Apollon Wealth Management LLC Has $1.13 Million Holdings in W. P. Carey Inc. (NYSE:WPC)

Apollon Wealth Management LLC grew its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,504 shares of the real estate investment trust’s stock after acquiring an additional 255 shares during the quarter. Apollon Wealth Management LLC’s holdings in W. P. Carey were worth $1,134,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Central Bank & Trust Co. bought a new stake in shares of W. P. Carey during the fourth quarter worth $28,000. FNY Investment Advisers LLC bought a new stake in W. P. Carey during the 4th quarter worth $32,000. Covestor Ltd increased its holdings in W. P. Carey by 316.5% in the 3rd quarter. Covestor Ltd now owns 783 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 595 shares in the last quarter. First Horizon Advisors Inc. bought a new position in W. P. Carey in the third quarter valued at about $45,000. Finally, Provence Wealth Management Group acquired a new stake in shares of W. P. Carey during the third quarter valued at about $46,000. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Price Performance

Shares of WPC opened at $56.76 on Thursday. The firm has a market cap of $12.42 billion, a PE ratio of 21.58, a price-to-earnings-growth ratio of 0.45 and a beta of 0.86. W. P. Carey Inc. has a 52-week low of $51.36 and a 52-week high of $73.38. The business’s 50 day moving average price is $56.01 and its two-hundred day moving average price is $58.95. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.90 and a current ratio of 0.90.

W. P. Carey (NYSE:WPC) last released its earnings results on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. The company had revenue of $410.38 million for the quarter, compared to the consensus estimate of $413.04 million. W. P. Carey had a net margin of 33.65% and a return on equity of 6.41%. W. P. Carey’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.29 EPS. On average, equities analysts anticipate that W. P. Carey Inc. will post 4.53 EPS for the current year.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a $0.865 dividend. This represents a $3.46 dividend on an annualized basis and a yield of 6.10%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Wednesday, March 27th. W. P. Carey’s payout ratio is presently 131.56%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on WPC. Raymond James downgraded W. P. Carey from an “outperform” rating to a “market perform” rating in a research note on Monday, February 12th. Wells Fargo & Company cut their price target on shares of W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 20th. Royal Bank of Canada decreased their price objective on W. P. Carey from $65.00 to $63.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. Scotiabank cut their target price on W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating on the stock in a report on Monday, March 4th. Finally, Barclays assumed coverage on W. P. Carey in a research note on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 price target for the company. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $63.18.

W. P. Carey Company 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.