Analysts expect that WP Carey Inc (NYSE:WPC) will post $299.33 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for WP Carey’s earnings, with the highest sales estimate coming in at $308.67 million and the lowest estimate coming in at $289.98 million. WP Carey posted sales of $173.91 million during the same quarter last year, which would indicate a positive year over year growth rate of 72.1%. The business is scheduled to report its next quarterly earnings report on Friday, August 2nd.
According to Zacks, analysts expect that WP Carey will report full year sales of $1.19 billion for the current year, with estimates ranging from $1.17 billion to $1.24 billion. For the next financial year, analysts forecast that the business will report sales of $1.24 billion, with estimates ranging from $1.17 billion to $1.31 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover WP Carey.
WP Carey (NYSE:WPC) last issued its earnings results on Friday, May 3rd. The real estate investment trust reported $1.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.01. The company had revenue of $298.30 million during the quarter, compared to analysts’ expectations of $304.42 million. WP Carey had a return on equity of 8.12% and a net margin of 44.84%. The firm’s quarterly revenue was up 47.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.72 EPS.
Shares of NYSE WPC traded up $0.33 during mid-day trading on Friday, reaching $84.33. 636,325 shares of the company’s stock were exchanged, compared to its average volume of 922,422. The firm has a market capitalization of $14.36 billion, a price-to-earnings ratio of 15.65, a price-to-earnings-growth ratio of 5.88 and a beta of 0.47. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.43 and a quick ratio of 0.43. WP Carey has a 52-week low of $62.12 and a 52-week high of $86.41. The stock’s 50-day moving average is $83.72.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $1.034 per share. The ex-dividend date is Thursday, June 27th. This is a boost from WP Carey’s previous quarterly dividend of $1.03. This represents a $4.14 dividend on an annualized basis and a dividend yield of 4.90%. WP Carey’s dividend payout ratio is currently 76.81%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in WPC. Old Port Advisors raised its position in WP Carey by 4.7% in the 2nd quarter. Old Port Advisors now owns 11,239 shares of the real estate investment trust’s stock valued at $929,000 after purchasing an additional 502 shares in the last quarter. Sheets Smith Wealth Management raised its position in WP Carey by 0.3% in the 2nd quarter. Sheets Smith Wealth Management now owns 64,182 shares of the real estate investment trust’s stock valued at $5,210,000 after purchasing an additional 181 shares in the last quarter. Xact Kapitalforvaltning AB raised its position in WP Carey by 30.4% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 19,300 shares of the real estate investment trust’s stock valued at $1,567,000 after purchasing an additional 4,500 shares in the last quarter. Gulf International Bank UK Ltd raised its position in WP Carey by 4.0% in the 2nd quarter. Gulf International Bank UK Ltd now owns 39,070 shares of the real estate investment trust’s stock valued at $3,171,000 after purchasing an additional 1,500 shares in the last quarter. Finally, DNB Asset Management AS raised its position in WP Carey by 2.0% in the 2nd quarter. DNB Asset Management AS now owns 17,110 shares of the real estate investment trust’s stock valued at $1,389,000 after purchasing an additional 337 shares in the last quarter. Institutional investors and hedge funds own 53.90% of the company’s stock.
WP Carey Company Profile
W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $17 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,163 net lease properties covering approximately 131 million square feet. For over four decades, the company has invested in high-quality single-tenant industrial, warehouse, office and retail properties subject to long-term leases with built-in rent escalators.
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