W.P. Carey Inc. (NYSE:WPC) posted its earnings results on Friday. The real estate investment trust reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.21, Briefing.com reports. W.P. Carey had a return on equity of 8.10% and a net margin of 34.97%. The firm had revenue of $210.00 million during the quarter, compared to analysts’ expectations of $212.72 million. During the same period in the previous year, the firm earned $1.34 earnings per share. The company’s revenue was down 6.7% on a year-over-year basis.
W.P. Carey (NYSE WPC) traded up $1.79 during mid-day trading on Friday, hitting $70.34. The stock had a trading volume of 469,853 shares, compared to its average volume of 259,919. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $7,518.78, a PE ratio of 13.48, a P/E/G ratio of 3.89 and a beta of 0.95. W.P. Carey has a 52 week low of $55.77 and a 52 week high of $70.43.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Monday, October 2nd were given a dividend of $1.005 per share. This is a boost from W.P. Carey’s previous quarterly dividend of $1.00. This represents a $4.02 annualized dividend and a dividend yield of 5.72%. The ex-dividend date of this dividend was Friday, September 29th. W.P. Carey’s dividend payout ratio is currently 174.78%.
A number of research analysts have issued reports on the company. Ladenburg Thalmann Financial Services reissued a “hold” rating on shares of W.P. Carey in a research note on Friday, September 1st. Zacks Investment Research cut W.P. Carey from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. Robert W. Baird assumed coverage on W.P. Carey in a research note on Wednesday, October 18th. They issued an “outperform” rating and a $77.00 target price for the company. BidaskClub cut W.P. Carey from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 10th. Finally, ValuEngine raised W.P. Carey from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $70.00.
W.P. Carey Company Profile
W. P. Carey provides long-term, sale-leaseback and build-to-suit transactions for companies worldwide, and manages a global investment portfolio. It has two primary business segments. Under the investment management segment, the Company earns revenue as the advisor to publicly owned, non-actively traded real estate investment trusts (REITs), which are sponsored by the Company under the Corporate Property Associates brand name (the CPA REITs) and invests in similar properties.
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