W. P. Carey (NYSE:WPC) Issues Earnings Results

W. P. Carey (NYSE:WPC – Get Rating) issued 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 return on equity of 5.62% and a net margin of 30.79%. The business had revenue of $344.10 million for the quarter, compared to analysts’ expectations of $340.96 million. During the same period in the prior year, the firm earned $1.22 EPS. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. W. P. Carey updated its FY22 guidance to $5.18-5.30 EPS.

WPC opened at $80.77 on Monday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.17 and a current ratio of 0.17. The stock has a market capitalization of $15.47 billion, a P/E ratio of 29.26, a price-to-earnings-growth ratio of 8.38 and a beta of 0.75. W. P. Carey has a one year low of $71.72 and a one year high of $86.48. The business’s 50-day simple moving average is $81.00 and its 200-day simple moving average is $79.19.

The business also recently declared a quarterly dividend, which was paid on Thursday, April 14th. Shareholders of record on Thursday, March 31st were given a $1.057 dividend. The ex-dividend date of this dividend was Wednesday, March 30th. This represents a $4.23 dividend on an annualized basis and a yield of 5.23%. This is a positive change from W. P. Carey’s previous quarterly dividend of $1.06. W. P. Carey’s dividend payout ratio (DPR) is currently 153.26%.

Large investors have recently bought and sold shares of the company. D. E. Shaw & Co. Inc. acquired a new stake in shares of W. P. Carey in the fourth quarter valued at approximately $365,000. Penserra Capital Management LLC raised its position in shares of W. P. Carey by 119.6% in the 4th quarter. Penserra Capital Management LLC now owns 4,482 shares of the real estate investment trust’s stock worth $367,000 after buying an additional 2,441 shares during the period. Paradigm Financial Partners LLC grew its position in W. P. Carey by 30.1% during the fourth quarter. Paradigm Financial Partners LLC now owns 5,854 shares of the real estate investment trust’s stock valued at $480,000 after acquiring an additional 1,356 shares during the period. Sequoia Financial Advisors LLC acquired a new position in shares of W. P. Carey in the 4th quarter valued at about $492,000. Finally, Glenmede Trust Co. NA increased its position in shares of 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 acquiring an additional 500 shares in the last quarter. 58.86% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of W. P. Carey from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research report on Wednesday, March 16th. Bank of America upgraded shares of W. P. Carey from an “underperform” rating to a “neutral” rating in a report on Thursday, January 20th. Raymond James began coverage on W. P. Carey in a report on Thursday, April 14th. They set an “outperform” rating and a $90.00 price target on the stock. Finally, StockNews.com cut shares of W. P. Carey from a “buy” rating to a “hold” rating in a research report on Monday, April 18th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, W. P. Carey presently has a consensus rating of “Buy” and an average price target 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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