WP Carey (NYSE:WPC) Releases FY 2020 Pre-Market Earnings Guidance

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WP Carey (NYSE:WPC) updated its FY 2020
Pre-Market earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 4.86-5.01 for the period. WP Carey also updated its FY20 guidance to $4.86-5.01 EPS.

Shares of WPC stock traded up $0.07 during trading hours on Monday, hitting $88.07. 197,451 shares of the company’s stock were exchanged, compared to its average volume of 388,747. WP Carey has a fifty-two week low of $72.51 and a fifty-two week high of $93.62. The firm has a market cap of $15.16 billion, a P/E ratio of 49.48, a P/E/G ratio of 4.49 and a beta of 0.39. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.87. The firm has a 50 day moving average of $83.72 and a two-hundred day moving average of $85.83.

WP Carey (NYSE:WPC) last issued its quarterly earnings results on Friday, February 21st. The real estate investment trust reported $1.28 EPS for the quarter, topping the consensus estimate of $0.49 by $0.79. The company had revenue of $311.20 million during the quarter, compared to analyst estimates of $315.57 million. WP Carey had a net margin of 24.76% and a return on equity of 4.37%. The firm’s revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.64 EPS. On average, equities analysts forecast that WP Carey will post 4.91 earnings per share for the current fiscal year.

A number of research analysts have weighed in on the stock. Evercore ISI raised shares of WP Carey from an underperform rating to an in-line rating and set a $88.00 target price on the stock in a research note on Monday, November 11th. Zacks Investment Research lowered WP Carey from a hold rating to a sell rating in a research report on Friday, February 14th. Finally, Wells Fargo & Co raised WP Carey from a market perform rating to an outperform rating and set a $92.00 price target for the company in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. WP Carey presently has a consensus rating of Hold and an average price target of $84.50.

In other news, Director Mark A. Alexander acquired 2,300 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was purchased at an average cost of $80.50 per share, for a total transaction of $185,150.00. Following the completion of the transaction, the director now owns 10,878 shares in the company, valued at $875,679. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.09% 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.

Further Reading: Asset Allocation, Balancing Your Investments

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