W.P. Carey (NYSE:WPC) Announces Earnings Results

W.P. Carey (NYSE:WPC) announced its quarterly earnings results on Tuesday. The real estate investment trust reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.63, Zacks reports. W.P. Carey had a return on equity of 6.29% and a net margin of 29.35%.

W.P. Carey Trading Down 0.6%

W.P. Carey stock traded down $0.44 during mid-day trading on Tuesday, reaching $75.77. 1,987,835 shares of the company traded hands, compared to its average volume of 1,406,619. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.35 and a quick ratio of 0.35. The firm’s 50 day moving average price is $73.64 and its 200 day moving average price is $72.06. The firm has a market capitalization of $16.88 billion, a price-to-earnings ratio of 32.38, a P/E/G ratio of 2.96 and a beta of 0.76. W.P. Carey has a 52-week low of $63.08 and a 52-week high of $77.22.

W.P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend was Tuesday, June 30th. This is an increase from W.P. Carey’s previous quarterly dividend of $0.93. W.P. Carey’s payout ratio is presently 160.68%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Citigroup reaffirmed a “market perform” rating on shares of W.P. Carey in a research note on Thursday, June 18th. Scotiabank cut their price target on shares of W.P. Carey from $79.00 to $76.00 and set a “sector perform” rating on the stock in a report on Thursday, June 18th. BMO Capital Markets decreased their price objective on shares of W.P. Carey from $86.00 to $84.00 and set an “outperform” rating on the stock in a research report on Thursday, June 18th. Bank of America raised shares of W.P. Carey from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $73.00 to $83.00 in a research note on Tuesday, June 16th. Finally, UBS Group set a $76.00 target price on W.P. Carey in a research note on Thursday, June 18th. Six investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, W.P. Carey has an average rating of “Hold” and a consensus target price of $78.00.

Insider Buying and Selling

In other news, CAO Brian H. Zander sold 433 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $74.00, for a total value of $32,042.00. Following the completion of the sale, the chief accounting officer directly owned 13,882 shares of the company’s stock, valued at approximately $1,027,268. This trade represents a 3.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.98% of the company’s stock.

Hedge Funds Weigh In On W.P. Carey

Hedge funds and other institutional investors have recently modified their holdings of the stock. Compound Planning Inc. boosted its position in W.P. Carey by 2.9% during the 4th quarter. Compound Planning Inc. now owns 10,527 shares of the real estate investment trust’s stock valued at $678,000 after acquiring an additional 292 shares in the last quarter. Claris Financial LLC bought a new position in shares of W.P. Carey in the 4th quarter worth approximately $308,000. Invesco Ltd. raised its position in shares of W.P. Carey by 0.3% in the 4th quarter. Invesco Ltd. now owns 3,904,767 shares of the real estate investment trust’s stock worth $251,311,000 after acquiring an additional 12,305 shares in the last quarter. Corient Private Wealth LLC lifted its stake in shares of W.P. Carey by 237.2% in the 4th quarter. Corient Private Wealth LLC now owns 157,937 shares of the real estate investment trust’s stock valued at $10,165,000 after purchasing an additional 111,095 shares during the period. Finally, Widmann Financial Services Inc. lifted its stake in shares of W.P. Carey by 7.9% in the 4th quarter. Widmann Financial Services Inc. now owns 4,985 shares of the real estate investment trust’s stock valued at $321,000 after purchasing an additional 367 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W.P. Carey Company Profile

W. P. Carey Inc is a diversified net-lease real estate investment trust specializing in single-tenant commercial properties. The company structures sale-leaseback and build-to-suit transactions to provide long-term net lease financing across a variety of asset classes, including industrial facilities, office buildings, retail centers and self-storage facilities. By employing triple net leases, W. P. Carey transfers property operating expenses, taxes and maintenance responsibility to tenants, creating a stable, predictable income stream for investors.

Founded in 1973 by William Polk Carey, the firm has expanded organically and through strategic mergers and acquisitions.