WP Carey (NYSE:WPC) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

WP Carey (NYSE:WPC) released its earnings results on Friday. The real estate investment trust reported $1.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.01, Briefing.com reports. WP Carey had a net margin of 24.64% and a return on equity of 4.38%. The business had revenue of $290.50 million during the quarter, compared to analysts’ expectations of $291.88 million. During the same quarter last year, the company earned $1.07 earnings per share. The firm’s revenue was down 4.8% on a year-over-year basis.

Shares of NYSE:WPC traded up $0.84 during trading on Friday, reaching $71.37. The stock had a trading volume of 890,581 shares, compared to its average volume of 737,008. WP Carey has a 52 week low of $38.62 and a 52 week high of $93.62. The business’s 50-day moving average price is $68.18 and its 200 day moving average price is $69.91. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a market capitalization of $12.31 billion, a PE ratio of 14.36 and a beta of 0.76.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $1.042 dividend. The ex-dividend date was Monday, June 29th. This represents a $4.17 dividend on an annualized basis and a dividend yield of 5.84%. This is a boost from WP Carey’s previous quarterly dividend of $1.04. WP Carey’s payout ratio is 83.40%.

Several equities research analysts recently weighed in on the stock. BMO Capital Markets reiterated a “buy” rating on shares of WP Carey in a research note on Friday. Zacks Investment Research cut shares of WP Carey from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Wells Fargo & Co raised their price target on shares of WP Carey from $64.00 to $77.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 10th. Finally, Citigroup cut their price target on shares of WP Carey from $83.00 to $52.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $74.25.

In other news, Director Mark A. Alexander bought 4,000 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was bought at an average price of $61.84 per share, for a total transaction of $247,360.00. Following the completion of the purchase, the director now owns 18,878 shares of the company’s stock, valued at approximately $1,167,415.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.09% of the company’s stock.

About WP Carey

W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $17 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,163 net lease properties covering approximately 131 million square feet. For over four decades, the company has invested in high-quality single-tenant industrial, warehouse, office and retail properties subject to long-term leases with built-in rent escalators.

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Earnings History for WP Carey (NYSE:WPC)

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