W. P. Carey (WPC) to Release Earnings on Tuesday

W. P. Carey (NYSE:WPC) is set to issue its quarterly earnings data after the market closes on Tuesday, October 29th. Analysts expect the company to announce earnings of $1.13 per share for the quarter. W. P. Carey has set its FY24 guidance at $4.63-4.73 EPS and its FY 2024 guidance at 4.630-4.730 EPS.Investors interested in participating in the company’s conference call can do so using this link.

W. P. Carey (NYSE:WPC) last issued its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.47). W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. The business had revenue of $389.70 million for the quarter, compared to the consensus estimate of $381.39 million. During the same quarter in the prior year, the firm posted $1.36 earnings per share. The business’s revenue was down 13.9% compared to the same quarter last year. On average, analysts expect W. P. Carey to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

W. P. Carey Trading Down 2.2 %

Shares of W. P. Carey stock opened at $57.28 on Monday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.93 and a quick ratio of 1.93. The business has a fifty day simple moving average of $60.71 and a two-hundred day simple moving average of $58.17. W. P. Carey has a 1 year low of $51.60 and a 1 year high of $67.40. The company has a market capitalization of $12.53 billion, a price-to-earnings ratio of 21.78, a P/E/G ratio of 1.11 and a beta of 0.94.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.875 per share. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.11%. The ex-dividend date was Monday, September 30th. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio (DPR) is currently 133.08%.

Analyst Ratings Changes

Several research analysts have weighed in on WPC shares. Wells Fargo & Company reissued an “equal weight” rating and issued a $63.00 price target (up from $62.00) on shares of W. P. Carey in a report on Tuesday, October 1st. Royal Bank of Canada lowered their target price on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. Barclays boosted their price target on W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Scotiabank lowered their price objective on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Finally, UBS Group boosted their target price on shares of W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $63.25.

Insider Activity at W. P. Carey

In other news, Director Mark A. Alexander bought 3,500 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were purchased at an average cost of $55.87 per share, with a total value of $195,545.00. Following the acquisition, the director now directly owns 38,124 shares in the company, valued at $2,129,987.88. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.08% of the stock is owned by insiders.

About W. P. Carey

W. P. Carey ranks among the largest net lease REITs with a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,424 net lease properties covering approximately 173 million square feet and a portfolio of 89 self-storage operating properties as of December 31, 2023.