WP Carey (NYSE:WPC) Issues 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 EPS guidance of $4.86-5.01 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.59. WP Carey also updated its FY 2020
Pre-Market guidance to 4.86-5.01 EPS.

WPC traded up $0.08 during trading on Monday, hitting $88.08. 20,809 shares of the stock traded hands, compared to its average volume of 388,747. WP Carey has a twelve month low of $72.51 and a twelve month high of $93.62. The company has a market cap 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 has a debt-to-equity ratio of 0.87, a current ratio of 0.67 and a quick ratio of 0.67. The business has a 50 day moving average price of $83.72 and a 200 day moving average price of $85.83.

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

A number of research firms have weighed in on WPC. Wells Fargo & Co raised shares of WP Carey from a market perform rating to an outperform rating and set a $92.00 target price on the stock in a research note on Tuesday, December 10th. 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. Finally, Zacks Investment Research cut shares of WP Carey from a hold rating to a sell rating in a research note on Friday, February 14th. 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’s stock. WP Carey presently has a consensus rating of Hold and an average target price of $84.50.

In related news, Director Mark A. Alexander bought 2,300 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were purchased at an average price of $80.50 per share, with a total value of $185,150.00. Following the completion of the purchase, the director now owns 10,878 shares in the company, valued at approximately $875,679. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 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.

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