WP Carey (NYSE:WPC) Releases Earnings Results, Beats Expectations By $0.79 EPS

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WP Carey (NYSE:WPC) announced its earnings results on Friday. The real estate investment trust reported $1.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.79, RTT News reports. The company had revenue of $311.20 million during the quarter, compared to analysts’ expectations of $315.57 million. WP Carey had a net margin of 30.89% and a return on equity of 5.31%. WP Carey’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.64 earnings per share. WP Carey updated its FY 2020
Pre-Market guidance to 4.86-5.01 EPS and its FY20 guidance to $4.86-5.01 EPS.

Shares of WP Carey stock traded up $3.15 on Friday, hitting $88.00. The stock had a trading volume of 853,283 shares, compared to its average volume of 367,503. The stock has a 50 day moving average of $83.72 and a 200 day moving average of $85.83. WP Carey has a twelve month low of $72.51 and a twelve month high of $93.62. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a market capitalization of $14.62 billion, a P/E ratio of 37.29, a PEG ratio of 4.32 and a beta of 0.39.

Several equities research analysts recently weighed in on WPC shares. BMO Capital Markets initiated coverage on WP Carey in a research note on Friday, October 25th. They set an “outperform” rating for the company. Zacks Investment Research downgraded WP Carey from a “hold” rating to a “sell” rating in a research note on Friday, February 14th. Wells Fargo & Co raised WP Carey from a “market perform” rating to an “outperform” rating and set a $92.00 target price for the company in a research note on Tuesday, December 10th. Finally, Evercore ISI raised WP Carey from an “underperform” rating to an “in-line” rating and set a $88.00 target price for the company in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $84.50.

In related news, Director Mark A. Alexander bought 2,300 shares of WP Carey stock in a transaction that occurred on Wednesday, December 11th. The shares were acquired at an average cost of $80.50 per share, for a total transaction of $185,150.00. Following the completion of the acquisition, the director now directly owns 10,878 shares of the company’s stock, valued at approximately $875,679. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.09% of the company’s stock.

WP Carey Company Profile

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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Earnings History for WP Carey (NYSE:WPC)

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