NEW YORK, October 27, 2019 – Shares of W. P. Carey Inc. (NYSE: WPC) lost -0.80% to $91.74. The stock grabbed the investor’s attention and traded 802.891K shares as compared to its average daily volume of 614.25K shares. The stock’s institutional ownership stands at 59.10%.
For the 2019 first quarter, W. P. Carey Inc. (WPC) reported total revenues, including reimbursable costs of $298.30M, up 47.8% from $201.80M for the 2018 first quarter.
Real Estate: Real Estate revenues, including reimbursable costs, for the 2019 first quarter were $282.20M, up 58.9% from $177.60M for the 2018 first quarter, due primarily to additional lease revenues from properties acquired in the Company’s merger with CPA:17 on October 31, 2018 (the CPA:17 Merger).
Investment Management: Investment Management revenues, including reimbursable costs, for the 2019 first quarter were $16.10M, down 33.5% from $24.20M for the 2018 first quarter, due primarily to the cessation of asset management revenue previously earned from CPA:17.
Net Income Attributable to W. P. Carey:
Net income attributable to W. P. Carey for the 2019 first quarter was $68.50M, up 4.9% from $65.30M for the 2018 first quarter. Net income from Real Estate attributable to W. P. Carey increased, due primarily to properties acquired in the CPA:17 Merger and net acquisitions. The increase in revenues from properties acquired in the CPA:17 Merger and acquisitions was partly offset by corresponding increases in depreciation and amortization, interest expense and property expenses. Net income from Investment Management attributable to W. P. Carey decreased, due primarily to the cessation of Investment Management revenues and distributions previously earned from CPA:17, partly offset by a one-time tax benefit recognized during the 2019 first quarter.
WPC has a market value of $15.72B while its EPS was booked as $2.99 in the last 12 months. The stock has 171.30M shares outstanding. In the profitability analysis, the company has gross profit margin of 87.40%. Beta value of the company was 0.46; beta is used to measure riskiness of the security. Analyst recommendation for this stock stands at 3.00.