Apollon Wealth Management LLC Purchases 6,367 Shares of W. P. Carey Inc. (NYSE:WPC)

Apollon Wealth Management LLC boosted its position in W. P. Carey Inc. (NYSE:WPC) by 37.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,254 shares of the real estate investment trust’s stock after purchasing an additional 6,367 shares during the period. Apollon Wealth Management LLC’s holdings in W. P. Carey were worth $1,267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of WPC. RFG Advisory LLC lifted its holdings in W. P. Carey by 91.7% during the 4th quarter. RFG Advisory LLC now owns 6,373 shares of the real estate investment trust’s stock valued at $347,000 after buying an additional 3,049 shares in the last quarter. Equity Investment Corp raised its stake in shares of W. P. Carey by 0.7% during the third quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock valued at $92,305,000 after acquiring an additional 9,610 shares in the last quarter. Stoneridge Investment Partners LLC purchased a new stake in shares of W. P. Carey in the third quarter valued at approximately $1,692,000. abrdn plc grew its stake in W. P. Carey by 9.9% in the third quarter. abrdn plc now owns 102,657 shares of the real estate investment trust’s stock worth $6,396,000 after purchasing an additional 9,229 shares in the last quarter. Finally, Stifel Financial Corp increased its holdings in W. P. Carey by 7.0% during the 3rd quarter. Stifel Financial Corp now owns 31,784 shares of the real estate investment trust’s stock worth $1,980,000 after purchasing an additional 2,075 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Performance

WPC opened at $55.78 on Tuesday. W. P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $64.26. The firm has a market capitalization of $12.21 billion, a PE ratio of 21.96, a PEG ratio of 1.02 and a beta of 0.97. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. The firm’s 50-day moving average price is $55.28 and its 200 day moving average price is $57.63.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 6.31%. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s payout ratio is presently 138.58%.

Analysts Set New Price Targets

Several research firms recently weighed in on WPC. Scotiabank decreased their price objective on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a report on Thursday, January 16th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research note on Friday, January 10th. Barclays decreased their price objective on W. P. Carey from $59.00 to $56.00 and set an “underweight” rating for the company in a research note on Tuesday, February 4th. Finally, 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 note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $62.00.

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.