W. P. Carey (WPC) Reports Q3 EPS of $0.71, Revenues Beat

W. P. Carey (NYSE: WPC) reported Q3 EPS of $0.71. Revenue for the quarter came in at $209.38 million versus the consensus estimate of $194.89 million.

• Net income attributable to W. P. Carey of $77.3 million, or $0.71 per diluted share
• AFFO of $159.8 million, or $1.48 per diluted share
• 2018 AFFO guidance range adjusted to between $5.34 and $5.44 per diluted share, reflecting the earlier-than-anticipated completion of the Company's merger with CPA:17
• Quarterly cash dividend raised to $1.025 per share, equivalent to an annualized dividend rate of $4.10 per share
• Completed merger with CPA:17 in a $5.9 billion stock-for-stock transaction on October 31, 2018

"Through a combination of single-asset and portfolio acquisitions, as well as discretionary investments with existing tenants, we remain on track with our expectations for full-year investment volume, despite competitive market conditions," said Jason Fox, Chief Executive Officer of W. P. Carey. "Strong same-store rent growth flowed through to our earnings and we remain well-positioned for a continued inflationary environment. Furthermore, with the closing of our merger, we have enhanced both our portfolio and strategic position."

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

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