Wall Street brokerages forecast that WP Carey Inc (NYSE:WPC) will announce $299.33 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for WP Carey’s earnings, with the highest sales estimate coming in at $308.67 million and the lowest estimate coming in at $289.98 million. WP Carey reported sales of $173.91 million during the same quarter last year, which would suggest a positive year over year growth rate of 72.1%. The business is scheduled to announce 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 year, with estimates ranging from $1.17 billion to $1.24 billion. For the next year, analysts expect that the firm will post sales of $1.24 billion, with estimates ranging from $1.17 billion to $1.31 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow WP Carey.
WP Carey (NYSE:WPC) last posted its quarterly earnings data on Friday, May 3rd. The real estate investment trust reported $1.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.01. WP Carey had a return on equity of 8.12% and a net margin of 44.84%. The firm had revenue of $298.30 million during the quarter, compared to the consensus estimate of $304.42 million. During the same period in the prior year, the company earned $0.72 EPS. The firm’s revenue was up 47.8% compared to the same quarter last year.
NYSE WPC traded up $0.33 during mid-day trading on Friday, hitting $84.33. The stock had a trading volume of 636,325 shares, compared to its average volume of 922,422. The stock’s 50 day moving average is $83.72. WP Carey has a twelve month low of $62.12 and a twelve month high of $86.41. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.43 and a quick ratio of 0.43. The company has a market capitalization of $14.36 billion, a PE ratio of 15.65, a price-to-earnings-growth ratio of 5.88 and a beta of 0.47.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $1.034 dividend. This is a boost from WP Carey’s previous quarterly dividend of $1.03. This represents a $4.14 annualized dividend and a yield of 4.90%. The ex-dividend date is Thursday, June 27th. WP Carey’s dividend payout ratio is presently 76.81%.
A number of large investors have recently modified their holdings of WPC. JPMorgan Chase & Co. grew its holdings in WP Carey by 104.2% in the 1st quarter. JPMorgan Chase & Co. now owns 3,938,835 shares of the real estate investment trust’s stock valued at $308,529,000 after buying an additional 2,009,980 shares in the last quarter. Norges Bank purchased a new stake in WP Carey in the 4th quarter valued at $71,249,000. California Public Employees Retirement System grew its holdings in WP Carey by 460.9% in the 1st quarter. California Public Employees Retirement System now owns 968,972 shares of the real estate investment trust’s stock valued at $75,900,000 after buying an additional 796,225 shares in the last quarter. BlackRock Inc. grew its holdings in WP Carey by 4.6% in the 1st quarter. BlackRock Inc. now owns 13,349,952 shares of the real estate investment trust’s stock valued at $1,045,703,000 after buying an additional 592,140 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in WP Carey by 50.3% in the 4th quarter. Northern Trust Corp now owns 1,676,755 shares of the real estate investment trust’s stock valued at $109,559,000 after buying an additional 561,017 shares in the last quarter. Institutional investors own 53.90% of the company’s stock.
About WP Carey
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.
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