WP Carey (NYSE:WPC) Updates FY20 Earnings Guidance

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WP Carey (NYSE:WPC) issued an update on its FY20 earnings guidance on Friday morning. The company provided earnings per share guidance of $4.86-5.01 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.59. WP Carey also updated its FY 2020
Pre-Market guidance to 4.86-5.01 EPS.

Shares of NYSE WPC traded up $0.08 during trading hours on Monday, hitting $88.08. 20,809 shares of the company’s stock were exchanged, compared to its average volume of 388,747. WP Carey has a 1-year low of $72.51 and a 1-year high of $93.62. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market capitalization of $15.16 billion, a price-to-earnings ratio of 49.41, a PEG ratio of 4.49 and a beta of 0.39. The company’s 50-day moving average price is $83.72 and its 200-day moving average price is $85.83.

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

Several equities analysts have commented on the company. 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. Evercore ISI raised WP Carey from an underperform rating to an in-line rating and set a $88.00 price target for the company in a report on Monday, November 11th. Finally, Zacks Investment Research cut WP Carey from a hold rating to a sell rating in a report on Friday, February 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. WP Carey currently has an average rating of Hold and an average price target of $84.50.

In other news, Director Mark A. Alexander acquired 2,300 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were purchased at an average cost of $80.50 per share, for a total transaction of $185,150.00. Following the transaction, the director now owns 10,878 shares of the company’s stock, valued at $875,679. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 1.09% of the stock is currently owned by company insiders.

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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