W. P. Carey (NYSE:WPC) Announces Quarterly Earnings Results, Beats Expectations By $0.39 EPS

W. P. Carey (NYSE:WPC – Get Rating) released its quarterly earnings data on Friday. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.39, RTT News reports. W. P. Carey had a net margin of 30.79% and a return on equity of 5.62%. The firm had revenue of $344.10 million during the quarter, compared to analysts’ expectations of $340.96 million. During the same period last year, the business earned $1.22 earnings per share. W. P. Carey’s revenue was up 12.4% compared to the same quarter last year. W. P. Carey updated its FY22 guidance to $5.18-5.30 EPS.

NYSE WPC opened at $81.99 on Monday. W. P. Carey has a 12 month low of $71.72 and a 12 month high of $86.48. The company has a 50-day moving average of $81.00 and a 200-day moving average of $79.19. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.17 and a quick ratio of 0.17. The company has a market cap of $15.70 billion, a P/E ratio of 29.26, a P/E/G ratio of 8.38 and a beta of 0.75.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 14th. Stockholders of record on Thursday, March 31st were paid a dividend of $1.057 per share. 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 5.16%. This is an increase from W. P. Carey’s previous quarterly dividend of $1.06. W. P. Carey’s dividend payout ratio is currently 153.26%.

Several equities research analysts recently issued reports on WPC shares. Raymond James started coverage on shares of W. P. Carey in a research report on Thursday, April 14th. They set an “outperform” rating and a $90.00 price objective for the company. StockNews.com cut 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 on the stock in a report on Wednesday, March 16th. Finally, Bank of America raised shares of W. P. Carey from an “underperform” rating to a “neutral” rating in a report on Thursday, January 20th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $87.71.

Large investors have recently modified their holdings of the company. Morgan Stanley boosted its stake in shares of W. P. Carey by 22.1% during the 2nd quarter. Morgan Stanley now owns 1,124,027 shares of the real estate investment trust’s stock valued at $83,875,000 after buying an additional 203,575 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in W. P. Carey in the fourth quarter worth $492,000. D. E. Shaw & Co. Inc. acquired a new position in shares of W. P. Carey during the fourth quarter valued at $365,000. Stifel Financial Corp increased its holdings in shares of W. P. Carey by 1.1% during the fourth quarter. Stifel Financial Corp now owns 88,118 shares of the real estate investment trust’s stock valued at $7,231,000 after purchasing an additional 985 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of W. P. Carey by 0.6% during the fourth quarter. Sei Investments Co. now owns 51,560 shares of the real estate investment trust’s stock valued at $4,217,000 after purchasing an additional 289 shares during the period. Institutional investors and hedge funds 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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