WP Carey (NYSE:WPC) Posts Earnings Results, Misses Estimates By $0.85 EPS

WP Carey (NYSE:WPC) posted its quarterly earnings data on Friday. The real estate investment trust reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.85), MarketWatch Earnings reports. The business had revenue of $305.21 million during the quarter, compared to the consensus estimate of $303.23 million. WP Carey had a return on equity of 8.12% and a net margin of 44.84%. During the same quarter in the previous year, the firm posted $0.60 earnings per share. WP Carey updated its FY 2019 guidance to $4.95-5.05 EPS.

Shares of WPC traded down $3.64 on Friday, hitting $83.26. The company’s stock had a trading volume of 1,623,497 shares, compared to its average volume of 680,101. The firm has a market capitalization of $14.75 billion, a P/E ratio of 15.45, a PEG ratio of 6.05 and a beta of 0.48. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.86. WP Carey has a fifty-two week low of $62.12 and a fifty-two week high of $87.35. The business has a 50 day moving average price of $84.23.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a $1.034 dividend. This is an increase from WP Carey’s previous quarterly dividend of $1.03. This represents a $4.14 annualized dividend and a dividend yield of 4.97%. The ex-dividend date was Thursday, June 27th. WP Carey’s payout ratio is presently 76.81%.

Institutional investors and hedge funds have recently made changes to their positions in the company. Manchester Financial Inc. acquired a new position in shares of WP Carey in the 2nd quarter worth approximately $32,000. Mcmillion Capital Management Inc. acquired a new position in shares of WP Carey in the 2nd quarter worth approximately $53,000. Meridian Wealth Management LLC acquired a new position in shares of WP Carey in the 2nd quarter worth approximately $57,000. Baystate Wealth Management LLC boosted its holdings in shares of WP Carey by 22.5% in the 1st quarter. Baystate Wealth Management LLC now owns 785 shares of the real estate investment trust’s stock worth $61,000 after acquiring an additional 144 shares in the last quarter. Finally, Global Retirement Partners LLC acquired a new position in shares of WP Carey in the 1st quarter worth approximately $63,000. 53.81% of the stock is currently owned by institutional investors and hedge funds.

WPC has been the topic of a number of recent analyst reports. ValuEngine lowered WP Carey from a “buy” rating to a “hold” rating in a research note on Friday. Mitsubishi UFJ Financial Group dropped their price objective on WP Carey to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. Citigroup upgraded WP Carey from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $59.00 to $81.00 in a research note on Friday, June 7th. Finally, Zacks Investment Research upgraded WP Carey from a “sell” rating to a “hold” rating in a research note on Friday, May 31st. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $74.45.

About WP Carey

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.

Featured Article: Technical Analysis of Stocks, How Can It Help

Earnings History for WP Carey (NYSE:WPC)

Receive News & Ratings for WP Carey Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WP Carey and related companies with MarketBeat.com's FREE daily email newsletter.