American Assets Trust, Inc. (AAT) vs W.P. Carey Inc. (WPC)

American Assets Trust, Inc. and W.P. Carey Inc. are both Reit Diversified companies. W.P. Carey Inc. is the larger, with a market value of $15.2B against $1.3B — 11.5× the size. W.P. Carey Inc. trades at the lower P/E: 22.6× against 74.4×. W.P. Carey Inc. grew revenue faster over the last twelve months: 8.96% against −2.89%. W.P. Carey Inc. has the higher net margin (36.3% vs 4.09%) and the higher return on invested capital (2.69% vs 2.37%). Both pay a dividend; W.P. Carey Inc. yields more (7.34% vs 6.57%). Across the 22 metrics below, W.P. Carey Inc. leads on 13 and American Assets Trust, Inc. on 9.

Valuation

Metric AAT WPC Reit Diversified median
P/E 74.41 22.56 23.72
P/S 2.98 8.34 3.28
P/B 1.24 1.72 0.87
Price to free cash flow 14.78 n/m 9.21
EV/EBITDA 12.49 18.22 11.57
EV/Sales 6.59 13.19 6.64
Earnings yield 1.34% 4.43% 1.04%
Free cash flow yield 6.77% (0.70%) 0.16%

Profitability

Metric AAT WPC Reit Diversified median
Gross margin 70.87% 90.20% 77.09%
Operating margin 22.77% 41.78% 33.33%
Net margin 4.09% 36.34% 2.62%
Free cash flow margin 20.16% (5.80%) 3.11%
Return on equity 1.64% 7.70% 3.13%
Return on assets 0.61% 3.55% 0.35%
Return on invested capital 2.37% 2.69% 2.80%

Growth

Metric AAT WPC Reit Diversified median
Revenue growth (TTM) (2.89%) 8.96% 5.49%
EPS growth (last fiscal year) (2.13%) 0.96% —
Revenue growth, 5-year CAGR 4.83% 7.26% 4.83%
Net income growth, 5-year CAGR 15.01% 0.48% 0.00%

Health

Metric AAT WPC Reit Diversified median
Debt to equity 1.61 1.02 1.13
Current ratio 2.46 0.22 1.47
Net debt to EBITDA 5.68 6.38 5.88

Dividend

Metric AAT WPC Reit Diversified median
Dividend yield 6.57% 7.34% 7.13%
Payout ratio 1.55 1.19 1.37

Size

Metric AAT WPC Reit Diversified median
Market cap 1.32b 15.16b 729.58m

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