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

W.P. Carey (NYSE:WPC) posted its quarterly earnings results on Tuesday. The real estate investment trust reported $1.33 EPS for the quarter, topping the consensus estimate of $0.70 by $0.63, Zacks reports. The company had revenue of $468.30 million for the quarter, compared to the consensus estimate 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 was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.25 EPS.

W.P. Carey Stock Performance

WPC stock traded down $0.85 during midday trading on Tuesday, reaching $63.54. The stock had a trading volume of 2,107,693 shares, compared to its average volume of 1,426,885. The stock has a market cap of $14.48 billion, a PE ratio of 21.69, a P/E/G ratio of 3.23 and a beta of 0.75. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.22 and a current ratio of 0.22. The firm has a fifty day simple moving average of $67.17 and a two-hundred day simple moving average of $70.87. W.P. Carey has a 52-week low of $62.24 and a 52-week high of $77.22.

W.P. Carey Increases Dividend

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

Analyst Ratings Changes

A number of analysts have recently weighed in on WPC shares. Barclays lowered their price objective on W.P. Carey from $80.00 to $76.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 20th. Citigroup reaffirmed a “market perform” rating on shares of W.P. Carey in a research report on Friday, September 25th. Jefferies Financial Group initiated coverage on W.P. Carey in a research note on Tuesday, September 22nd. They issued a “buy” rating and a $73.00 price target for the company. Scotiabank lowered their price target on W.P. Carey from $76.00 to $68.00 and set a “sector perform” rating for the company in a report on Thursday, September 24th. Finally, Wells Fargo & Company dropped their price target on W.P. Carey from $80.00 to $73.00 and set an “overweight” rating on the stock in a research note on Monday, October 19th. Nine investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, W.P. Carey currently has an average rating of “Moderate Buy” and an average target price of $77.36.

About W.P. Carey

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.