W. P. Carey (WPC) Tops Q1 EPS by 22c; offers guidance

W. P. Carey (NYSE: WPC) reported Q1 EPS of $0.72, $0.22 better than the analyst estimate of $0.50. Revenue for the quarter came in at $389.8 million versus the consensus estimate of $383.68 million.

AFFO GUIDANCE

2024 AFFO Guidance

For the 2024 full year, the Company affirms its expectation that it will report AFFO of between $4.65 and $4.75 per diluted share, based on the following key assumptions, which are substantially unchanged:

(i) investment volume of between $1.5 billion and $2.0 billion;

(ii) disposition volume of between $1.2 billion and $1.4 billion, including:
(a) substantial completion of the Company\'s strategic plan to exit office, including anticipated asset sales under the Office Sale Program totaling between $550 million and $600 million during the first half of 2024;

(b) completion of the U-Haul purchase option during the 2024 first quarter, which generated gross proceeds of $464 million; and

(c) other dispositions totaling between $150 million and $350 million; and

(iii) total general and administrative expenses of between $100 million and $103 million.

For earnings history and earnings-related data on W. P. Carey (WPC) click here.

You May Also Be Interested In

• Evercose ISI downgrades Reddit, says monetization may not offset traffic weakness
• Freedom Broker Upgrades Garrett Motion (GTX) to Buy
• enVVeno Medical (NVNO) Misses Q3 EPS by 302c