WP Carey Inc (WPC) Declares Dividend Increase – $1.03 Per Share

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WP Carey Inc (NYSE:WPC) announced a quarterly dividend on Thursday, March 14th, RTT News reports. Stockholders of record on Friday, March 29th will be paid a dividend of 1.032 per share by the real estate investment trust on Monday, April 15th. This represents a $4.13 dividend on an annualized basis and a dividend yield of 5.36%. This is an increase from WP Carey’s previous quarterly dividend of $1.03.

WP Carey has raised its dividend by an average of 2.2% per year over the last three years and has increased its dividend every year for the last 18 years. WP Carey has a payout ratio of 78.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect WP Carey to earn $5.03 per share next year, which means the company should continue to be able to cover its $4.12 annual dividend with an expected future payout ratio of 81.9%.

Shares of WPC stock traded up $0.27 on Thursday, reaching $77.00. The stock had a trading volume of 2,170,647 shares, compared to its average volume of 1,018,645. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.44 and a current ratio of 0.44. The stock has a market cap of $12.75 billion, a price-to-earnings ratio of 14.29 and a beta of 0.60. WP Carey has a 12 month low of $60.50 and a 12 month high of $77.43.

WP Carey (NYSE:WPC) last issued its earnings results on Friday, February 22nd. The real estate investment trust reported $1.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.03. The company had revenue of $273.40 million for the quarter, compared to analysts’ expectations of $283.87 million. WP Carey had a net margin of 49.68% and a return on equity of 9.81%. WP Carey’s quarterly revenue was up 39.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.18 EPS. Sell-side analysts predict that WP Carey will post 5 EPS for the current fiscal year.

Several research analysts have weighed in on WPC shares. ValuEngine raised shares of WP Carey from a “hold” rating to a “buy” rating in a report on Friday, December 21st. JPMorgan Chase & Co. began coverage on shares of WP Carey in a report on Wednesday, December 19th. They issued a “neutral” rating and a $73.00 price target on the stock. Capital One Financial restated an “equal weight” rating on shares of WP Carey in a research report on Tuesday, March 5th. Finally, Zacks Investment Research upgraded shares of WP Carey from a “sell” rating to a “hold” rating in a research report on Friday, March 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $70.81.

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WP Carey Company Profile

Celebrating its 45th anniversary, W. P. Carey ranks among the largest diversified net lease REITs with an enterprise value of approximately $17 billion and a portfolio of operationally-critical commercial real estate that includes 1,186 net lease properties covering approximately 133 million square feet.

Further Reading: P/E Growth (PEG)

Dividend History for WP Carey (NYSE:WPC)

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