W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $16 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,215 net lease properties covering approximately 141 million square feet as of March 31, 2020.
Established dividend payer with moderate growth potential.
Share Price & News
How has W. P. Carey's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: WPC has not had significant price volatility in the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: WPC underperformed the US REITs industry which returned -12.6% over the past year.
Return vs Market: WPC underperformed the US Market which returned 5.3% over the past year.
Price Volatility Vs. Market
How volatile is W. P. Carey's share price compared to the market and industry in the last 5 years?
Simply Wall St News
3 weeks ago | Simply Wall StWho Has Been Buying W. P. Carey Inc. (NYSE:WPC) Shares?
1 month ago | Simply Wall StDo Directors Own W. P. Carey Inc. (NYSE:WPC) Shares?
2 months ago | Simply Wall StIntroducing W. P. Carey (NYSE:WPC), The Stock That Dropped 22% In The Last Year
Is W. P. Carey undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: WPC ($66.85) is trading below our estimate of fair value ($101.68)
Significantly Below Fair Value: WPC is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: WPC is poor value based on its PE Ratio (38.1x) compared to the US REITs industry average (26.9x).
PE vs Market: WPC is poor value based on its PE Ratio (38.1x) compared to the US market (16.1x).
Price to Earnings Growth Ratio
PEG Ratio: WPC is poor value based on its PEG Ratio (1.2x)
Price to Book Ratio
PB vs Industry: WPC is overvalued based on its PB Ratio (1.7x) compared to the US REITs industry average (1.3x).
How is W. P. Carey forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: WPC's forecast earnings growth (31.9% per year) is above the savings rate (2.2%).
Earnings vs Market: WPC's earnings (31.9% per year) are forecast to grow faster than the US market (22.5% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: WPC's revenue (2.4% per year) is forecast to grow slower than the US market (9.2% per year).
High Growth Revenue: WPC's revenue (2.4% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: WPC's Return on Equity is forecast to be low in 3 years time (11.8%).
How has W. P. Carey performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: WPC has high quality earnings.
Growing Profit Margin: WPC's current net profit margins (25.1%) are lower than last year (41%).
Past Earnings Growth Analysis
Earnings Trend: WPC's earnings have grown by 17.4% per year over the past 5 years.
Accelerating Growth: WPC's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: WPC had negative earnings growth (-26.9%) over the past year, making it difficult to compare to the REITs industry average (5.3%).
Return on Equity
High ROE: WPC's Return on Equity (4.5%) is considered low.
How is W. P. Carey's financial position?
Financial Position Analysis
Short Term Liabilities: WPC's short term assets ($1.2B) exceed its short term liabilities ($661.0M).
Long Term Liabilities: WPC's short term assets ($1.2B) do not cover its long term liabilities ($6.5B).
Debt to Equity History and Analysis
Debt Level: WPC's debt to equity ratio (89.2%) is considered high.
Reducing Debt: WPC's debt to equity ratio has reduced from 116.8% to 89.2% over the past 5 years.
Debt Coverage: WPC's debt is not well covered by operating cash flow (14.1%).
Interest Coverage: WPC's interest payments on its debt are not well covered by EBIT (2.6x coverage).
What is W. P. Carey current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: WPC's dividend (6.23%) is higher than the bottom 25% of dividend payers in the US market (1.68%).
High Dividend: WPC's dividend (6.23%) is in the top 25% of dividend payers in the US market (4.59%)
Stability and Growth of Payments
Stable Dividend: WPC's dividends per share have been stable in the past 10 years.
Growing Dividend: WPC's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (84.7%), WPC's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Jason Fox (47yo)
Mr. Jason E. Fox has been Chief Executive Officer, President and Director of Corporate Property Associates 18 - Global Incorporated since January 1, 2018. Mr. Fox serves as the Chief Executive Officer of W ...
CEO Compensation Analysis
Compensation vs Market: Jason's total compensation ($USD6.92M) is below average for companies of similar size in the US market ($USD11.56M).
Compensation vs Earnings: Jason's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
|CEO & Director||2.5yrs||US$6.92m||0.24% $28.0m|
|MD & CFO||3.75yrs||US$2.31m||0.013% $1.5m|
|MD & Head of Investments||3.58yrs||US$2.89m||0.37% $43.9m|
|MD & Head of Asset Management||6.5yrs||US$1.65m||0.036% $4.3m|
|Chief Investment Officer & MD||16.5yrs||US$1.03m||no data|
|Chief Accounting Officer||3.75yrs||no data||0.0037% $443.5k|
|MD, Chief Administrative Officer||2.75yrs||no data||no data|
|Director of Institutional Investor Relations||no data||no data||no data|
|MD & Head of International Investments||18.33yrs||US$1.98m||no data|
|Managing Director of North American Investments Team||3.5yrs||no data||no data|
Experienced Management: WPC's management team is considered experienced (3.7 years average tenure).
|CEO & Director||2.5yrs||US$6.92m||0.24% $28.0m|
|Independent Director||3.83yrs||US$269.98k||0.012% $1.4m|
|Independent Non-Executive Chairman of the Board||1.08yrs||US$336.23k||0.0096% $1.1m|
|Independent Director||9.08yrs||US$249.98k||0.0082% $975.0k|
|Independent Director||2.33yrs||US$249.98k||0.0039% $461.3k|
|Independent Director||2.83yrs||US$256.23k||0.0036% $431.6k|
|Independent Director||4.08yrs||US$266.23k||0.0065% $766.9k|
|Independent Director||9.08yrs||US$249.98k||0.012% $1.4m|
|Independent Director||6.33yrs||US$249.98k||0.0075% $889.4k|
Experienced Board: WPC's board of directors are considered experienced (3.8 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: WPC insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 4.4%.
W. P. Carey Inc.'s company bio, employee growth, exchange listings and data sources
- Name: W. P. Carey Inc.
- Ticker: WPC
- Exchange: NYSE
- Founded: 1973
- Industry: Diversified REITs
- Sector: Real Estate
- Market Cap: US$11.890b
- Shares outstanding: 177.87m
- Website: https://www.wpcarey.com
Number of Employees
- W. P. Carey Inc.
- 50 Rockefeller Plaza
- New York
- New York
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|WPC||NYSE (New York Stock Exchange)||Yes||Common Stock||US||USD||Jan 1998|
|WPY||DB (Deutsche Boerse AG)||Yes||Common Stock||DE||EUR||Jan 1998|
|0LS8||LSE (London Stock Exchange)||Yes||Common Stock||GB||USD||Jan 1998|
W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $16 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,215 net lease properties covering approximately 141 million square feet as of March 31, 2020. For over four decades, the company has invested in high-quality single-tenant industrial, warehouse, office, retail and self-storage properties subject to long-term net leases with built-in rent escalators. Its portfolio is located primarily in the U.S. and Northern and Western Europe and is well-diversified by tenant, property type, geographic location and tenant industry.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/07/14 23:52|
|End of Day Share Price||2020/07/14 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.