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WP Carey Inc Stock Research

WPC

78.60USD-0.52(-0.66%)Market Closed

Market Summary

USD78.60-0.52
Market Closed
-0.66%

WPC Alerts

WPC Stock Price

WPC RSI Chart

WPC Valuation

Market Cap

16.6B

Price/Earnings (Trailing)

27.63

Price/Sales (Trailing)

11.19

EV/EBITDA

17.99

Price/Free Cashflow

16.5

WPC Price/Sales (Trailing)

WPC Profitability

Operating Margin

99.83%

EBT Margin

42.34%

Return on Equity

6.66%

Return on Assets

3.31%

Free Cashflow Yield

6.06%

WPC Fundamentals

WPC Revenue

Revenue (TTM)

1.5B

Revenue Y/Y

7.4%

Revenue Q/Q

4.95%

WPC Earnings

Earnings (TTM)

599.1M

Earnings Y/Y

110.46%

Earnings Q/Q

99.7%

Price Action

52 Week Range

67.7788.33
(Low)(High)

Last 7 days

-1.5%

Last 30 days

-6.9%

Last 90 days

-1.9%

Trailing 12 Months

3.3%

WPC Financial Health

Debt/Equity

0.88

Debt/Cashflow

0.13

WPC Investor Care

Dividend Yield

5.4%

Dividend/Share (TTM)

4.24

Shares Dilution (1Y)

10.85%

Peers (Alternatives to WP Carey)

View All Peers In Detail
NameMkt Capsorted ascendingRevenuePrice %, 1MReturns, 1YP/EP/SRev 1-YrInc 1-Yr
LARGE-CAP
51.7B
4.2B
-4.61% -14.88%
11.88
12.36
22.43% 122.66%
30.0B
4.7B
-6.82% -21.36%
79.47
6.4
5.96% -77.90%
19.0B
2.2B
-4.87% -18.85%
49.6
8.5
12.10% 46.63%
16.6B
1.5B
-6.93% 3.27%
27.63
11.19
11.08% 46.14%
MID-CAP
4.7B
276.2M
-2.61% -10.96%
23.61
16.92
24.46% 126.94%
2.5B
1.8B
-20.07% -42.14%
17.13
1.43
21.05% 315.45%
2.3B
276.4M
-7.84% -53.31%
14.85
8.29
35.11% 35.44%
SMALL-CAP
1.7B
165.6M
2.05% 31.96%
18.34
9.97
6.55% 43.24%
1.6B
397.9M
-11.15% -22.59%
35.08
4.07
-6.39% -55.04%
1.3B
354.3M
-7.19% -20.96%
-25.65
3.66
3.54% -242.94%
980.3M
1.0B
-29.76% -71.46%
-59.35
0.96
14.43% -156.93%
805.0M
454.2M
-5.38% -15.87%
10.77
1.77
59.87% 241.44%
609.0M
554.3M
-20.57% -40.70%
-99.69
1.1
-3.85% 25.32%
506.0M
107.1M
-24.08% -18.30%
-6.84
4.73
-8.25% -162.69%

Financials for WP Carey

Income Statement (Last 12 Months)
(In Millions)
* denotes actual numbers (not divided by Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Revenue1.9%1,4791,4511,3931,3691,332
  S&GA Expenses3.7%89.0086.0083.0083.0082.00
Costs and Expenses4.1%867833774758727
EBITDA11.3%1,3491,2121,2201,218-
EBITDA Margin9.2%0.91*0.84*0.88*0.89*-
Earnings Before Taxes21.5%626515550545439
EBT Margin19.3%0.42*0.36*0.39*0.40*-
Interest Expenses10.3%219199188191197
Net Income22.5%599489523515410
Net Income Margin20.2%0.41*0.34*0.38*0.38*-
Free Cahsflow0.0%1,0041,004975974-
Balance Sheet
(In Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Assets1.8%18,10217,77515,45415,57015,481
    Cash Equivalents-9.9%168186104205165
  Goodwill1.4%1,0371,023891900902
Liabilities1.5%9,0938,9617,8137,8757,897
  Long Term Debt1.2%7,8787,7836,7666,7786,792
Shareholder's Equity2.2%8,9948,7997,6417,6957,582
  Additional Paid-In Capital1.7%11,70711,51010,20210,1529,978
Shares Outstanding1.2%211208193192190
Minority Interest2.1%15.0015.002.002.002.00
Cashflow (Last 12 Months)
(In Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Cashflow From Operations0.0%1,0041,004975974926
  Share Based Compensation12.4%33.0029.0028.0027.0025.00
Cashflow From Investing31.3%-1,052-1,532-1,241-1,719-1,566
Cashflow From Financing-90.6%58.00615265726557
  Dividend Payments3.1%835810799782764

Risks for WPC

What is the probability of a big loss on WPC?

30.8%


Probability that WP Carey stock will be more than 20% underwater in next one year

19.6%


Probability that WP Carey stock will be more than 30% underwater in next one year.

19.2%


Probability that WP Carey stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does WPC drawdown profile look like?

Y-axis is the maximum loss one would have experienced if WP Carey was unfortunately bought at previous high price.

Drawdowns

Returns for WPC

Cumulative Returns on WPC

7.4%


10-Year Cumulative Returns

10.0%


7-Year Cumulative Returns

10.8%


5-Year Cumulative Returns

7.9%


3-Year Cumulative Returns

What are the long-term rolling returns for WPC?

FIve years rolling returns for WP Carey.

Annualized Returns

Which funds bought or sold WPC recently?

View All Details
Datesorted ascendingFund NameType% Chg$ Change$ Held% Portfolio
2023-03-15
B. Riley Wealth Advisors, Inc.
added
2.1
413,736
3,036,740
0.09%
2023-03-10
VICTORY CAPITAL MANAGEMENT INC
added
27.33
2,677,340
8,968,340
0.01%
2023-03-08
SHEETS SMITH WEALTH MANAGEMENT
reduced
-4.08
430,455
6,256,460
0.98%
2023-03-08
Capital Asset Advisory Services LLC
reduced
-33.14
-74,030
291,970
0.02%
2023-03-06
Rockefeller Capital Management L.P.
added
14.02
236,000
1,090,000
-%
2023-03-03
Crumly & Associates Inc.
sold off
-100
-215,000
-
-%
2023-03-02
LORING WOLCOTT & COOLIDGE FIDUCIARY ADVISORS LLP/MA
new
-
808,853
808,853
0.01%
2023-03-01
BENNICAS & ASSOCIATES, INC.
unchanged
-
160,089
1,500,090
0.87%
2023-02-28
Voya Investment Management LLC
reduced
-80.6
-7,840,850
2,175,150
-%
2023-02-24
NATIXIS
sold off
-100
-18,083,000
-
-%

1–10 of 49

Latest Funds Activity

Are funds buying WPC calls or puts?
Calls
Puts
Are funds bullish or bearish(Calls - Puts)?
Net Call Options
No. of funds that own WPC
No. of Funds

WP Carey News

SavingAdvice.com

REITs Investing in Sale-Leaseback Acquisitions Counter Volatility ....

SavingAdvice.com,
7 hours ago

The Motley Fool

Seeking Alpha

Investing.com India

Schedule 13G FIlings of WP Carey

Date FiledName of FilerPercent of ClassNo. of SharesForm Type
Feb 09, 2023
vanguard group inc
14.09%
29,309,215
SC 13G/A
Jan 31, 2023
blackrock inc.
7.2%
15,004,666
SC 13G/A
Feb 01, 2022
blackrock inc.
7.6%
14,112,099
SC 13G/A
Feb 10, 2021
vanguard group inc
13.82%
24,234,545
SC 13G/A
Feb 01, 2021
blackrock inc.
7.8%
13,717,916
SC 13G/A
Feb 11, 2020
vanguard group inc
14.86%
25,600,966
SC 13G/A
Feb 06, 2020
blackrock inc.
8.8%
15,108,162
SC 13G/A

WPC Fair Value

WP Carey fair value in different scenarios

The table shows the Fair Value estimates for WP Carey for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.
Fair ValueVery PessimisticPessimisticBase CaseOptimisticVery Optimistic
Very Low Inflation

48.84

-37.86%

58.98

-24.96%

76.65

-2.48%

97.39

23.91%

115.47

46.91%
Current Inflation

45.27

-42.40%

53.82

-31.53%

68.49

-12.86%

85.68

9.01%

100.63

28.03%
Very High Inflation

40.90

-47.96%

47.63

-39.40%

58.94

-25.01%

72.20

-8.14%

83.71

6.50%

Historical WP Carey Fair Value Estimates


Very Pessimistic Case
Pessimistic Case
Fair Value
Optimistic Case
Very Optimistic Case
Closing Stock Price

Recent SEC filings of WP Carey

View All Filings
Date Filed Form Type Document
Feb 17, 2023
4
Insider Trading
Feb 17, 2023
4
Insider Trading
Feb 17, 2023
4
Insider Trading
Feb 17, 2023
4
Insider Trading
Feb 17, 2023
4
Insider Trading
Feb 10, 2023
8-K
Current Report
Feb 10, 2023
10-K
Annual Report
Feb 09, 2023
4
Insider Trading
Feb 09, 2023
4
Insider Trading
Feb 09, 2023
4
Insider Trading

Latest Insider Trading transactions for WPC

Filter Transactions
Datesorted ascendingNameBuy/Sell$ ValueAvg. Price# SharesTitle
2023-02-17
Zander Brian H
sold
-16,812
84.1376
-199
chief accounting officer
2023-02-15
Fox Jason E.
acquired
-
-
156,728
ceo
2023-02-15
PARK JOHN J
sold (taxes)
-
-
-12.00
president
2023-02-15
Zander Brian H
sold (taxes)
-27,012
83.63
-323
chief accounting officer
2023-02-15
Gordon Brooks G.
sold (taxes)
-261,344
83.63
-3,125
managing director
2023-02-15
Sanzone ToniAnn
sold (taxes)
-415,641
83.63
-4,970
cfo
2023-02-15
Fox Jason E.
sold (taxes)
-1,170
0.0142778
-82,003
ceo
2023-02-07
Sanzone ToniAnn
sold (taxes)
-8.28
0.001
-8,280
cfo
2023-02-07
Gordon Brooks G.
acquired
-
-
11,029
managing director
2023-02-07
Sabatini Gino M.
acquired
-
-
17,333
managing director

1–10 of 50

Jason E. Fox
180
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.

WPC Income Statement

2022-09-30
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Investment Management:    
Revenues$ 383,622$ 325,754$ 1,076,457$ 956,644
Operating Expenses    
Depreciation and amortization132,181115,657362,654340,327
Impairment charges — Investment Management goodwill29,334029,3340
General and administrative22,29919,75066,22462,297
Reimbursable tenant costs18,87415,09252,53845,942
Merger and other expenses17,667(908)17,329(3,983)
Property expenses, excluding reimbursable tenant costs11,24413,73436,87436,432
Operating property expenses9,3573,00115,3356,961
Stock-based compensation expense5,5114,36123,10218,790
Reimbursable costs from affiliates3441,0412,4143,050
Impairment charges — real estate016,30126,38516,301
Total operating expenses246,811188,029632,189526,117
Other Income and Expenses    
Interest expense(59,022)(48,731)(151,492)(149,623)
Gain on change in control of interests33,931033,9310
Other gains and (losses)(15,020)49,219(1,021)15,576
Earnings (losses) from equity method investments11,3045,73523,477(4,154)
Non-operating income9,2631,28323,78310,704
(Loss) gain on sale of real estate, net(4,736)1,70237,63130,914
Total other income and expenses(24,280)9,208(33,691)(96,583)
Income before income taxes112,531146,933410,577333,944
Provision for income taxes(8,263)(8,347)(21,598)(23,434)
Net Income104,268138,586388,979310,510
Net loss (income) attributable to noncontrolling interests660(39)622(84)
Net Income Attributable to W. P. Carey$ 104,928$ 138,547$ 389,601$ 310,426
Basic earnings per share (usd per share)$ 0.52$ 0.75$ 1.98$ 1.72
Diluted earnings per share (usd per share)$ 0.51$ 0.74$ 1.98$ 1.71
Weighted-Average Shares Outstanding    
Basic (in shares)203,093,553185,422,639196,382,433180,753,115
Diluted (in shares)204,098,116186,012,478197,264,509181,323,128
Real Estate    
Real Estate:    
Lease revenues$ 331,902$ 298,616$ 953,981$ 872,345
Income from direct financing leases and loans receivable20,63716,75456,79451,917
Operating property revenues21,3504,05030,2799,474
Lease termination income and other8,1921,42124,9058,066
Investment Management:    
Operating property revenues21,3504,05030,2799,474
Revenues382,081320,8411,065,959941,802
Operating Expenses    
Depreciation and amortization132,181115,657362,654340,327
Impairment charges — Investment Management goodwill  0 
General and administrative22,29919,75066,22462,297
Reimbursable tenant costs18,87415,09252,53845,942
Merger and other expenses17,667(908)17,326(3,998)
Property expenses, excluding reimbursable tenant costs11,24413,73436,87436,432
Operating property expenses9,3573,00115,3356,961
Stock-based compensation expense5,5114,36123,10218,790
Impairment charges — real estate016,30126,38516,301
Total operating expenses217,133186,988600,438523,052
Other Income and Expenses    
Interest expense(59,022)(48,731)(151,492)(149,623)
Gain on change in control of interests11,405011,4050
Other gains and (losses)(13,960)48,17230313,455
Earnings (losses) from equity method investments6,4472,44510,189(10,528)
Non-operating income9,2641,28323,78110,620
(Loss) gain on sale of real estate, net(4,736)1,70237,63130,914
Total other income and expenses(50,602)4,871(68,183)(105,162)
Income before income taxes114,346138,724397,338313,588
Provision for income taxes(3,631)(7,827)(16,499)(23,372)
Net Income110,715130,897380,839290,216
Net loss (income) attributable to noncontrolling interests660(39)622(84)
Net Income Attributable to W. P. Carey111,375130,858381,461290,132
Investment Management    
Investment Management:    
Revenues1,5414,91310,49814,842
Operating Expenses    
Impairment charges — Investment Management goodwill29,334029,3340
Merger and other expenses00315
Reimbursable costs from affiliates3441,0412,4143,050
Total operating expenses29,6781,04131,7513,065
Other Income and Expenses    
Gain on change in control of interests22,526022,5260
Other gains and (losses)(1,060)1,047(1,324)2,121
Earnings (losses) from equity method investments4,8573,29013,2886,374
Non-operating income(1)0284
Total other income and expenses26,3224,33734,4928,579
Income before income taxes(1,815)8,20913,23920,356
Provision for income taxes(4,632)(520)(5,099)(62)
Net Income Attributable to W. P. Carey(6,447)7,6898,14020,294
Investment Management | Asset management and other revenue    
Real Estate:    
Operating property revenues1,1973,8728,08411,792
Investment Management:    
Operating property revenues1,1973,8728,08411,792
Investment Management | Reimbursable costs from affiliates    
Real Estate:    
Operating property revenues3441,0412,4143,050
Investment Management:    
Operating property revenues$ 344$ 1,041$ 2,414$ 3,050

WPC Balance Sheet

2022-09-30
CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Sep. 30, 2022
Dec. 31, 2021
Investments in real estate:  
Land, buildings and improvements — net lease and other$ 12,862,423$ 11,791,734
Land, buildings and improvements — operating properties1,084,52483,673
Net investments in direct financing leases and loans receivable781,345813,577
In-place lease intangible assets and other2,578,2362,386,000
Above-market rent intangible assets840,943843,410
Investments in real estate18,147,47115,918,394
Accumulated depreciation and amortization(3,065,161)(2,889,294)
Assets held for sale, net38,5788,269
Net investments in real estate15,120,88813,037,369
Equity method investments297,665356,637
Cash and cash equivalents186,417165,427
Due from affiliates6021,826
Other assets, net1,146,0991,017,842
Goodwill1,023,171901,529
Total assets[1]17,774,84215,480,630
Debt:  
Senior unsecured notes, net5,651,8655,701,913
Unsecured term loans, net506,004310,583
Unsecured revolving credit facility462,660410,596
Non-recourse mortgages, net1,162,814368,524
Debt, net7,783,3436,791,616
Accounts payable, accrued expenses and other liabilities594,139572,846
Below-market rent and other intangible liabilities, net184,885183,286
Deferred income taxes174,276145,572
Dividends payable224,302203,859
Total liabilities[1]8,960,9457,897,179
Commitments and contingencies (Note 12)
Preferred stock, $0.001 par value, 50,000,000 shares authorized; none issued00
Common stock, $0.001 par value, 450,000,000 shares authorized; 208,032,718 and 190,013,751 shares, respectively, issued and outstanding208190
Additional paid-in capital11,510,3039,977,686
Distributions in excess of accumulated earnings(2,470,261)(2,224,231)
Deferred compensation obligation57,01249,810
Accumulated other comprehensive loss(298,057)(221,670)
Total stockholders’ equity8,799,2057,581,785
Noncontrolling interests14,6921,666
Total equity8,813,8977,583,451
Total liabilities and equity$ 17,774,842$ 15,480,630
[1]See Note 2 for details related to variable interest entities (“VIEs”).