W.P. Carey Inc. REIT (WPC) Releases Earnings Results, Beats Expectations By $0.21 EPS
W.P. Carey Inc. REIT (NYSE:WPC) announced its quarterly earnings data on Friday. The real estate investment trust reported $1.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.21, Briefing.com reports. W.P. Carey Inc. REIT had a net margin of 34.97% and a return on equity of 8.10%. The business had revenue of $210.00 million for the quarter, compared to analyst estimates of $212.72 million. During the same period last year, the business earned $1.34 EPS. The company’s revenue was down 6.7% on a year-over-year basis.
Shares of W.P. Carey Inc. REIT (WPC) opened at $70.34 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.38 and a current ratio of 0.38. The company has a market cap of $7.33 billion, a price-to-earnings ratio of 13.21, a P/E/G ratio of 3.79 and a beta of 0.95. W.P. Carey Inc. REIT has a one year low of $55.77 and a one year high of $70.43.
The business also recently declared a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Monday, October 2nd were paid a dividend of $1.005 per share. This is a positive change from W.P. Carey Inc. REIT’s previous quarterly dividend of $1.00. This represents a $4.02 annualized dividend and a yield of 5.72%. The ex-dividend date of this dividend was Friday, September 29th. W.P. Carey Inc. REIT’s dividend payout ratio (DPR) is currently 154.02%.
A number of brokerages have recently weighed in on WPC. Zacks Investment Research lowered shares of W.P. Carey Inc. REIT from a “hold” rating to a “sell” rating in a report on Friday, October 27th. Ladenburg Thalmann Financial Services restated a “hold” rating on shares of W.P. Carey Inc. REIT in a report on Friday, September 1st. Robert W. Baird began coverage on shares of W.P. Carey Inc. REIT in a report on Wednesday, October 18th. They issued an “outperform” rating and a $77.00 price objective on the stock. BidaskClub lowered shares of W.P. Carey Inc. REIT from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 10th. Finally, ValuEngine upgraded shares of W.P. Carey Inc. REIT from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. W.P. Carey Inc. REIT presently has an average rating of “Hold” and a consensus price target of $70.00.
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About W.P. Carey Inc. REIT
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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