Wall Street analysts expect that WP Carey Inc (NYSE:WPC) will announce sales of $289.10 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for WP Carey’s earnings. The lowest sales estimate is $265.48 million and the highest is $312.71 million. WP Carey reported sales of $201.81 million during the same quarter last year, which indicates a positive year over year growth rate of 43.3%. The company is expected to announce its next earnings report before the market opens on Friday, May 3rd.
According to Zacks, analysts expect that WP Carey will report full year sales of $1.17 billion for the current financial year, with estimates ranging from $1.06 billion to $1.27 billion. For the next financial year, analysts expect that the business will post sales of $1.20 billion, with estimates ranging from $1.05 billion to $1.32 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for WP Carey.
WP Carey (NYSE:WPC) last announced its quarterly earnings results on Friday, February 22nd. The real estate investment trust reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates 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%. The business’s quarterly revenue was up 39.0% compared to the same quarter last year. During the same period last year, the firm posted $1.18 earnings per share.
WPC has been the topic of a number of recent analyst reports. ValuEngine raised shares of WP Carey from a “hold” rating to a “buy” rating in a research report on Tuesday, January 29th. Capital One Financial reissued an “equal weight” rating on shares of WP Carey in a research report on Tuesday, March 5th. Zacks Investment Research raised shares of WP Carey from a “sell” rating to a “hold” rating in a research report on Saturday, January 26th. Finally, Mitsubishi UFJ Financial Group initiated coverage on shares of WP Carey in a research report on Tuesday, March 26th. They issued a “neutral” rating and a $78.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. WP Carey currently has an average rating of “Hold” and an average target price of $72.25.
A number of institutional investors and hedge funds have recently bought and sold shares of WPC. JPMorgan Chase & Co. increased its stake in WP Carey by 22.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 594,962 shares of the real estate investment trust’s stock valued at $38,262,000 after buying an additional 110,363 shares during the last quarter. Jane Street Group LLC acquired a new stake in WP Carey in the 3rd quarter valued at $203,000. Advisors Asset Management Inc. increased its stake in WP Carey by 18.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 14,590 shares of the real estate investment trust’s stock valued at $938,000 after buying an additional 2,276 shares during the last quarter. Macquarie Group Ltd. increased its stake in WP Carey by 20.3% in the 3rd quarter. Macquarie Group Ltd. now owns 39,700 shares of the real estate investment trust’s stock valued at $2,553,000 after buying an additional 6,700 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in WP Carey by 3.8% in the 3rd quarter. AQR Capital Management LLC now owns 37,568 shares of the real estate investment trust’s stock valued at $2,416,000 after buying an additional 1,375 shares during the last quarter. 49.76% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE WPC traded up $0.23 during midday trading on Friday, reaching $79.41. 31,917 shares of the stock were exchanged, compared to its average volume of 606,385. The stock has a market cap of $13.47 billion, a price-to-earnings ratio of 14.76, a P/E/G ratio of 3.99 and a beta of 0.60. WP Carey has a 12 month low of $62.12 and a 12 month high of $79.76. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.92.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a $1.032 dividend. This is a boost from WP Carey’s previous quarterly dividend of $1.03. This represents a $4.13 annualized dividend and a yield of 5.20%. The ex-dividend date was Thursday, March 28th. WP Carey’s payout ratio is currently 76.62%.
WP Carey Company Profile
W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $17 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,163 net lease properties covering approximately 131 million square feet. For over four decades, the company has invested in high-quality single-tenant industrial, warehouse, office and retail properties subject to long-term leases with built-in rent escalators.
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