W. P. Carey (WPC) Set to Announce Quarterly Earnings on Tuesday

W. P. Carey (NYSE:WPC) is scheduled to be announcing its earnings results after the market closes on Tuesday, April 30th. Analysts expect the company to announce earnings of $1.14 per share for the quarter. W. P. Carey has set its FY24 guidance at $4.65-4.75 EPS and its FY 2024 guidance at 4.650-4.750 EPS.Investors interested in participating in the company’s conference call can do so using this link.

W. P. Carey (NYSE:WPC) last posted its earnings results on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.14. W. P. Carey had a return on equity of 7.78% and a net margin of 40.68%. The company had revenue of $410.38 million for the quarter, compared to analyst estimates of $413.04 million. During the same quarter in the prior year, the company earned $1.29 earnings per share. W. P. Carey’s revenue was up 2.0% 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 Stock Up 0.0 %

Shares of NYSE:WPC opened at $56.22 on Tuesday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.89. W. P. Carey has a 52-week low of $51.36 and a 52-week high of $74.66. The stock’s fifty day simple moving average is $56.05 and its 200-day simple moving average is $58.80. The company has a market capitalization of $12.30 billion, a P/E ratio of 17.04, a P/E/G ratio of 0.45 and a beta of 0.86.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a $0.865 dividend. This is an increase from W. P. Carey’s previous quarterly dividend of $0.86. This represents a $3.46 annualized dividend and a dividend yield of 6.15%. The ex-dividend date of this dividend was Wednesday, March 27th. W. P. Carey’s dividend payout ratio is currently 104.85%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Scotiabank reduced their price objective on W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Monday, March 4th. Raymond James downgraded W. P. Carey from an “outperform” rating to a “market perform” rating in a research report on Monday, February 12th. Royal Bank of Canada reduced their price objective on W. P. Carey from $68.00 to $65.00 and set an “outperform” rating on the stock in a research report on Monday, February 12th. StockNews.com started coverage on W. P. Carey in a research report on Thursday, January 4th. They set a “hold” rating on the stock. Finally, Barclays started coverage on W. P. Carey in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $63.36.

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.