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

W.P. Carey (NYSE:WPC) issued its quarterly earnings results on Tuesday. The real estate investment trust reported $1.34 earnings per share 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 Stock Down 0.6%

W.P. Carey stock traded down $0.44 during midday trading on Tuesday, hitting $75.77. 1,987,838 shares of the stock were exchanged, compared to its average volume of 1,411,078. W.P. Carey has a 1 year low of $63.08 and a 1 year high of $77.22. 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 has a market cap of $16.88 billion, a P/E ratio of 32.38, a P/E/G ratio of 2.96 and a beta of 0.76. The company has a 50 day moving average price of $73.64 and a two-hundred day moving average price of $72.06.

W.P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued 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 a positive change from W.P. Carey’s previous quarterly dividend of $0.93. W.P. Carey’s dividend payout ratio (DPR) is 160.68%.

Analyst Ratings Changes

A number of research firms have weighed in on WPC. Citigroup reaffirmed a “market perform” rating on shares of W.P. Carey in a research note on Thursday, June 18th. Scotiabank reduced 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 research report on Thursday, June 18th. Barclays boosted their price objective on shares of W.P. Carey from $78.00 to $80.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 22nd. Royal Bank Of Canada increased their price objective on shares of W.P. Carey from $72.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 30th. Finally, Wells Fargo & Company lifted their target price on shares of W.P. Carey from $77.00 to $80.00 and gave the company an “overweight” rating in a report on Monday, June 1st. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $78.00.

Insider Activity

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

Institutional Trading of W.P. Carey

Several institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. increased its position in shares of W.P. Carey by 416.8% in the 3rd quarter. Invesco Ltd. now owns 3,892,462 shares of the real estate investment trust’s stock worth $263,014,000 after purchasing an additional 3,139,266 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of W.P. Carey by 31,629.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,163,285 shares of the real estate investment trust’s stock worth $139,229,000 after buying an additional 2,156,467 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of W.P. Carey by 1,183.6% in the 3rd quarter. Wellington Management Group LLP now owns 1,130,402 shares of the real estate investment trust’s stock worth $76,381,000 after acquiring an additional 1,042,334 shares during the period. Captrust Financial Advisors boosted its holdings in shares of W.P. Carey by 2,712.0% in the second quarter. Captrust Financial Advisors now owns 771,534 shares of the real estate investment trust’s stock valued at $48,128,000 after acquiring an additional 744,097 shares in the last quarter. Finally, Caisse de depot et placement du Quebec increased its stake in shares of W.P. Carey by 529.2% during the fourth quarter. Caisse de depot et placement du Quebec now owns 704,038 shares of the real estate investment trust’s stock valued at $45,312,000 after acquiring an additional 592,142 shares during the period. 73.73% of the stock is owned by institutional investors and hedge funds.

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.