W.P. Carey (NYSE:WPC) Announces Quarterly Earnings Results, Misses Estimates By $0.58 EPS

by · The Markets Daily

W.P. Carey (NYSE:WPC – Get Free Report) posted its quarterly earnings data on Tuesday. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.58), FiscalAI reports. The firm had revenue of $444.55 million for the quarter, compared to analyst estimates of $433.28 million. W.P. Carey had a return on equity of 4.40% and a net margin of 21.75%.

W.P. Carey Stock Up 1.6%

WPC traded up $1.13 during trading on Tuesday, reaching $72.65. The company had a trading volume of 1,270,527 shares, compared to its average volume of 1,279,508. The company has a market cap of $15.92 billion, a P/E ratio of 44.03, a PEG ratio of 6.08 and a beta of 0.78. W.P. Carey has a 12 month low of $54.24 and a 12 month high of $72.68. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.25 and a quick ratio of 0.25. The business’s fifty day moving average price is $66.95 and its 200 day moving average price is $66.89.

W.P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a $0.92 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This is an increase from W.P. Carey’s previous quarterly dividend of $0.91. This represents a $3.68 dividend on an annualized basis and a yield of 5.1%. W.P. Carey’s payout ratio is presently 223.03%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Turning Point Benefit Group Inc. acquired a new position in W.P. Carey during the third quarter valued at approximately $162,000. Johnson Financial Group Inc. raised its stake in shares of W.P. Carey by 154.3% during the 3rd quarter. Johnson Financial Group Inc. now owns 1,948 shares of the real estate investment trust’s stock worth $133,000 after purchasing an additional 1,182 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of W.P. Carey by 6.6% in the 3rd quarter. Parallel Advisors LLC now owns 3,950 shares of the real estate investment trust’s stock valued at $267,000 after buying an additional 245 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new position in shares of W.P. Carey in the second quarter valued at $209,000. Finally, FJ Capital Management LLC bought a new position in shares of W.P. Carey in the second quarter valued at $217,000. 73.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on WPC shares. Barclays set a $65.00 price objective on W.P. Carey in a report on Tuesday, January 13th. Scotiabank upped their price objective on W.P. Carey from $67.00 to $72.00 and gave the company a “sector perform” rating in a report on Monday, February 2nd. Citigroup raised their target price on W.P. Carey from $60.00 to $69.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of W.P. Carey in a research note on Wednesday, January 21st. Finally, Royal Bank Of Canada lifted their price objective on shares of W.P. Carey from $69.00 to $70.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 7th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, W.P. Carey currently has an average rating of “Hold” and a consensus price target of $69.20.

Check Out Our Latest Report on WPC

About W.P. Carey

(Get Free Report)

W. P. Carey Inc is a diversified net-lease real estate investment trust specializing in single-tenant commercial properties. The company structures sale-leaseback and build-to-suit transactions to provide long-term net lease financing across a variety of asset classes, including industrial facilities, office buildings, retail centers and self-storage facilities. By employing triple net leases, W. P. Carey transfers property operating expenses, taxes and maintenance responsibility to tenants, creating a stable, predictable income stream for investors.

Founded in 1973 by William Polk Carey, the firm has expanded organically and through strategic mergers and acquisitions.

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