How do you interpret investment management — dealer manager feesand expenses?

Higher costs may indicate aggressive distribution efforts or increased sales volume, while lower costs may reflect reduced distribution activity.

How does investment management — dealer manager feesand expenses compare across companies?

Similar to 'Distribution Fees' or 'Selling Expenses' found in the financial reports of REITs with external investment management arms.

W.P. Carey Inc. WPC Investment Management — Dealer Manager Feesand Expenses

Discontinued — last reported Q4 '19

Similar metrics at other companies

TROWDistribution and servicing costs

$99.3M+6.1%

AMPAsset Management — Distribution expenses

$262M+6.5%

STWDOperating Segments And Corporate Non — Management Fees

$26.41M-14.5%

BEN

BENSales and distribution fees — Operating revenues by geographic area

$396.6M+8.7%

EQHWealth Management — Expense related to distribution fees

$238M+9.2%

STWDCommercial and Residential Lending Segment — Management fees

$32K-82.2%

Other financials

Income statement

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Revenue$454.5M+10.9%

Gross profit$412.4M+2.5%

Net income$176.3M+40.1%

EPS (diluted)$0.80+40.4%

Balance sheet

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Cash & equivalents$287.7M+32.2%

Total debt$9.3B+5.5%

Total equity$8.3B-0.2%

Total assets$18.2B+5.2%

Cash flow

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Operating cash flow$283.2M+3.7%

Valuation

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Market cap$15.86B+7.8%

Enterprise value$24.91B+6.7%

P/E30.7×-3.7×

P/S9×-0.2×

Profitability

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Gross margin100%+0.1pp

Net margin29.3%+2.7pp

FCF margin62.2%—

Returns & leverage

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Return on equity6.2%+1.2pp

Debt / equity1.1×+0.1×

Where this comes from

Reported directly by W.P. Carey Inc. in its filing.

Tagged under the XBRL concept wpc:DealerManagerFeesandExpenses.

The official record: W.P. Carey Inc.’s 10-K, filed February 21, 2020, on SEC EDGAR. View the filing →

Questions, answered.

What does investment management — dealer manager feesand expenses mean?: Fees paid to third-party distributors to sell investment management products.
How do you interpret investment management — dealer manager feesand expenses?: Higher costs may indicate aggressive distribution efforts or increased sales volume, while lower costs may reflect reduced distribution activity.
How does investment management — dealer manager feesand expenses compare across companies?: Similar to 'Distribution Fees' or 'Selling Expenses' found in the financial reports of REITs with external investment management arms.