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%.
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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