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

W. P. Carey (NYSE:WPC) is set to issue its quarterly earnings data after the market closes on Tuesday, April 30th. Analysts expect the company to announce 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.Parties interested in registering for the company’s conference call can do so using this link.

W. P. Carey (NYSE:WPC) last released its quarterly earnings data on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.14. The firm had revenue of $410.38 million during the quarter, compared to analysts’ expectations of $413.04 million. W. P. Carey had a return on equity of 7.78% and a net margin of 40.68%. W. P. Carey’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.29 earnings per share. 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 Trading Down 1.7 %

NYSE:WPC opened at $55.03 on Friday. The stock has a fifty day moving average price of $55.99 and a two-hundred day moving average price of $58.80. The stock 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 debt-to-equity ratio of 0.89, a quick ratio of 0.62 and a current ratio of 0.62. W. P. Carey has a 1 year low of $51.36 and a 1 year high of $74.66.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a $0.865 dividend. This is a boost from W. P. Carey’s previous quarterly dividend of $0.86. The ex-dividend date was Wednesday, March 27th. This represents a $3.46 annualized dividend and a yield of 6.29%. W. P. Carey’s dividend payout ratio is presently 104.85%.

Analyst Upgrades and Downgrades

WPC has been the subject of several research analyst reports. Royal Bank of Canada cut their price objective on W. P. Carey from $68.00 to $65.00 and set an “outperform” rating for the company in a research report on Monday, February 12th. Barclays assumed coverage on W. P. Carey in a research report on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 price target for the company. StockNews.com assumed coverage on W. P. Carey in a research report on Thursday, January 4th. They issued a “hold” rating for the company. Scotiabank dropped their price target on W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating for the company in a research report on Monday, March 4th. Finally, Raymond James cut W. P. Carey from an “outperform” rating to a “market perform” rating in a research report on Monday, February 12th. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $63.36.

About W. P. Carey

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.