Demars Financial Group LLC Has $54.39 Million Stake in W. P. Carey Inc. (NYSE:WPC)

Demars Financial Group LLC grew its position in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 10,001.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 998,292 shares of the real estate investment trust's stock after purchasing an additional 988,409 shares during the period. Demars Financial Group LLC owned approximately 0.46% of W. P. Carey worth $54,387,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of WPC. Vanguard Group Inc. increased its stake in shares of W. P. Carey by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 30,820,665 shares of the real estate investment trust's stock worth $1,679,110,000 after acquiring an additional 242,576 shares in the last quarter. Geode Capital Management LLC increased its position in W. P. Carey by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 4,709,028 shares of the real estate investment trust's stock valued at $256,201,000 after acquiring an additional 135,090 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in W. P. Carey by 29.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,022,953 shares of the real estate investment trust's stock valued at $219,170,000 after buying an additional 906,622 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in W. P. Carey by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,641,815 shares of the real estate investment trust's stock worth $143,926,000 after purchasing an additional 43,197 shares during the period. Finally, Norges Bank purchased a new position in shares of W. P. Carey during the 4th quarter valued at about $139,381,000. Institutional investors own 73.73% of the company's stock.

W. P. Carey Stock Up 1.3 %

Shares of NYSE:WPC traded up $0.80 during midday trading on Tuesday, hitting $62.11. 312,906 shares of the company's stock traded hands, compared to its average volume of 1,263,230. The firm's fifty day moving average price is $61.48 and its two-hundred day moving average price is $58.08. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. W. P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $66.10. The company has a market cap of $13.60 billion, a PE ratio of 29.72, a P/E/G ratio of 1.06 and a beta of 0.81.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.89 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $3.56 annualized dividend and a yield of 5.73%. This is an increase from W. P. Carey's previous quarterly dividend of $0.88. W. P. Carey's payout ratio is presently 170.33%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Royal Bank of Canada increased their price objective on shares of W. P. Carey from $61.00 to $62.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. Evercore ISI raised their price target on shares of W. P. Carey from $60.00 to $64.00 and gave the stock an "in-line" rating in a research note on Wednesday, February 19th. Barclays upped their price target on shares of W. P. Carey from $56.00 to $60.00 and gave the stock an "underweight" rating in a research report on Tuesday, March 4th. JMP Securities reaffirmed a "market perform" rating on shares of W. P. Carey in a research report on Thursday, February 13th. Finally, Scotiabank increased their price objective on 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 equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, W. P. Carey has a consensus rating of "Hold" and a consensus target price 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.