WP Carey Inc (NYSE:WPC) Expected to Announce Quarterly Sales of $299.33 Million

Share on StockTwits

Equities research analysts expect WP Carey Inc (NYSE:WPC) to post sales of $299.33 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for WP Carey’s earnings. The lowest sales estimate is $289.98 million and the highest is $308.67 million. WP Carey reported sales of $173.91 million during the same quarter last year, which indicates a positive year-over-year growth rate of 72.1%. The firm is expected to issue its next quarterly earnings results on Friday, August 2nd.

On average, analysts expect that WP Carey will report full year sales of $1.19 billion for the current financial year, with estimates ranging from $1.17 billion to $1.24 billion. For the next year, analysts expect that the company will post sales of $1.24 billion, with estimates ranging from $1.17 billion to $1.31 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover WP Carey.

WP Carey (NYSE:WPC) last announced its quarterly earnings results on Friday, May 3rd. The real estate investment trust reported $1.21 EPS for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.01. WP Carey had a net margin of 44.84% and a return on equity of 8.12%. The business had revenue of $298.30 million for the quarter, compared to analyst estimates of $304.42 million. During the same quarter in the prior year, the business earned $0.72 EPS. WP Carey’s quarterly revenue was up 47.8% on a year-over-year basis.

A number of brokerages recently commented on WPC. Zacks Investment Research upgraded shares of WP Carey from a “sell” rating to a “hold” rating in a research note on Friday, May 24th. Citigroup upgraded shares of WP Carey from a “sell” rating to a “neutral” rating and upped their price target for the company from $59.00 to $81.00 in a research note on Friday, June 7th. Mitsubishi UFJ Financial Group began coverage on shares of WP Carey in a research note on Tuesday, March 26th. They issued a “neutral” rating and a $78.00 price target on the stock. Evercore ISI lowered shares of WP Carey from an “in-line” rating to an “underperform” rating in a research note on Monday, April 1st. They noted that the move was a valuation call. Finally, Capital One Financial restated an “equal weight” rating on shares of WP Carey in a research report on Tuesday, March 5th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $74.45.

WPC traded down $0.01 on Wednesday, reaching $85.16. The company had a trading volume of 15,433 shares, compared to its average volume of 681,390. WP Carey has a fifty-two week low of $62.12 and a fifty-two week high of $86.41. The firm has a market cap of $14.42 billion, a P/E ratio of 15.81, a price-to-earnings-growth ratio of 5.97 and a beta of 0.51. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.43 and a current ratio of 0.43.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $1.034 per share. This represents a $4.14 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date of this dividend is Thursday, June 27th. This is a positive change from WP Carey’s previous quarterly dividend of $1.03. WP Carey’s dividend payout ratio is presently 76.62%.

Large investors have recently made changes to their positions in the business. Valley National Advisers Inc. acquired a new position in shares of WP Carey during the 4th quarter worth approximately $25,000. Karp Capital Management Corp acquired a new stake in shares of WP Carey during the 4th quarter worth approximately $26,000. Sage Capital Advisors llc acquired a new stake in shares of WP Carey during the 4th quarter worth approximately $26,000. Proficio Capital Partners LLC boosted its position in shares of WP Carey by 40.5% during the 4th quarter. Proficio Capital Partners LLC now owns 486 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 140 shares in the last quarter. Finally, Executive Wealth Management LLC acquired a new stake in shares of WP Carey during the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 53.95% of the company’s stock.

WP Carey Company Profile

W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $17 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,163 net lease properties covering approximately 131 million square feet. For over four decades, the company has invested in high-quality single-tenant industrial, warehouse, office and retail properties subject to long-term leases with built-in rent escalators.

Further Reading: Buy-Side Analysts

Get a free copy of the Zacks research report on WP Carey (WPC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for WP Carey (NYSE:WPC)

Receive News & Ratings for WP Carey Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WP Carey and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Autoliv  PT Lowered to $62.00 at Buckingham Research
Autoliv PT Lowered to $62.00 at Buckingham Research
Shotspotter  Cut to “Market Perform” at Northland Securities
Shotspotter Cut to “Market Perform” at Northland Securities
Buckingham Research Increases Sonic Automotive  Price Target to $20.00
Buckingham Research Increases Sonic Automotive Price Target to $20.00
Vail Resorts  Earns Market Perform Rating from Analysts at Wells Fargo & Co
Vail Resorts Earns Market Perform Rating from Analysts at Wells Fargo & Co
Johnson Outdoors  Downgraded by Sidoti
Johnson Outdoors Downgraded by Sidoti
Autoliv  Stock Rating Upgraded by Robert W. Baird
Autoliv Stock Rating Upgraded by Robert W. Baird


© 2006-2019 Ticker Report