WP Carey (WPC) Releases Quarterly Earnings Results, Beats Expectations By $0.08 EPS

WP Carey (NYSE:WPC) posted its quarterly earnings results on Friday. The real estate investment trust reported $1.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.08, RTT News reports. WP Carey had a return on equity of 8.51% and a net margin of 38.18%. The company had revenue of $209.40 million for the quarter, compared to analysts’ expectations of $215.47 million. During the same period last year, the firm earned $0.74 earnings per share. WP Carey’s quarterly revenue was down .6% on a year-over-year basis. WP Carey updated its FY 2018 guidance to $5.34-5.44 EPS and its FY18 guidance to $5.34-5.44 EPS.

Shares of WPC stock opened at $65.60 on Friday. The stock has a market cap of $7.08 billion, a price-to-earnings ratio of 12.50 and a beta of 0.55. WP Carey has a 1 year low of $59.23 and a 1 year high of $72.41. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.19 and a current ratio of 0.19.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Monday, October 1st were issued a dividend of $1.025 per share. This is a positive change from WP Carey’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend was Friday, September 28th. This represents a $4.10 annualized dividend and a dividend yield of 6.25%. WP Carey’s dividend payout ratio (DPR) is presently 77.36%.

Hedge funds have recently modified their holdings of the business. Resource America Inc. grew its holdings in shares of WP Carey by 95.7% during the second quarter. Resource America Inc. now owns 49,314 shares of the real estate investment trust’s stock worth $3,272,000 after purchasing an additional 24,117 shares during the last quarter. HRT Financial LLC purchased a new position in shares of WP Carey during the second quarter worth about $372,000. First Trust Advisors LP grew its holdings in shares of WP Carey by 140.3% during the second quarter. First Trust Advisors LP now owns 50,434 shares of the real estate investment trust’s stock worth $3,346,000 after purchasing an additional 29,448 shares during the last quarter. Zacks Investment Management grew its holdings in shares of WP Carey by 7.9% during the second quarter. Zacks Investment Management now owns 55,047 shares of the real estate investment trust’s stock worth $3,652,000 after purchasing an additional 4,036 shares during the last quarter. Finally, Raymond James & Associates grew its holdings in shares of WP Carey by 1.3% during the second quarter. Raymond James & Associates now owns 106,476 shares of the real estate investment trust’s stock worth $7,065,000 after purchasing an additional 1,365 shares during the last quarter. 48.81% of the stock is currently owned by institutional investors.

A number of analysts have weighed in on WPC shares. ValuEngine upgraded WP Carey from a “sell” rating to a “hold” rating in a research note on Thursday, October 11th. Zacks Investment Research upgraded WP Carey from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research note on Saturday, July 7th. Finally, Bank of America raised their price target on WP Carey from $59.00 to $66.25 and gave the company an “underperform” rating in a research note on Monday, August 13th. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $70.08.

WP Carey Company Profile

Celebrating its 45th anniversary, W. P. Carey ranks among the largest diversified net lease REITs with an enterprise value of over $11 billion and a portfolio of operationally-critical commercial real estate totaling 878 properties covering approximately 87 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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Earnings History for WP Carey (NYSE:WPC)

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