WP Carey (WPC) Issues FY 2018 Earnings Guidance

WP Carey (NYSE:WPC) issued an update on its FY 2018 earnings guidance on Friday morning. The company provided EPS guidance of $5.34-5.44 for the period. WP Carey also updated its FY18 guidance to $5.34-5.44 EPS.

WPC stock opened at $65.60 on Friday. The company has a market capitalization of $7.03 billion, a PE ratio of 12.17 and a beta of 0.55. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.19 and a quick ratio of 0.19. WP Carey has a 12-month low of $59.23 and a 12-month high of $72.41.

WP Carey (NYSE:WPC) last released its earnings results on Friday, November 2nd. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.08. The company had revenue of $209.40 million during the quarter, compared to analyst estimates of $215.47 million. WP Carey had a return on equity of 8.51% and a net margin of 38.18%. WP Carey’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the company posted $0.74 earnings per share. Analysts anticipate that WP Carey will post 5.26 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Monday, October 1st were issued a $1.025 dividend. The ex-dividend date was Friday, September 28th. This is a positive change from WP Carey’s previous quarterly dividend of $1.02. This represents a $4.10 annualized dividend and a dividend yield of 6.25%. WP Carey’s dividend payout ratio is currently 77.36%.

WPC has been the subject of several recent analyst reports. Zacks Investment Research raised WP Carey from a hold rating to a buy rating and set a $75.00 target price for the company in a report on Friday, August 31st. ValuEngine lowered WP Carey from a hold rating to a sell rating in a report on Tuesday, October 2nd. Finally, Bank of America upped their price objective on WP Carey from $59.00 to $66.25 and gave the company an underperform rating in a research note on Monday, August 13th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $70.08.

About WP Carey

Celebrating its 45th anniversary, W. P. Carey ranks among the largest diversified net lease REITs with an enterprise value of over $11 billion and a portfolio of operationally-critical commercial real estate totaling 878 properties covering approximately 87 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.

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