Apollon Wealth Management LLC Buys 10,804 Shares of W.P. Carey Inc. $WPC

Apollon Wealth Management LLC raised its position in W.P. Carey Inc. (NYSE:WPC) by 49.4% during the third 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 purchasing an additional 10,804 shares during the quarter. Apollon Wealth Management LLC’s holdings in W.P. Carey were worth $2,208,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Griffin Asset Management Inc. raised its stake in shares of W.P. Carey by 0.6% during the second quarter. Griffin Asset Management Inc. now owns 32,236 shares of the real estate investment trust’s stock valued at $2,011,000 after acquiring an additional 178 shares in the last quarter. BridgePort Financial Solutions LLC grew its holdings in W.P. Carey by 0.6% during the second quarter. BridgePort Financial Solutions LLC now owns 28,681 shares of the real estate investment trust’s stock worth $1,789,000 after acquiring an additional 180 shares during the period. Cooper Financial Group grew its position in W.P. Carey by 1.5% during the second quarter. Cooper Financial Group now owns 12,005 shares of the real estate investment trust’s stock valued at $749,000 after buying an additional 181 shares during the period. Kovack Advisors Inc. raised its position in shares of W.P. Carey by 3.3% in the second quarter. Kovack Advisors Inc. now owns 5,779 shares of the real estate investment trust’s stock worth $360,000 after acquiring an additional 186 shares during the period. Finally, Motco boosted its stake in shares of W.P. Carey by 6.3% during the 2nd quarter. Motco now owns 3,139 shares of the real estate investment trust’s stock worth $201,000 after acquiring an additional 187 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on WPC. Weiss Ratings restated a “hold (c)” rating on shares of W.P. Carey in a report on Wednesday, October 8th. Evercore ISI lowered their target price on shares of W.P. Carey from $72.00 to $71.00 and set an “in-line” rating for the company in a research note on Monday, December 15th. Scotiabank raised their price objective on shares of W.P. Carey from $64.00 to $67.00 and gave the stock a “sector perform” rating in a report on Friday, September 5th. Royal Bank Of Canada restated a “sector perform” rating and set a $69.00 price objective on shares of W.P. Carey in a research report on Monday, December 8th. Finally, JPMorgan Chase & Co. lowered their target price on shares of W.P. Carey from $79.00 to $74.00 and set an “overweight” rating for the company in a report on Tuesday, December 9th. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, W.P. Carey has an average rating of “Hold” and an average price target of $68.50.

W.P. Carey Trading Up 0.8%

NYSE:WPC opened at $65.29 on Wednesday. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 1.02. The stock has a fifty day simple moving average of $66.20 and a 200-day simple moving average of $65.81. W.P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $69.79. The company has a market capitalization of $14.31 billion, a PE ratio of 39.57, a price-to-earnings-growth ratio of 6.06 and a beta of 0.78.

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, topping the consensus estimate of $1.23 by $0.02. The company had revenue of $431.30 million for the quarter, compared to analysts’ expectations of $424.44 million. W.P. Carey had a net margin of 21.75% and a return on equity of 4.40%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period last year, the company earned $1.18 EPS. W.P. Carey has set its FY 2025 guidance at 4.930-4.990 EPS. On average, equities research analysts expect that W.P. Carey Inc. will post 4.87 earnings per share for the current fiscal year.

W.P. Carey Increases Dividend

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