WP Carey Inc (WPC) Announces Quarterly Dividend of $1.03

WP Carey Inc (NYSE:WPC) announced a quarterly dividend on Thursday, March 14th, RTT News reports. Shareholders of record on Friday, March 29th will be paid a dividend of 1.032 per share by the real estate investment trust on Monday, April 15th. This represents a $4.13 dividend on an annualized basis and a yield of 5.36%. This is a boost from WP Carey’s previous quarterly dividend of $1.03.

WP Carey has raised its dividend payment by an average of 2.2% annually over the last three years and has raised its dividend annually for the last 18 consecutive years. WP Carey has a dividend payout ratio of 78.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect WP Carey to earn $5.03 per share next year, which means the company should continue to be able to cover its $4.12 annual dividend with an expected future payout ratio of 81.9%.

WP Carey stock traded up $0.27 during mid-day trading on Thursday, reaching $77.00. The company had a trading volume of 2,170,647 shares, compared to its average volume of 1,018,645. WP Carey has a fifty-two week low of $60.50 and a fifty-two week high of $77.43. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.44 and a quick ratio of 0.44. The firm has a market capitalization of $12.75 billion, a P/E ratio of 14.29 and a beta of 0.60.

WP Carey (NYSE:WPC) last released its quarterly earnings results on Friday, February 22nd. The real estate investment trust reported $1.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.03. The firm had revenue of $273.40 million during the quarter, compared to the consensus estimate of $283.87 million. WP Carey had a net margin of 49.68% and a return on equity of 9.81%. The company’s revenue for the quarter was up 39.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.18 earnings per share. On average, analysts expect that WP Carey will post 5 earnings per share for the current year.

Several equities analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of WP Carey from a “hold” rating to a “sell” rating in a research note on Saturday, January 19th. ValuEngine raised shares of WP Carey from a “hold” rating to a “buy” rating in a research note on Friday, December 21st. Capital One Financial reaffirmed an “equal weight” rating on shares of WP Carey in a research note on Tuesday, March 5th. Finally, JPMorgan Chase & Co. assumed coverage on shares of WP Carey in a research note on Wednesday, December 19th. They set a “neutral” rating and a $73.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $70.81.

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WP Carey Company Profile

Celebrating its 45th anniversary, W. P. Carey ranks among the largest diversified net lease REITs with an enterprise value of approximately $17 billion and a portfolio of operationally-critical commercial real estate that includes 1,186 net lease properties covering approximately 133 million square feet.

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Dividend History for WP Carey (NYSE:WPC)

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