W. P. Carey (WPC) Scheduled to Post Quarterly Earnings on Tuesday

W. P. Carey (NYSE:WPC) is set to post its quarterly earnings results after the market closes on Tuesday, April 30th. Analysts expect W. P. Carey to post earnings of $1.14 per share for the quarter. W. P. Carey has set its FY24 guidance at $4.65-4.75 EPS and its FY 2024 guidance at 4.650-4.750 EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

W. P. Carey (NYSE:WPC) last announced its earnings results on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.14. The company had revenue of $410.38 million for the quarter, compared to analyst estimates of $413.04 million. W. P. Carey had a return on equity of 7.78% and a net margin of 40.68%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.29 EPS. On average, analysts expect W. P. Carey to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

W. P. Carey Price Performance

Shares of NYSE WPC opened at $55.03 on Monday. The business has a 50-day simple moving average of $55.99 and a two-hundred day simple moving average of $58.83. The company has a market cap of $12.04 billion, a PE ratio of 16.68, a P/E/G ratio of 0.44 and a beta of 0.86. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.62 and a current ratio of 0.62. W. P. Carey has a fifty-two week low of $51.36 and a fifty-two week high of $74.66.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.865 per share. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.46 dividend on an annualized basis and a yield of 6.29%. W. P. Carey’s dividend payout ratio is presently 104.85%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Raymond James cut W. P. Carey from an “outperform” rating to a “market perform” rating in a research note on Monday, February 12th. StockNews.com started coverage on W. P. Carey in a research note on Thursday, January 4th. They issued a “hold” rating for the company. Barclays assumed coverage on shares of W. P. Carey in a research report on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 target price on the stock. Scotiabank reduced their price target on shares of W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating for the company in a research report on Monday, March 4th. Finally, Wells Fargo & Company lowered their price objective on W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, W. P. Carey currently has a consensus rating of “Hold” and a consensus target price of $63.36.

About W. P. Carey

W. P. Carey ranks among the largest net lease REITs with a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,424 net lease properties covering approximately 173 million square feet and a portfolio of 89 self-storage operating properties as of December 31, 2023.