W. P. Carey
Market Cap
US$11.7b
Last Updated
2021/01/21 23:54 UTC
Data Sources
Company Financials +
Executive Summary
W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $18 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,215 net lease properties covering approximately 142 million square feet as of September 30, 2020. More Details
Rewards
Risk Analysis
Earnings are forecast to decline by an average of 4.1% per year for the next 3 years
Snowflake Analysis
6 star dividend payer with proven track record.
Similar Companies
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 is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 4% a week.
Volatility Over Time: WPC's weekly volatility (4%) has been stable over the past year.
Market Performance
7 Day Return
0.06%
WPC
3.2%
US REITs
1.5%
US Market
1 Year Return
-20.9%
WPC
-9.9%
US REITs
22.8%
US Market
Return vs Industry: WPC underperformed the US REITs industry which returned -9.9% over the past year.
Return vs Market: WPC underperformed the US Market which returned 22.8% over the past year.
Shareholder returns
| WPC | Industry | Market | |
|---|---|---|---|
| 7 Day | 0.06% | 3.2% | 1.5% |
| 30 Day | -5.2% | 2.9% | 5.0% |
| 90 Day | -0.2% | 6.6% | 15.2% |
| 1 Year | -15.7%-20.9% | -5.6%-9.9% | 25.6%22.8% |
| 3 Year | 21.0%1.3% | 25.2%9.8% | 47.3%37.5% |
| 5 Year | 58.1%17.0% | 55.5%23.5% | 133.4%107.3% |
Long-Term 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
2 weeks ago | Simply Wall St
What Is The Ownership Structure Like For W. P. Carey Inc. (NYSE:WPC)?1 month ago | Simply Wall St
Did You Participate In Any Of W. P. Carey's (NYSE:WPC) Respectable 57% Return?1 month ago | Simply Wall St
Do Fundamentals Have Any Role To Play In Driving W. P. Carey Inc.'s (NYSE:WPC) Stock Up Recently?Valuation
Is W. P. Carey undervalued compared to its fair value and its price relative to the market?
44.5%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: WPC ($66.65) is trading below our estimate of fair value ($120.14)
Significantly Below Fair Value: WPC is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: WPC is good value based on its PE Ratio (25.7x) compared to the US REITs industry average (38.5x).
PE vs Market: WPC is poor value based on its PE Ratio (25.7x) compared to the US market (21.1x).
Price to Earnings Growth Ratio
PEG Ratio: WPC's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: WPC's PB Ratio (1.7x) is in line with the US REITs industry average.
Next Steps
Future Growth
How is W. P. Carey forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?
-4.1%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: WPC's earnings are forecast to decline over the next 3 years (-4.1% per year).
Earnings vs Market: WPC's earnings are forecast to decline over the next 3 years (-4.1% per year).
High Growth Earnings: WPC's earnings are forecast to decline over the next 3 years.
Revenue vs Market: WPC's revenue (3.4% per year) is forecast to grow slower than the US market (10.5% per year).
High Growth Revenue: WPC's revenue (3.4% 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 (12.4%).
Next Steps
Past Performance
How has W. P. Carey performed over the past 5 years?
15.2%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: WPC has a large one-off gain of $79.9M impacting its September 30 2020 financial results.
Growing Profit Margin: WPC's current net profit margins (37.8%) are higher than last year (31.1%).
Past Earnings Growth Analysis
Earnings Trend: WPC's earnings have grown by 15.2% per year over the past 5 years.
Accelerating Growth: WPC's earnings growth over the past year (22.2%) exceeds its 5-year average (15.2% per year).
Earnings vs Industry: WPC earnings growth over the past year (22.2%) exceeded the REITs industry 2.9%.
Return on Equity
High ROE: WPC's Return on Equity (6.7%) is considered low.
Next Steps
Financial Health
How is W. P. Carey's financial position?
Financial Position Analysis
Short Term Liabilities: WPC's short term assets ($997.2M) exceed its short term liabilities ($674.4M).
Long Term Liabilities: WPC's short term assets ($997.2M) do not cover its long term liabilities ($6.6B).
Debt to Equity History and Analysis
Debt Level: WPC's debt to equity ratio (90.4%) is considered high.
Reducing Debt: WPC's debt to equity ratio has reduced from 126.8% to 90.4% over the past 5 years.
Debt Coverage: WPC's debt is not well covered by operating cash flow (12.7%).
Interest Coverage: WPC's interest payments on its debt are not well covered by EBIT (2.7x coverage).
Balance Sheet
Next Steps
Dividend
What is W. P. Carey current dividend yield, its reliability and sustainability?
6.28%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: WPC's dividend (6.28%) is higher than the bottom 25% of dividend payers in the US market (1.37%).
High Dividend: WPC's dividend (6.28%) is in the top 25% of dividend payers in the US market (3.86%)
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 (80%), WPC's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: WPC's dividends in 3 years are forecast to be covered by earnings (88% payout ratio).
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Management
How experienced are the management team and are they aligned to shareholders interests?
4.0yrs
Average management tenure
CEO
Jason Fox (47 yo)
3yrs
Tenure
US$6,918,604
Compensation
Mr. Jason E. Fox has been Chief Executive Officer, President and Director of Corporate Property Associates 18 - Global Incorporated since January 1, 2018. Mr. Fox serves as the Chief Executive Officer of W...
CEO Compensation Analysis
Compensation vs Market: Jason's total compensation ($USD6.92M) is below average for companies of similar size in the US market ($USD10.55M).
Compensation vs Earnings: Jason's compensation has increased by more than 20% in the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Director | 3yrs | US$6.92m | 0.24% $ 27.9m | |
| President | 3yrs | US$3.57m | 0.28% $ 32.9m | |
| MD & CFO | 4.25yrs | US$2.31m | 0.013% $ 1.5m | |
| MD & Head of Investments | 4.08yrs | US$2.89m | 0.37% $ 42.8m | |
| MD & Head of Asset Management | 3.83yrs | US$1.65m | 0.045% $ 5.3m | |
| Chief Investment Officer & MD | 17yrs | US$1.03m | no data | |
| Chief Accounting Officer | 4.25yrs | no data | 0.0012% $ 135.6k | |
| MD, Chief Administrative Officer | 3.25yrs | no data | no data | |
| Executive Director & Head of Investor Relations | no data | no data | no data | |
| MD & Head of International Investments | 18.83yrs | US$1.98m | no data | |
| Managing Director of North American Investments Team | 4yrs | no data | no data | |
| Senior Vice President of Credit & Risk Team | no data | no data | no data |
4.0yrs
Average Tenure
47yo
Average Age
Experienced Management: WPC's management team is considered experienced (4 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Director | 3yrs | US$6.92m | 0.24% $ 27.9m | |
| Independent Director | 4.33yrs | US$269.98k | 0.012% $ 1.4m | |
| Independent Non-Executive Chairman of the Board | 1.58yrs | US$336.23k | 0.0097% $ 1.1m | |
| Independent Director | 9.58yrs | US$249.98k | 0.0083% $ 972.6k | |
| Independent Director | 2.83yrs | US$249.98k | 0.0039% $ 459.4k | |
| Independent Director | 3.33yrs | US$256.23k | 0.0037% $ 430.2k | |
| Independent Director | 4.58yrs | US$266.23k | 0.0065% $ 764.5k | |
| Independent Director | 9.58yrs | US$249.98k | 0.012% $ 1.4m | |
| Independent Director | 6.83yrs | US$249.98k | 0.0076% $ 886.1k | |
| Director | 0.33yr | no data | 0.00096% $ 112.2k |
3.8yrs
Average Tenure
62.5yo
Average Age
Experienced Board: WPC's board of directors are considered experienced (3.8 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
W. P. Carey Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: W. P. Carey Inc.
- Ticker: WPC
- Exchange: NYSE
- Founded: 1973
- Industry: Diversified REITs
- Sector: Real Estate
- Market Cap: US$11.690b
- Shares outstanding: 175.40m
- Website: https://www.wpcarey.com
Number of Employees
Location
- W. P. Carey Inc.
- One Manhattan West
- 395 9th Avenue,
- New York
- New York
- 10001
- United States
Listings
| 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 |
| WPC * | BMV (Bolsa Mexicana de Valores) | Yes | Common Stock | MX | MXN | Jan 1998 |
Biography
W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $18 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,215 ne...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/01/21 23:54 |
| End of Day Share Price | 2021/01/21 00:00 |
| Earnings | 2020/09/30 |
| Annual Earnings | 2019/12/31 |
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.