Wall Street analysts predict that WP Carey Inc (NYSE:WPC) will post $303.23 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for WP Carey’s earnings, with estimates ranging from $297.80 million to $308.67 million. WP Carey reported sales of $173.91 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 74.4%. The business is scheduled to report its next earnings results before the market opens on Friday, August 2nd.
On average, analysts expect that WP Carey will report full year sales of $1.22 billion for the current financial year, with estimates ranging from $1.20 billion to $1.24 billion. For the next fiscal year, analysts expect that the business will post sales of $1.27 billion, with estimates ranging from $1.19 billion to $1.31 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover WP Carey.
WP Carey (NYSE:WPC) last released its earnings results on Friday, May 3rd. The real estate investment trust reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. The firm had revenue of $298.30 million during the quarter, compared to the consensus estimate of $304.42 million. WP Carey had a return on equity of 8.12% and a net margin of 44.84%. The company’s revenue was up 47.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.72 EPS.
Several institutional investors have recently made changes to their positions in the stock. Valley National Advisers Inc. purchased a new stake in WP Carey in the fourth quarter worth $25,000. Centaurus Financial Inc. boosted its holdings in shares of WP Carey by 65.4% in the first quarter. Centaurus Financial Inc. now owns 2,051 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 811 shares during the period. Manchester Financial Inc. bought a new position in shares of WP Carey in the second quarter worth $32,000. Executive Wealth Management LLC bought a new position in shares of WP Carey in the fourth quarter worth $35,000. Finally, Mcmillion Capital Management Inc. bought a new position in shares of WP Carey in the second quarter worth $53,000. Institutional investors own 53.81% of the company’s stock.
Shares of WPC opened at $86.56 on Friday. WP Carey has a 12-month low of $62.12 and a 12-month high of $87.07. The stock has a 50-day moving average price of $84.18. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.86. The firm has a market cap of $14.52 billion, a PE ratio of 16.06, a PEG ratio of 5.96 and a beta of 0.47.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a dividend of $1.034 per share. This is a positive change from WP Carey’s previous quarterly dividend of $1.03. The ex-dividend date was Thursday, June 27th. This represents a $4.14 annualized dividend and a dividend yield of 4.78%. WP Carey’s dividend payout ratio is presently 76.81%.
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.
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