WP Carey (NYSE:WPC) posted its quarterly earnings data on Friday. The real estate investment trust reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.01, Briefing.com reports. The company had revenue of $290.50 million during the quarter, compared to analysts’ expectations of $291.88 million. WP Carey had a return on equity of 4.38% and a net margin of 24.64%. WP Carey’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.07 earnings per share.
Shares of NYSE WPC traded up $0.84 during mid-day trading on Friday, reaching $71.37. The company’s stock had a trading volume of 890,581 shares, compared to its average volume of 737,008. The firm has a market capitalization of $12.31 billion, a PE ratio of 40.78 and a beta of 0.76. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a fifty day moving average of $68.18 and a two-hundred day moving average of $69.91. WP Carey has a 52 week low of $38.62 and a 52 week high of $93.62.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $1.042 per share. This represents a $4.17 annualized dividend and a yield of 5.84%. The ex-dividend date of this dividend was Monday, June 29th. This is a positive change from WP Carey’s previous quarterly dividend of $1.04. WP Carey’s payout ratio is currently 83.40%.
Several analysts have issued reports on WPC shares. Wells Fargo & Co boosted their price target on WP Carey from $64.00 to $77.00 and gave the company an “overweight” rating in a report on Wednesday, June 10th. Citigroup cut their price target on WP Carey from $83.00 to $52.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. BMO Capital Markets reissued a “buy” rating on shares of WP Carey in a report on Friday. Finally, Zacks Investment Research lowered WP Carey from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. WP Carey has an average rating of “Hold” and an average target price of $74.25.
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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