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.
W. P. Carey Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||US$76.22|
|52 Week High||US$60.68|
|52 Week Low||US$82.37|
|1 Month Change||-0.53%|
|3 Month Change||-1.69%|
|1 Year Change||19.67%|
|3 Year Change||18.70%|
|5 Year Change||16.56%|
|Change since IPO||244.50%|
Recent News & Updates
W. P. Carey: 3 Reasons Why Now Is One Of The Best Times Ever To Buy
WPC has recently pulled back from 52-week highs on news of management aggressively issuing new equity. We believe this creates an attractive buying opportunity for investors. We detail 3 reasons why in this article.
W. P. Carey: 5 Pros, 5 Cons, 1 Conclusion
W. P. Carey is a well-diversified REIT that is often revered by income investors for its big growing dividend (it currently yields 5.4%). However, the shares are not without risks. In this report, we review 5 W. P. Carey pros, 5 cons, and then conclude with our opinion on investing.
W. P. Carey: To Cut The Dividend Or Not
W. P. Carey is quite beloved by authors on Seeking Alpha. Yet in reality they are neither mature nor stabilized and their payout ratio remains dangerously high. This article examines how they got where they are, how they may avoid a dividend cut, and their potential for growth. This article shows why I have a hard time deciding whether they will be an OK investment or a great one. The risks are not zero either.
|WPC||US REITs||US Market|
Return vs Industry: WPC underperformed the US REITs industry which returned 39.9% over the past year.
Return vs Market: WPC underperformed the US Market which returned 36.2% over the past year.
Stable Share Price: WPC is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 2% a week.
Volatility Over Time: WPC's weekly volatility (2%) has been stable over the past year.
About the Company
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. For nearly five 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.
W. P. Carey Fundamentals Summary
|WPC fundamental statistics|
Is WPC overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|WPC income statement (TTM)|
|Cost of Revenue||US$52.29m|
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
|Earnings per share (EPS)||2.57|
|Net Profit Margin||35.84%|
How did WPC perform over the long term?See historical performance and comparison
5.5%Current Dividend Yield
Does WPC pay a reliable dividends?See WPC dividend history and benchmarks
|W. P. Carey dividend dates|
|Ex Dividend Date||Sep 29 2021|
|Dividend Pay Date||Oct 15 2021|
|Days until Ex dividend||5 days|
|Days until Dividend pay date||21 days|
Does WPC pay a reliable dividends?See WPC dividend history and benchmarks
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 ($76.22) is trading below our estimate of fair value ($142.75)
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 (31.7x) compared to the US REITs industry average (49.8x).
PE vs Market: WPC is poor value based on its PE Ratio (31.7x) compared to the US market (17.7x).
Price to Earnings Growth Ratio
PEG Ratio: WPC is poor value based on its PEG Ratio (2.6x)
Price to Book Ratio
PB vs Industry: WPC's PB Ratio (2x) is in line with the US REITs industry average.
How is W. P. Carey forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: WPC's forecast earnings growth (12.2% per year) is above the savings rate (2%).
Earnings vs Market: WPC's earnings (12.2% per year) are forecast to grow slower than the US market (14.9% per year).
High Growth Earnings: WPC's earnings are forecast to grow, but not significantly.
Revenue vs Market: WPC's revenue (7% per year) is forecast to grow slower than the US market (9.8% per year).
High Growth Revenue: WPC's revenue (7% 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 (9.3%).
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 (35.8%) are higher than last year (28.9%).
Past Earnings Growth Analysis
Earnings Trend: WPC's earnings have grown by 13.1% per year over the past 5 years.
Accelerating Growth: WPC's earnings growth over the past year (33.3%) exceeds its 5-year average (13.1% per year).
Earnings vs Industry: WPC earnings growth over the past year (33.3%) exceeded the REITs industry 3.9%.
Return on Equity
High ROE: WPC's Return on Equity (6.2%) is considered low.
How is W. P. Carey's financial position?
Financial Position Analysis
Short Term Liabilities: WPC's short term assets ($935.8M) exceed its short term liabilities ($767.4M).
Long Term Liabilities: WPC's short term assets ($935.8M) do not cover its long term liabilities ($7.2B).
Debt to Equity History and Analysis
Debt Level: WPC's debt to equity ratio (93.4%) is considered high.
Reducing Debt: WPC's debt to equity ratio has reduced from 134.1% to 93.4% over the past 5 years.
Debt Coverage: WPC's debt is not well covered by operating cash flow (12.6%).
Interest Coverage: WPC's interest payments on its debt are well covered by EBIT (3.2x coverage).
What is W. P. Carey current dividend yield, its reliability and sustainability?
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: WPC's dividend (5.52%) is higher than the bottom 25% of dividend payers in the US market (1.35%).
High Dividend: WPC's dividend (5.52%) is in the top 25% of dividend payers in the US market (3.63%)
Stability and Growth of Payments
Stable Dividend: WPC's dividends per share have been stable in the past 10 years.
Growing Dividend: WPC's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (90.8%), WPC's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: WPC's dividends in 3 years are forecast to be covered by earnings (87.5% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Jason Fox (48 yo)
Mr. Jason E. Fox has been Chief Executive Officer, President and Director of Corporate Property Associates 18 - Global Incorporated since January 1, 2018. Mr. Fox serves as the Chief Executive Officer of W...
CEO Compensation Analysis
Compensation vs Market: Jason's total compensation ($USD7.41M) is below average for companies of similar size in the US market ($USD11.36M).
Compensation vs Earnings: Jason's compensation has been consistent with company performance over the past year.
Experienced Management: WPC's management team is considered experienced (4.5 years average tenure).
Experienced Board: WPC's board of directors are considered experienced (4.5 years average tenure).
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.
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 8.9%.
W. P. Carey Inc.'s 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$14.512b
- Shares outstanding: 189.45m
- Website: https://www.wpcarey.com
Number of Employees
- W. P. Carey Inc.
- One Manhattan West
- 395 9th Avenue,
- New York
- New York
- United States
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/09/23 22:53|
|End of Day Share Price||2021/09/23 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.