W. P. Carey (WPC) to Release Quarterly Earnings on Friday

W. P. Carey (NYSE:WPC – Get Rating) is set to issue its quarterly earnings data before the market opens on Friday, April 29th. Analysts expect the company to announce earnings of $1.24 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Shares of NYSE WPC opened at $85.40 on Friday. The firm has a market cap of $16.35 billion, a PE ratio of 38.30 and a beta of 0.75. The firm has a fifty day moving average of $80.06 and a 200 day moving average of $78.79. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.17 and a current ratio of 0.17. W. P. Carey has a one year low of $71.72 and a one year high of $86.48.

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 14th. Stockholders of record on Thursday, March 31st were issued a dividend of $1.057 per share. This is a positive change from W. P. Carey’s previous quarterly dividend of $1.06. The ex-dividend date of this dividend was Wednesday, March 30th. This represents a $4.23 dividend on an annualized basis and a dividend yield of 4.95%. W. P. Carey’s dividend payout ratio is presently 189.69%.

A number of institutional investors have recently added to or reduced their stakes in WPC. Morgan Stanley lifted its holdings in W. P. Carey by 22.1% in the second quarter. Morgan Stanley now owns 1,124,027 shares of the real estate investment trust’s stock valued at $83,875,000 after acquiring an additional 203,575 shares during the period. Deutsche Bank AG increased its position in shares of W. P. Carey by 31.5% in the fourth quarter. Deutsche Bank AG now owns 279,640 shares of the real estate investment trust’s stock valued at $22,946,000 after buying an additional 66,983 shares in the last quarter. Allianz Asset Management GmbH increased its position in shares of W. P. Carey by 10.1% in the fourth 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 in the last quarter. Parametric Portfolio Associates LLC increased its position in shares of W. P. Carey by 4.0% in the fourth quarter. Parametric Portfolio Associates LLC now owns 262,915 shares of the real estate investment trust’s stock valued at $21,572,000 after buying an additional 10,042 shares in the last quarter. Finally, NewEdge Advisors LLC purchased a new position in shares of W. P. Carey in the fourth quarter valued at $770,000. 59.45% of the stock is owned by institutional investors.

A number of research analysts have commented on WPC shares. Bank of America raised shares of W. P. Carey from an “underperform” rating to a “neutral” rating in a research report on Thursday, January 20th. Zacks Investment Research raised shares of W. P. Carey from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research report on Wednesday, March 16th. StockNews.com cut shares of W. P. Carey from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Raymond James assumed coverage on shares of W. P. Carey in a research report on Thursday, April 14th. They issued an “outperform” rating and a $90.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $87.71.

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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