W. P. Carey (NYSE:WPC) Updates FY22 Earnings Guidance

W. P. Carey (NYSE:WPCGet Rating) issued an update on its FY22 earnings guidance on Friday morning. The company provided earnings per share guidance of $5.18-5.30 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.97.

WPC stock opened at $85.84 on Friday. The company has a market capitalization of $16.44 billion, a P/E ratio of 38.49 and a beta of 0.75. The company has a 50-day simple moving average of $80.91 and a 200 day simple moving average of $79.13. W. P. Carey has a fifty-two week low of $71.72 and a fifty-two week high of $86.48. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.84.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 14th. Investors of record on Thursday, March 31st were issued a $1.057 dividend. The ex-dividend date was Wednesday, March 30th. This represents a $4.23 annualized dividend and a yield of 4.93%. This is an increase from W. P. Carey’s previous quarterly dividend of $1.06. W. P. Carey’s dividend payout ratio is presently 189.69%.

A number of equities research analysts have weighed in on WPC shares. StockNews.com downgraded shares of W. P. Carey from a buy rating to a hold rating in a report on Monday, April 18th. Zacks Investment Research raised shares of W. P. Carey from a hold rating to a buy rating and set a $89.00 price objective for the company in a research note on Wednesday, March 16th. Raymond James started coverage on shares of W. P. Carey in a research note on Thursday, April 14th. They set an outperform rating and a $90.00 price objective for the company. Finally, Bank of America raised shares of W. P. Carey from an underperform rating to a neutral rating in a research note on Thursday, January 20th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Buy and an average price target of $87.71.

A number of institutional investors have recently made changes to their positions in the business. D. E. Shaw & Co. Inc. bought a new stake in shares of W. P. Carey in the fourth quarter valued at approximately $365,000. Penserra Capital Management LLC lifted its position in W. P. Carey by 119.6% in the fourth quarter. Penserra Capital Management LLC now owns 4,482 shares of the real estate investment trust’s stock worth $367,000 after purchasing an additional 2,441 shares during the period. Paradigm Financial Partners LLC lifted its position in W. P. Carey by 30.1% in the fourth quarter. Paradigm Financial Partners LLC now owns 5,854 shares of the real estate investment trust’s stock worth $480,000 after purchasing an additional 1,356 shares during the period. Sequoia Financial Advisors LLC bought a new position in W. P. Carey in the fourth quarter worth $492,000. Finally, Glenmede Trust Co. NA lifted its position in W. P. Carey by 7.2% in the fourth quarter. Glenmede Trust Co. NA now owns 7,412 shares of the real estate investment trust’s stock worth $608,000 after purchasing an additional 500 shares during the period. 59.45% of the stock is owned by hedge funds and other institutional investors.

W. P. Carey Company Profile (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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Earnings History and Estimates for W. P. Carey (NYSE:WPC)

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