W. P. Carey (NYSE:WPC – Get Free Report) posted its quarterly earnings results on Tuesday. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.62), Zacks reports. W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. The business had revenue of $394.78 million during the quarter, compared to analyst estimates of $377.43 million. During the same period in the previous year, the business posted $1.32 EPS. The business’s revenue for the quarter was down 11.9% compared to the same quarter last year. W. P. Carey updated its FY24 guidance to $4.65-4.71 EPS and its FY 2024 guidance to 4.650-4.710 EPS.
W. P. Carey Stock Performance
W. P. Carey stock traded down $0.54 during midday trading on Wednesday, reaching $56.16. The stock had a trading volume of 2,128,995 shares, compared to its average volume of 1,212,602. W. P. Carey has a 12 month low of $52.67 and a 12 month high of $67.40. The firm’s 50-day moving average price is $60.65 and its 200 day moving average price is $58.19. The firm has a market capitalization of $12.29 billion, a PE ratio of 21.37, a P/E/G ratio of 1.11 and a beta of 0.94. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.94.
W. P. Carey Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.875 dividend. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 dividend on an annualized basis and a yield of 6.23%. The ex-dividend date was Monday, September 30th. W. P. Carey’s payout ratio is currently 133.08%.
Insider Activity at W. P. Carey
Wall Street Analyst Weigh In
Several equities analysts have weighed in on WPC shares. Scotiabank dropped their price objective on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. UBS Group raised their price objective on W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Barclays raised their price objective on W. P. Carey from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Royal Bank of Canada dropped their price objective on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. Finally, Evercore ISI lifted their target price on W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $63.25.
View Our Latest Research Report on W. P. Carey
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.
Read More
- Five stocks we like better than W. P. Carey
- Industrial Products Stocks Investing
- Boeing: Why Analysts Think Now’s The Time To Be Brave
- Why Understanding Call Option Volume is Essential to Successful Options Trading
- Advanced Micro Devices is Building Momentum with AI: Buy the Dip
- Stocks with Unusual Volume: How to Find Unusual Volume Stocks in Real Time
- Can Evolv Stock Recover From Its Massive Self-Inflicted Drop?
Receive News & Ratings for W. P. Carey Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for W. P. Carey and related companies with MarketBeat.com's FREE daily email newsletter.