W.P. Carey Inc. $WPC Shares Purchased by Apollon Wealth Management LLC

Apollon Wealth Management LLC increased its position in shares of W.P. Carey Inc. (NYSE:WPC) by 49.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,673 shares of the real estate investment trust’s stock after buying an additional 10,804 shares during the period. Apollon Wealth Management LLC’s holdings in W.P. Carey were worth $2,208,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in WPC. Northwestern Mutual Wealth Management Co. raised its holdings in shares of W.P. Carey by 40.9% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 8,451 shares of the real estate investment trust’s stock worth $533,000 after purchasing an additional 2,454 shares during the period. Ieq Capital LLC grew its stake in shares of W.P. Carey by 127.8% in the first quarter. Ieq Capital LLC now owns 9,508 shares of the real estate investment trust’s stock worth $600,000 after purchasing an additional 5,335 shares in the last quarter. Evergreen Capital Management LLC raised its stake in shares of W.P. Carey by 5.1% in the 1st quarter. Evergreen Capital Management LLC now owns 7,058 shares of the real estate investment trust’s stock worth $451,000 after buying an additional 345 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of W.P. Carey by 1.7% in the 1st quarter. Royal Bank of Canada now owns 252,264 shares of the real estate investment trust’s stock worth $15,921,000 after purchasing an additional 4,125 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC boosted its stake in shares of W.P. Carey by 63.6% during the 1st quarter. Focus Partners Advisor Solutions LLC now owns 10,069 shares of the real estate investment trust’s stock worth $636,000 after acquiring an additional 3,916 shares in the last quarter. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Wells Fargo & Company raised W.P. Carey from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $68.00 to $72.00 in a research report on Thursday, September 11th. Evercore ISI dropped their target price on W.P. Carey from $72.00 to $71.00 and set an “in-line” rating for the company in a report on Monday, December 15th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $69.00 target price on shares of W.P. Carey in a research note on Monday, December 8th. Scotiabank raised their price objective on shares of W.P. Carey from $64.00 to $67.00 and gave the company a “sector perform” rating in a research report on Friday, September 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of W.P. Carey in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, W.P. Carey has an average rating of “Hold” and a consensus price target of $68.50.

W.P. Carey Price Performance

Shares of NYSE WPC opened at $65.29 on Wednesday. The firm has a market cap of $14.31 billion, a PE ratio of 39.57, a PEG ratio of 6.06 and a beta of 0.78. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 1.02. W.P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $69.79. The company has a fifty day moving average price of $66.20 and a 200 day moving average price of $65.81.

W.P. Carey (NYSE:WPC) last released its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.02. The firm had revenue of $431.30 million for the quarter, compared to the consensus estimate of $424.44 million. W.P. Carey had a return on equity of 4.40% and a net margin of 21.75%.The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the business posted $1.18 EPS. W.P. Carey has set its FY 2025 guidance at 4.930-4.990 EPS. Research analysts predict that W.P. Carey Inc. will post 4.87 earnings per share for the current fiscal year.

W.P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.92 per share. The ex-dividend date is Wednesday, December 31st. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.91. This represents a $3.68 annualized dividend and a yield of 5.6%. W.P. Carey’s dividend payout ratio is currently 220.61%.

W.P. Carey Company Profile

W. P. Carey Inc is a diversified net-lease real estate investment trust specializing in single-tenant commercial properties. The company structures sale-leaseback and build-to-suit transactions to provide long-term net lease financing across a variety of asset classes, including industrial facilities, office buildings, retail centers and self-storage facilities. By employing triple net leases, W. P. Carey transfers property operating expenses, taxes and maintenance responsibility to tenants, creating a stable, predictable income stream for investors.

Founded in 1973 by William Polk Carey, the firm has expanded organically and through strategic mergers and acquisitions.