W. P. Carey Issues FY20 Earnings Guidance - Quick Facts

(RTTNews) - W. P. Carey Inc. (WPC) announced fiscal 2020 AFFO guidance range of $4.86 to $5.01 per share, including Real Estate AFFO of between $4.74 and $4.89 per share.

Fourth-quarter AFFO per share was $1.28, down 3.8% from $1.33, a year ago. Real Estate AFFO per share was $1.21 compared to $1.12, last year. Real Estate AFFO increased, due primarily to the accretive impact of properties acquired in the CPA:17 merger and net acquisitions, partly offset by the dilutive impact of shares issued through the company's ATM program.

Fourth-quarter total company revenues, including reimbursable costs, were $311.2 million, up 13.8% from $273.4 million, prior year. Real Estate revenues, including reimbursable costs, were $296.4 million, up 19.4% from $248.3 million, last year, due primarily to additional lease revenues from properties acquired in the merger with CPA:17 and net acquisitions.