Demars Financial Group LLC Grows Stake in W.P. Carey Inc. (NYSE:WPC)

Demars Financial Group LLC increased its position in W.P. Carey Inc. (NYSE:WPC - Free Report) by 6.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,060,816 shares of the real estate investment trust's stock after acquiring 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.

Several other hedge funds have also recently bought and sold shares of WPC. National Pension Service purchased a new stake in shares of W.P. Carey in the fourth quarter valued at about $25,000. Millstone Evans Group LLC acquired a new position in shares of W.P. Carey during the 4th quarter worth approximately $37,000. Bessemer Group Inc. lifted its stake in W.P. Carey by 118.6% in the 4th quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust's stock valued at $40,000 after buying an additional 402 shares in the last quarter. Fourth Dimension Wealth LLC acquired a new stake in W.P. Carey during the 4th quarter valued at $44,000. Finally, Plato Investment Management Ltd purchased a new position in W.P. Carey during the fourth quarter worth $48,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WPC has been the topic of several recent research reports. Royal Bank Of Canada upped their price objective on W.P. Carey from $410.00 to $420.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Barclays set a $61.00 target price on shares of W.P. Carey and gave the company an "underweight" rating in a report on Wednesday, May 21st. BNP Paribas Exane raised shares of W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price target on the stock in a research note on Monday, June 9th. BNP Paribas set a $66.00 price objective on shares of W.P. Carey and gave the company a "neutral" rating in a research report on Monday, June 9th. Finally, Scotiabank raised their target price on shares of W.P. Carey from $59.00 to $63.00 and gave the stock a "sector perform" rating in a research report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, W.P. Carey presently has an average rating of "Hold" and a consensus target price of $100.40.

W.P. Carey Trading Down 0.5%

Shares of WPC traded down $0.34 during mid-day trading on Friday, reaching $63.38. The company had a trading volume of 3,623,856 shares, compared to its average volume of 1,177,250. The stock has a market cap of $13.88 billion, a price-to-earnings ratio of 32.67, a price-to-earnings-growth ratio of 7.09 and a beta of 0.80. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.92. The firm has a fifty day simple moving average of $61.75 and a 200-day simple moving average of $59.41. W.P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $66.10.

W.P. Carey (NYSE:WPC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.20 by ($0.03). The firm had revenue of $407.44 million for the quarter, compared to analysts' expectations of $412.99 million. W.P. Carey had a net margin of 26.66% and a return on equity of 5.02%. W.P. Carey's revenue was up 5.3% on a year-over-year basis. During the same period last year, the firm posted $1.14 EPS. On average, sell-side analysts anticipate that W.P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W.P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 5.68%. This is a boost from W.P. Carey's previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Monday, June 30th. W.P. Carey's payout ratio is 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.