W. P. Carey Inc. (NYSE:WPC) Shares Sold by Apollon Financial LLC

Apollon Financial LLC lessened its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 16.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,910 shares of the real estate investment trust’s stock after selling 966 shares during the quarter. Apollon Financial LLC’s holdings in W. P. Carey were worth $267,000 at the end of the most recent quarter.

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

W. P. Carey Stock Performance

NYSE:WPC opened at $56.08 on Friday. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $64.26. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. The company has a 50 day moving average price of $55.30 and a 200 day moving average price of $57.69. The stock has a market capitalization of $12.27 billion, a P/E ratio of 22.08, a PEG ratio of 1.01 and a beta of 0.97.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.88 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 dividend on an annualized basis and a dividend yield of 6.28%. W. P. Carey’s payout ratio is presently 138.58%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on WPC shares. Scotiabank lowered their price objective on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 16th. UBS Group dropped their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research note on Friday, January 10th. Finally, Barclays cut their price target on shares of W. P. Carey from $59.00 to $56.00 and set an “underweight” rating for the company in a report on Tuesday. One equities 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $62.00.

W. P. Carey 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.