Wall Street brokerages expect W. P. Carey Inc. (NYSE:WPC – Get Rating) to announce earnings per share (EPS) of $1.29 for the current quarter, Zacks reports. Two analysts have provided estimates for W. P. Carey’s earnings, with the lowest EPS estimate coming in at $1.27 and the highest estimate coming in at $1.31. W. P. Carey posted earnings of $1.27 per share during the same quarter last year, which would indicate a positive year over year growth rate of 1.6%. The firm is expected to announce its next quarterly earnings results on Monday, January 1st.
On average, analysts expect that W. P. Carey will report full year earnings of $5.21 per share for the current financial year, with EPS estimates ranging from $5.18 to $5.23. For the next year, analysts forecast that the company will post earnings of $5.36 per share. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that follow W. P. Carey.
W. P. Carey (NYSE:WPC – Get Rating) last announced its earnings results on Friday, April 29th. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.39. The business had revenue of $344.10 million during the quarter, compared to analyst estimates of $340.96 million. W. P. Carey had a return on equity of 6.88% and a net margin of 37.65%. W. P. Carey’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period last year, the company earned $1.22 EPS.
Several research analysts recently issued reports on WPC shares. Raymond James started coverage on W. P. Carey in a research report on Thursday, April 14th. They set an “outperform” rating and a $90.00 target price for the company. JMP Securities assumed coverage on W. P. Carey in a research report on Tuesday, May 10th. They set an “outperform” rating and a $87.00 target price for the company. StockNews.com upgraded W. P. Carey from a “hold” rating to a “buy” rating in a report on Wednesday, May 4th. Finally, Zacks Investment Research downgraded W. P. Carey from a “buy” rating to a “hold” rating in a report on Thursday, May 12th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $88.71.
Shares of NYSE:WPC opened at $85.15 on Friday. The firm has a market cap of $16.42 billion, a P/E ratio of 30.85, a P/E/G ratio of 7.86 and a beta of 0.70. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.82. W. P. Carey has a 12-month low of $73.02 and a 12-month high of $86.48. The business has a fifty day simple moving average of $81.68 and a 200 day simple moving average of $79.55.
The firm also recently declared a quarterly dividend, which was paid on Thursday, April 14th. Shareholders of record on Thursday, March 31st were issued a dividend of $1.057 per share. This is an increase from W. P. Carey’s previous quarterly dividend of $1.06. This represents a $4.23 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date was Wednesday, March 30th. W. P. Carey’s dividend payout ratio (DPR) is presently 153.26%.
Institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in shares of W. P. Carey by 2.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,565,395 shares of the real estate investment trust’s stock valued at $187,382,000 after buying an additional 58,324 shares during the period. CIBC Asset Management Inc grew its stake in shares of W. P. Carey by 13.4% in the 4th quarter. CIBC Asset Management Inc now owns 8,155 shares of the real estate investment trust’s stock valued at $669,000 after buying an additional 961 shares during the period. Allianz Asset Management GmbH grew its stake in shares of W. P. Carey by 10.1% in the 4th quarter. Allianz Asset Management GmbH now owns 317,937 shares of the real estate investment trust’s stock valued at $26,086,000 after buying an additional 29,157 shares during the period. Benjamin Edwards Inc. grew its stake in shares of W. P. Carey by 346.9% in the 4th quarter. Benjamin Edwards Inc. now owns 1,019 shares of the real estate investment trust’s stock valued at $84,000 after buying an additional 791 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of W. P. Carey by 8,087.2% in the 4th quarter. Renaissance Technologies LLC now owns 319,300 shares of the real estate investment trust’s stock valued at $26,199,000 after buying an additional 315,400 shares during the period. Institutional investors own 58.86% of the company’s stock.
About W. P. Carey (Get Rating)
W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $18 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,215 net lease properties covering approximately 142 million square feet as of September 30, 2020. For nearly five decades, the company has invested in high-quality single-tenant industrial, warehouse, office, retail and self-storage properties subject to long-term net leases with built-in rent escalators.
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