W.P. Carey (NYSE:WPC) Releases Quarterly Earnings Results, Misses Expectations By $0.09 EPS

W.P. Carey (NYSE:WPC) announced its quarterly earnings data on Tuesday. The real estate investment trust reported $0.61 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.09), FiscalAI reports. The company had revenue of $468.30 million during the quarter, compared to analyst estimates of $457.57 million. W.P. Carey had a net margin of 36.34% and a return on equity of 7.81%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the business earned $1.25 EPS.

W.P. Carey Price Performance

NYSE WPC traded up $0.41 during trading on Thursday, reaching $63.49. The company’s stock had a trading volume of 108,620 shares, compared to its average volume of 1,425,624. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.22 and a quick ratio of 0.22. The firm has a fifty day moving average of $66.86 and a 200 day moving average of $70.83. The stock has a market capitalization of $14.46 billion, a PE ratio of 21.66, a P/E/G ratio of 3.23 and a beta of 0.75. W.P. Carey has a one year low of $62.19 and a one year high of $77.22.

W.P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a dividend of $0.95 per share. The ex-dividend date was Wednesday, September 30th. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.94. This represents a $3.80 annualized dividend and a yield of 6.0%. W.P. Carey’s dividend payout ratio (DPR) is presently 129.69%.

Wall Street Analyst Weigh In

WPC has been the subject of a number of recent analyst reports. BNP Paribas Exane raised shares of W.P. Carey from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $73.00 to $88.00 in a research report on Wednesday, July 29th. Benchmark began coverage on W.P. Carey in a research report on Tuesday, September 22nd. They set a “buy” rating for the company. BMO Capital Markets reiterated an “outperform” rating on shares of W.P. Carey in a research note on Wednesday. Weiss Ratings cut shares of W.P. Carey from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, October 21st. Finally, Citigroup reissued a “market perform” rating on shares of W.P. Carey in a research note on Friday, September 25th. Nine research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, W.P. Carey has an average rating of “Moderate Buy” and a consensus price target of $77.36.

W.P. Carey Company Profile

W.P. Carey Inc (NYSE: WPC) is a real estate investment trust specializing in the ownership and management of commercial properties under long-term, net lease agreements. In a net lease arrangement, tenants generally assume responsibility for property taxes, insurance and maintenance, allowing W.P. Carey to generate rental income with relatively predictable operating expenses.

The company’s portfolio is diversified across industrial, warehouse, retail, self-storage and other commercial properties.