Demars Financial Group LLC Has $66.95 Million Holdings in W. P. Carey Inc. (NYSE:WPC)

Demars Financial Group LLC increased its stake in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 6.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,060,816 shares of the real estate investment trust's stock after purchasing an additional 62,524 shares during the period. Demars Financial Group LLC owned approximately 0.48% of W. P. Carey worth $66,948,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Bfsg LLC acquired a new stake in shares of W. P. Carey during the first quarter worth $173,000. FNY Investment Advisers LLC acquired a new position in W. P. Carey in the first quarter valued at about $359,000. QRG Capital Management Inc. grew its stake in W. P. Carey by 12.5% in the first quarter. QRG Capital Management Inc. now owns 132,034 shares of the real estate investment trust's stock valued at $8,333,000 after acquiring an additional 14,689 shares during the period. Sagespring Wealth Partners LLC acquired a new position in W. P. Carey in the first quarter valued at about $216,000. Finally, Hanson & Doremus Investment Management acquired a new position in W. P. Carey in the first quarter valued at about $85,000. 73.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WPC has been the subject of a number of research analyst reports. UBS Group decreased their target price on W. P. Carey from $66.00 to $63.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Royal Bank of Canada boosted their target price on W. P. Carey from $410.00 to $420.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Evercore ISI boosted their target price on W. P. Carey from $60.00 to $64.00 and gave the company an "in-line" rating in a research note on Wednesday, February 19th. BNP Paribas set a $66.00 target price on W. P. Carey and gave the company a "neutral" rating in a research note on Monday, June 9th. Finally, BMO Capital Markets raised W. P. Carey from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $60.00 to $67.00 in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $100.40.

W. P. Carey Stock Performance

WPC opened at $62.78 on Tuesday. W. P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $66.10. The firm has a market capitalization of $13.75 billion, a PE ratio of 30.04, a PEG ratio of 1.06 and a beta of 0.80. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. The business's 50-day simple moving average is $61.42 and its 200 day simple moving average is $59.30.

W. P. Carey (NYSE:WPC - Get Free Report) last released its earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.03). W. P. Carey had a return on equity of 5.37% and a net margin of 29.11%. The company had revenue of $407.44 million for the quarter, compared to the consensus estimate of $412.99 million. During the same quarter in the previous year, the company posted $1.14 EPS. The business's revenue was up 5.3% on a year-over-year basis. As a group, sell-side 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 Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 5.73%. The ex-dividend date is Monday, June 30th. This is a positive change from W. P. Carey's previous quarterly dividend of $0.89. W. P. Carey's dividend payout ratio is presently 185.57%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.