W.P. Carey Inc. (WPC) Expected to Post Quarterly Sales of $203.19 Million
Equities research analysts predict that W.P. Carey Inc. (NYSE:WPC) will announce sales of $203.19 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for W.P. Carey’s earnings, with estimates ranging from $195.08 million to $211.29 million. W.P. Carey reported sales of $180.07 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 12.8%. The company is scheduled to report its next earnings report before the market opens on Friday, November 3rd.
According to Zacks, analysts expect that W.P. Carey will report full-year sales of $203.19 million for the current fiscal year, with estimates ranging from $772.64 million to $863.30 million. For the next financial year, analysts expect that the company will post sales of $834.40 million per share, with estimates ranging from $793.08 million to $874.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover W.P. Carey.
W.P. Carey (NYSE:WPC) last released its quarterly earnings results on Friday, August 4th. The real estate investment trust reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $221.52 million for the quarter, compared to the consensus estimate of $221.19 million. During the same period in the previous year, the business earned $1.24 earnings per share. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis.
A number of brokerages recently issued reports on WPC. Ladenburg Thalmann Financial Services reiterated a “hold” rating on shares of W.P. Carey in a research note on Friday, September 1st. Robert W. Baird began coverage on shares of W.P. Carey in a research note on Wednesday, October 18th. They issued an “outperform” rating and a $77.00 price target on the stock. BidaskClub cut shares of W.P. Carey from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 10th. Finally, ValuEngine upgraded shares of W.P. Carey from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $70.00.
A number of institutional investors and hedge funds have recently bought and sold shares of WPC. Russell Investments Group Ltd. lifted its stake in W.P. Carey by 7.5% during the 1st quarter. Russell Investments Group Ltd. now owns 9,697 shares of the real estate investment trust’s stock valued at $603,000 after acquiring an additional 678 shares during the period. Comerica Bank lifted its stake in W.P. Carey by 9.9% during the 1st quarter. Comerica Bank now owns 9,550 shares of the real estate investment trust’s stock valued at $606,000 after acquiring an additional 862 shares during the period. Teachers Advisors LLC lifted its stake in W.P. Carey by 0.3% during the 1st quarter. Teachers Advisors LLC now owns 157,827 shares of the real estate investment trust’s stock valued at $9,820,000 after acquiring an additional 507 shares during the period. Thrivent Financial For Lutherans lifted its stake in W.P. Carey by 1.3% during the 1st quarter. Thrivent Financial For Lutherans now owns 16,200 shares of the real estate investment trust’s stock valued at $1,008,000 after acquiring an additional 200 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in W.P. Carey by 1.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,343,732 shares of the real estate investment trust’s stock valued at $83,606,000 after acquiring an additional 21,224 shares during the period. Institutional investors and hedge funds own 48.72% of the company’s stock.
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W.P. Carey (NYSE:WPC) opened at 69.40 on Tuesday. The company has a market capitalization of $7.42 billion, a price-to-earnings ratio of 26.72 and a beta of 0.86. The company’s 50 day moving average is $68.95 and its 200-day moving average is $66.66. W.P. Carey has a 52-week low of $55.77 and a 52-week high of $70.38.
The business also recently announced a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Monday, October 2nd were paid a dividend of $1.005 per share. The ex-dividend date of this dividend was Friday, September 29th. This represents a $4.02 annualized dividend and a yield of 5.79%. This is a boost from W.P. Carey’s previous quarterly dividend of $1.00. W.P. Carey’s dividend payout ratio is currently 155.21%.
W.P. Carey Company Profile
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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