Wall Street analysts expect W. P. Carey (NYSE:WPC) to post sales of $187.48 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for W. P. Carey’s earnings, with the lowest sales estimate coming in at $173.48 million and the highest estimate coming in at $201.49 million. W. P. Carey reported sales of $219.06 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 14.4%. The firm is scheduled to issue its next earnings report on Tuesday, May 8th.
According to Zacks, analysts expect that W. P. Carey will report full-year sales of $795.44 million for the current year, with estimates ranging from $706.05 million to $870.00 million. For the next year, analysts forecast that the business will post sales of $834.79 million per share, with estimates ranging from $747.73 million to $942.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover W. P. Carey.
W. P. Carey (NYSE:WPC) last posted its quarterly earnings data on Friday, February 23rd. The real estate investment trust reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.06. The company had revenue of $196.96 million for the quarter, compared to the consensus estimate of $210.92 million. W. P. Carey had a net margin of 36.17% and a return on equity of 8.05%. The firm’s revenue was down 13.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.05 earnings per share.
A number of equities analysts recently issued reports on the stock. ValuEngine downgraded shares of W. P. Carey from a “buy” rating to a “hold” rating in a report on Tuesday, February 20th. Zacks Investment Research raised shares of W. P. Carey from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th. Finally, Capital One Financial reissued an “equal weight” rating on shares of W. P. Carey in a report on Sunday, February 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $70.00.
In other news, Director Peter Farrell purchased 2,035 shares of the stock in a transaction on Monday, March 12th. The shares were acquired at an average price of $61.88 per share, with a total value of $125,925.80. Following the completion of the acquisition, the director now directly owns 4,378 shares of the company’s stock, valued at $270,910.64. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Christopher Niehaus purchased 4,000 shares of the stock in a transaction on Friday, March 16th. The shares were purchased at an average cost of $62.28 per share, for a total transaction of $249,120.00. Following the acquisition, the director now directly owns 5,188 shares of the company’s stock, valued at $323,108.64. The disclosure for this purchase can be found here. 1.56% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. raised its position in shares of W. P. Carey by 11.4% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 85,181 shares of the real estate investment trust’s stock valued at $5,869,000 after buying an additional 8,740 shares during the last quarter. Xact Kapitalforvaltning AB bought a new stake in W. P. Carey in the fourth quarter worth $298,000. Pin Oak Investment Advisors Inc. bought a new stake in W. P. Carey in the fourth quarter worth $120,000. Stony Point Wealth Management Inc. bought a new stake in W. P. Carey in the fourth quarter worth $2,330,000. Finally, WealthPLAN Partners LLC increased its position in W. P. Carey by 18.9% in the fourth quarter. WealthPLAN Partners LLC now owns 41,980 shares of the real estate investment trust’s stock worth $2,892,000 after purchasing an additional 6,667 shares during the last quarter. 50.33% of the stock is currently owned by institutional investors and hedge funds.
WPC opened at $62.22 on Tuesday. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $6,581.59, a P/E ratio of 11.74, a price-to-earnings-growth ratio of 3.85 and a beta of 0.73. W. P. Carey has a 12-month low of $59.23 and a 12-month high of $72.41.
The company also recently declared a quarterly dividend, which was paid on Monday, April 16th. Shareholders of record on Thursday, March 29th were issued a dividend of $1.015 per share. The ex-dividend date was Wednesday, March 28th. This represents a $4.06 annualized dividend and a yield of 6.53%. This is an increase from W. P. Carey’s previous quarterly dividend of $1.01. W. P. Carey’s payout ratio is currently 76.60%.
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W. P. Carey Company Profile
Celebrating its 45th anniversary, W. P. Carey Inc is a leading internally-managed net lease REIT that provides long-term sale-leaseback and build-to-suit financing solutions primarily for companies in the U.S. and Europe. At December 31, 2017, the Company had an enterprise value of approximately $11.5 billion.
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