W.P. Carey Inc. (WPC) Expected to Post Earnings of $1.19 Per Share
Equities research analysts predict that W.P. Carey Inc. (NYSE:WPC) will post earnings per share of $1.19 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for W.P. Carey’s earnings, with estimates ranging from $1.15 to $1.25. W.P. Carey posted earnings of $1.03 per share in the same quarter last year, which would indicate a positive year over year growth rate of 15.5%. The firm is expected to report its next quarterly earnings report before the market opens on Thursday, November 2nd.
On average, analysts expect that W.P. Carey will report full year earnings of $4.57 per share for the current financial year, with EPS estimates ranging from $4.50 to $4.68. For the next year, analysts anticipate that the business will post earnings of $4.71 per share, with EPS estimates ranging from $4.64 to $4.78. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover W.P. Carey.
W.P. Carey (NYSE:WPC) last posted its earnings results on Friday, August 4th. The real estate investment trust reported $0.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.15 by ($0.56). W.P. Carey had a net margin of 34.97% and a return on equity of 8.10%. The company had revenue of $221.52 million during the quarter, compared to analyst estimates of $221.19 million. During the same quarter last year, the business posted $1.24 EPS. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis.
Several equities research analysts have recently issued reports on WPC shares. BidaskClub raised shares of W.P. Carey from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 19th. ValuEngine raised shares of W.P. Carey from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Robert W. Baird started coverage on shares of W.P. Carey in a research report on Wednesday. They issued an “outperform” rating and a $77.00 price objective for the company. Finally, Ladenburg Thalmann Financial Services reissued a “hold” rating on shares of W.P. Carey in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $70.00.
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Shares of W.P. Carey (WPC) traded up 0.43% during trading on Friday, reaching $69.74. 276,135 shares of the company’s stock traded hands. W.P. Carey has a 1-year low of $55.77 and a 1-year high of $70.38. The stock has a 50-day moving average of $68.95 and a 200-day moving average of $66.54. The company has a market capitalization of $7.45 billion, a price-to-earnings ratio of 26.85 and a beta of 0.86.
The company also recently declared a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Monday, October 2nd were issued a dividend of $1.005 per share. This represents a $4.02 dividend on an annualized basis and a yield of 5.76%. This is a positive change from W.P. Carey’s previous quarterly dividend of $1.00. The ex-dividend date was Friday, September 29th. W.P. Carey’s dividend payout ratio (DPR) is presently 155.21%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Intl Fcstone Inc. acquired a new stake in W.P. Carey during the 2nd quarter valued at $1,143,000. WFG Advisors LP grew its holdings in W.P. Carey by 128.6% during the 2nd quarter. WFG Advisors LP now owns 5,358 shares of the real estate investment trust’s stock valued at $354,000 after purchasing an additional 3,014 shares in the last quarter. Cetera Investment Advisers acquired a new stake in W.P. Carey during the 2nd quarter valued at $803,000. Advisory Services Network LLC grew its holdings in W.P. Carey by 0.5% during the 2nd quarter. Advisory Services Network LLC now owns 11,349 shares of the real estate investment trust’s stock valued at $749,000 after purchasing an additional 52 shares in the last quarter. Finally, Koch Industries Inc. acquired a new stake in W.P. Carey during the 2nd quarter valued at $670,000. 48.77% of the stock is owned by institutional investors and hedge funds.
About W.P. Carey
W. P. Carey provides long-term, sale-leaseback and build-to-suit transactions for companies worldwide, and manages a global investment portfolio. It has two primary business segments. Under the investment management segment, the Company earns revenue as the advisor to publicly owned, non-actively traded real estate investment trusts (REITs), which are sponsored by the Company under the Corporate Property Associates brand name (the CPA REITs) and invests in similar properties.
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