W. P. Carey Inc. (NYSE:WPC) Shares Sold by Apollon Financial LLC

Apollon Financial LLC lessened its holdings in W. P. Carey Inc. (NYSE:WPC) by 16.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,910 shares of the real estate investment trust’s stock after selling 966 shares during the quarter. Apollon Financial LLC’s holdings in W. P. Carey were worth $267,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of WPC. Maia Wealth LLC purchased a new position in W. P. Carey in the third quarter valued at $40,000. Abich Financial Wealth Management LLC boosted its stake in shares of W. P. Carey by 2,374.1% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 641 shares during the period. Fortitude Family Office LLC grew its position in shares of W. P. Carey by 962.5% during the third quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 616 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of W. P. Carey during the third quarter worth approximately $44,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in W. P. Carey by 70.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 824 shares of the real estate investment trust’s stock valued at $51,000 after acquiring an additional 341 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a report on Friday, January 10th. Barclays dropped their target price on W. P. Carey from $59.00 to $56.00 and set an “underweight” rating on the stock in a report on Tuesday. UBS Group decreased their price target on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Finally, Scotiabank dropped their price objective on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, W. P. Carey has an average rating of “Hold” and an average price target of $62.00.

W. P. Carey Stock Down 0.0 %

W. P. Carey stock opened at $56.08 on Friday. The stock has a 50-day simple moving average of $55.30 and a 200-day simple moving average of $57.69. The company has a market capitalization of $12.27 billion, a P/E ratio of 22.08, a PEG ratio of 1.01 and a beta of 0.97. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $64.26.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 6.28%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Tuesday, December 31st. W. P. Carey’s payout ratio is presently 138.58%.

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.