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Mar 31, 2020
WP Carey Q1 2020 Earnings Report
W. P. Carey reported financial results for Q1 2020, showing an increase in revenue and AFFO per share, but withdrew 2020 AFFO guidance due to COVID-19 uncertainties.
Key Takeaways
W. P. Carey's first quarter 2020 results showed growth in revenue and AFFO per share. The company's real estate segment drove the overall AFFO increase, while the investment management segment experienced a decline. Due to uncertainties related to COVID-19, the company withdrew its 2020 AFFO guidance.
Net income attributable to W. P. Carey was $66.1 million, or $0.38 per diluted share.
AFFO was $216.5 million, or $1.25 per diluted share.
The quarterly cash dividend was raised to $1.04 per share, equivalent to an annualized dividend rate of $4.16 per share.
2020 AFFO guidance was withdrawn due to uncertainties related to COVID-19.
WP Carey
WP Carey
WP Carey Revenue by Segment
Revenue by Segment
Lease Revenue
CapyFin.comOperating property rev Revenue
CapyFin.comAsset management rev Revenue
CapyFin.com Forward Guidance
W. P. Carey withdrew its previous 2020 AFFO guidance due to significant uncertainty and economic disruption related to COVID-19.