W. P. Carey (NYSE:WPC) Issues FY 2024 Earnings Guidance

W. P. Carey (NYSE:WPC) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 4.650-4.710 for the period, compared to the consensus estimate of 4.740. The company issued revenue guidance of -. W. P. Carey also updated its FY24 guidance to $4.65-4.71 EPS.

Analyst Upgrades and Downgrades

WPC has been the subject of several analyst reports. Wells Fargo & Company restated an “equal weight” rating and set a $63.00 target price (up from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Evercore ISI increased their target price on shares of W. P. Carey from $63.00 to $66.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Scotiabank decreased their price target on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. UBS Group raised their price objective on W. P. Carey from $57.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Finally, Royal Bank of Canada lowered their price target on W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $63.25.

W. P. Carey Stock Down 0.9 %

Shares of WPC stock traded down $0.50 during trading on Thursday, reaching $55.69. The company’s stock had a trading volume of 1,742,832 shares, compared to its average volume of 1,215,116. W. P. Carey has a one year low of $52.67 and a one year high of $67.40. The business has a fifty day moving average price of $60.60 and a 200-day moving average price of $58.18. The company has a market cap of $12.19 billion, a price-to-earnings ratio of 21.93, a price-to-earnings-growth ratio of 1.11 and a beta of 0.94. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.94.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.62). W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. The business had revenue of $394.78 million for the quarter, compared to analyst estimates of $377.43 million. During the same quarter in the prior year, the company earned $1.32 earnings per share. The company’s quarterly revenue was down 11.9% on a year-over-year basis. Analysts anticipate that W. P. Carey will post 4.52 earnings per share for the current year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.875 dividend. The ex-dividend date was Monday, September 30th. This represents a $3.50 dividend on an annualized basis and a yield of 6.28%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio (DPR) is currently 137.80%.

Insider Transactions at W. P. Carey

In other W. P. Carey news, Director Mark A. Alexander purchased 3,500 shares of W. P. Carey stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average price of $55.87 per share, for a total transaction of $195,545.00. Following the completion of the acquisition, the director now owns 38,124 shares of the company’s stock, valued at approximately $2,129,987.88. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 1.08% of the stock is owned by company insiders.

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.