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

W. P. Carey (NYSE:WPC) is scheduled to be posting 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 register for the company’s earnings conference call can do so using this link.

W. P. Carey (NYSE:WPC) last released its quarterly 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. W. P. Carey had a net margin of 40.68% and a return on equity of 7.78%. The firm had revenue of $410.38 million during the quarter, compared to the consensus estimate of $413.04 million. During the same quarter last year, the firm earned $1.29 earnings per share. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. 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 Stock Performance

NYSE WPC opened at $55.03 on Monday. The company has a market capitalization of $12.04 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 0.44 and a beta of 0.86. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.89. W. P. Carey has a twelve month low of $51.36 and a twelve month high of $74.66. The stock has a fifty day simple moving average of $55.99 and a 200 day simple moving average of $58.83.

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 given a $0.865 dividend. This represents a $3.46 dividend on an annualized basis and a dividend yield of 6.29%. The ex-dividend date was Wednesday, March 27th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.86. W. P. Carey’s payout ratio is 104.85%.

Analyst Upgrades and Downgrades

WPC has been the topic of several analyst reports. Royal Bank of Canada reduced their target price on W. P. Carey from $68.00 to $65.00 and set an “outperform” rating on the stock in a report on Monday, February 12th. Raymond James lowered W. P. Carey from an “outperform” rating to a “market perform” rating in a research note on Monday, February 12th. Wells Fargo & Company reduced their price objective on shares of W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 20th. Scotiabank dropped their target price on shares of W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Monday, March 4th. Finally, Barclays initiated 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 target for the company. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target 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.