W.P. Carey (NYSE:WPC) Releases Earnings Results, Misses Expectations By $0.09 EPS

W.P. Carey (NYSE:WPC) issued its quarterly earnings data on Tuesday. The real estate investment trust reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.09), FiscalAI reports. W.P. Carey had a return on equity of 7.81% and a net margin of 36.34%. The firm had revenue of $468.30 million during the quarter, compared to analyst estimates of $457.57 million.

W.P. Carey Price Performance

Shares of W.P. Carey stock traded down $0.85 during mid-day trading on Tuesday, reaching $63.54. 2,107,693 shares of the stock were exchanged, compared to its average volume of 1,426,885. The company has a market cap of $14.48 billion, a price-to-earnings ratio of 21.69, a price-to-earnings-growth ratio of 3.23 and a beta of 0.75. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 1.01. The firm has a 50-day simple moving average of $67.17 and a 200 day simple moving average of $70.87. W.P. Carey has a fifty-two week low of $62.24 and a fifty-two 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 dividend of $0.95 per share. This is an increase from W.P. Carey’s previous quarterly dividend of $0.94. The ex-dividend date was Wednesday, September 30th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 6.0%. W.P. Carey’s dividend payout ratio is 129.69%.

Analyst Ratings Changes

Several brokerages have commented on WPC. Scotiabank dropped their price target on W.P. Carey from $76.00 to $68.00 and set a “sector perform” rating on the stock in a research report on Thursday, September 24th. Evercore set a $75.00 price objective on shares of W.P. Carey in a research note on Monday, September 21st. Benchmark started coverage on shares of W.P. Carey in a research report on Tuesday, September 22nd. They set a “buy” rating on the stock. UBS Group reiterated a “neutral” rating on shares of W.P. Carey in a research note on Wednesday, July 29th. Finally, BNP Paribas Exane raised shares of W.P. Carey from a “neutral” rating to an “outperform” rating and increased their price target for the company from $73.00 to $88.00 in a report on Wednesday, July 29th. Nine equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.