target on W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $63.00 price objective (up from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. UBS Group lowered their price objective on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday. Scotiabank lowered their price objective on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada lowered 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. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $62.88.

W. P. Carey Stock Up 1.7 %

NYSE WPC opened at $55.77 on Friday. The stock’s 50 day moving average is $59.52 and its 200 day moving average is $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 Inc. has a 12 month low of $53.09 and a 12 month high of $67.40. The stock has a market cap of $12.21 billion, a PE ratio of 21.96, a P/E/G ratio of 1.03 and a beta of 0.95.

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

W. P. Carey Increases Dividend

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

About W. P. Carey

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.