W. P. Carey (WPC) Set to Announce Quarterly Earnings on Tuesday

W. P. Carey (NYSE:WPC) will announce its earnings results after the market closes on Tuesday, April 30th. Analysts expect the company to announce 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.Investors interested in participating in the company’s conference call can do so using this link.

W. P. Carey (NYSE:WPC) last announced its quarterly earnings results on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.14. The firm had revenue of $410.38 million for the quarter, compared to analysts’ expectations of $413.04 million. W. P. Carey had a net margin of 40.68% and a return on equity of 7.78%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous 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 Trading Down 1.7 %

Shares of WPC stock opened at $55.03 on Friday. The company’s 50-day moving average price is $55.99 and its 200-day moving average price is $58.80. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.89. The stock has a market cap of $12.04 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 0.44 and a beta of 0.86. W. P. Carey has a twelve month low of $51.36 and a twelve month high of $74.66.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.865 per share. This is a boost 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 annualized dividend and a dividend yield of 6.29%. W. P. Carey’s payout ratio is presently 104.85%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on WPC. Royal Bank of Canada lowered their price target on shares of W. P. Carey from $68.00 to $65.00 and set an “outperform” rating on the stock in a research report on Monday, February 12th. Wells Fargo & Company lowered their price target on shares of W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 20th. StockNews.com started coverage on shares of W. P. Carey in a report on Thursday, January 4th. They issued a “hold” rating on the stock. Barclays started coverage on shares of W. P. Carey in a report on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 price objective on the stock. Finally, Raymond James lowered shares of W. P. Carey from an “outperform” rating to a “market perform” rating in a report on Monday, February 12th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, W. P. Carey has an average rating of “Hold” and an average target price of $63.36.

W. P. Carey Company Profile

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.