W. P. Carey (WPC) Tops Q2 EPS by 16c, Revenues Miss

W. P. Carey (NYSE: WPC) reported Q2 EPS of $0.61, $0.16 better than the analyst estimate of $0.45.

• Net income attributable to W. P. Carey of $105.3 million, or $0.61 per diluted share
• AFFO of $197.9 million, or $1.14 per diluted share
• Quarterly cash dividend raised to $1.042 per share, equivalent to an annualized dividend rate of $4.168 per share
• 2020 AFFO guidance remains withdrawn

MANAGEMENT COMMENTARY

"Our second quarter results reflect the consistently strong rent collections we achieved throughout the period, which have continued into July, and are a direct result of our disciplined investment process and diversified approach," said Jason Fox, Chief Executive Officer of W. P. Carey. "With substantial liquidity, enhanced by the equity forward we successfully completed in June, we're ideally positioned and motivated to dial up investment activity in the second half of the year."

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

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