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

W. P. Carey (NYSE:WPC) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 4.650-4.750 for the period, compared to the consensus EPS estimate of 4.720. The company issued revenue guidance of -. W. P. Carey also updated its FY24 guidance to $4.65 to $4.75 EPS.

Analyst Ratings Changes

A number of analysts have commented on WPC shares. Barclays initiated coverage on shares of W. P. Carey in a report on Wednesday, March 27th. They set an equal weight rating and a $40.00 target price for the company. 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 note on Monday, February 12th. StockNews.com started coverage on W. P. Carey in a research note on Thursday, January 4th. They set a hold rating for the company. Raymond James downgraded W. P. Carey from an outperform rating to a market perform rating in a research note on Monday, February 12th. Finally, Wells Fargo & Company cut their price objective on W. P. Carey from $66.00 to $61.00 and set an equal weight rating for the company in a research note on Tuesday, February 20th. Two investment 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. According to MarketBeat, W. P. Carey has an average rating of Hold and a consensus target price of $63.36.

W. P. Carey Price Performance

Shares of WPC traded down $0.85 during mid-day trading on Tuesday, hitting $54.85. 1,195,701 shares of the stock were exchanged, compared to its average volume of 1,349,982. The company has a market cap of $12.00 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 0.44 and a beta of 0.86. W. P. Carey has a 52-week low of $51.36 and a 52-week high of $74.66. The firm has a 50-day moving average of $55.96 and a two-hundred day moving average of $58.88. 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 (NYSE:WPC) last issued 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 business had revenue of $410.38 million for 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%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.29 EPS. On average, equities analysts predict that W. P. Carey will post 4.56 earnings per share for the current year.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.865 per share. The ex-dividend date was Wednesday, March 27th. This represents a $3.46 annualized dividend and a dividend yield of 6.31%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.86. W. P. Carey’s payout ratio is currently 104.85%.

W. P. Carey Company Profile

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.