Demars Financial Group LLC Increases Holdings in W. P. Carey Inc. (NYSE:WPC)

Demars Financial Group LLC lifted its position in W. P. Carey Inc. (NYSE:WPC) by 10,001.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 998,292 shares of the real estate investment trust’s stock after buying an additional 988,409 shares during the period. Demars Financial Group LLC owned approximately 0.46% of W. P. Carey worth $54,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Stifel Financial Corp grew its stake in shares of W. P. Carey by 7.0% during the 3rd 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 period. Wilmington Savings Fund Society FSB purchased a new position in shares of W. P. Carey in the third quarter worth approximately $262,000. Franklin Resources Inc. increased its holdings in W. P. Carey by 20.4% during the third quarter. Franklin Resources Inc. now owns 165,184 shares of the real estate investment trust’s stock valued at $9,898,000 after buying an additional 28,022 shares during the last quarter. JPMorgan Chase & Co. raised its position in W. P. Carey by 21.1% in the third quarter. JPMorgan Chase & Co. now owns 1,514,049 shares of the real estate investment trust’s stock worth $94,325,000 after acquiring an additional 264,230 shares during the period. Finally, Everence Capital Management Inc. bought a new position in W. P. Carey in the fourth quarter worth approximately $286,000. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Trading Up 1.3 %

WPC stock opened at $61.36 on Thursday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98. W. P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $66.10. The business has a 50 day simple moving average of $61.15 and a two-hundred day simple moving average of $58.10. The company has a market capitalization of $13.44 billion, a price-to-earnings ratio of 29.36, a PEG ratio of 1.06 and a beta of 0.81.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.89 per share. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Monday, March 31st. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.80%. W. P. Carey’s dividend payout ratio is currently 170.33%.

Wall Street Analyst Weigh In

Several research firms have recently commented on WPC. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $60.00 to $67.00 in a research note on Tuesday, February 18th. Barclays lifted their price objective on W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a research report on Tuesday, March 4th. Evercore ISI increased their target price on shares of W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Finally, Scotiabank lifted their price target on shares of W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $63.75.

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.