Apollon Financial LLC Invests $366,000 in W. P. Carey Inc. (NYSE:WPC)

Apollon Financial LLC acquired a new position in W. P. Carey Inc. (NYSE:WPC) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 5,876 shares of the real estate investment trust’s stock, valued at approximately $366,000.

Several other institutional investors also recently modified their holdings of WPC. Massachusetts Financial Services Co. MA increased its position in shares of W. P. Carey by 22.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,240,705 shares of the real estate investment trust’s stock worth $178,401,000 after purchasing an additional 588,636 shares during the last quarter. Hsbc Holdings PLC increased its position in shares of W. P. Carey by 185.7% in the second quarter. Hsbc Holdings PLC now owns 684,355 shares of the real estate investment trust’s stock worth $37,631,000 after purchasing an additional 444,785 shares during the last quarter. Equity Investment Corp increased its position in shares of W. P. Carey by 38.9% in the second quarter. Equity Investment Corp now owns 1,472,017 shares of the real estate investment trust’s stock worth $81,035,000 after purchasing an additional 412,450 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of W. P. Carey by 6,145.1% in the third quarter. International Assets Investment Management LLC now owns 407,304 shares of the real estate investment trust’s stock worth $25,375,000 after purchasing an additional 400,782 shares during the last quarter. Finally, PGGM Investments increased its position in shares of W. P. Carey by 18.5% in the second quarter. PGGM Investments now owns 2,498,975 shares of the real estate investment trust’s stock worth $137,569,000 after purchasing an additional 389,853 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on WPC shares. Barclays increased their price target on shares of W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. UBS Group increased their price target on shares of W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Evercore ISI increased their price target on shares of W. P. Carey from $63.00 to $66.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Royal Bank of Canada reduced their price target on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $63.00 price target (up from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, W. P. Carey presently has an average rating of “Hold” and a consensus target price of $63.25.

W. P. Carey Stock Down 1.8 %

Shares of W. P. Carey stock opened at $55.72 on Tuesday. 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 52-week low of $53.01 and a 52-week high of $67.40. The stock has a market capitalization of $12.19 billion, a price-to-earnings ratio of 21.94, a P/E/G ratio of 1.06 and a beta of 0.95. The company’s 50 day moving average price is $59.96 and its 200-day moving average price is $58.23.

W. P. Carey (NYSE:WPC) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.62). W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The firm had revenue of $394.78 million during the quarter, compared to the consensus estimate of $377.43 million. During the same quarter in the prior year, the business posted $1.32 EPS. The firm’s revenue for the quarter was down 11.9% on a year-over-year basis. Equities research analysts forecast that W. P. Carey Inc. will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.875 dividend. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date was Monday, September 30th. This represents a $3.50 dividend on an annualized basis and a yield of 6.28%. W. P. Carey’s dividend payout ratio (DPR) is presently 137.80%.

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.