WP Carey Q3 2020 Earnings Report
Key Takeaways
W. P. Carey Inc. reported a net income attributable to W. P. Carey of $149.4 million, or $0.85 per diluted share, and AFFO of $202.0 million, or $1.15 per diluted share. The company reinstated its 2020 AFFO guidance with a range of $4.65 to $4.75 per diluted share and raised the quarterly cash dividend to $1.044 per share.
Net income attributable to W. P. Carey of $149.4 million, or $0.85 per diluted share.
AFFO of $202.0 million, or $1.15 per diluted share.
2020 AFFO guidance reinstated with a range of $4.65 to $4.75 per diluted share.
Quarterly cash dividend raised to $1.044 per share, equivalent to an annualized dividend rate of $4.176 per share.
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WP Carey Revenue by Segment
Forward Guidance
The Company has reinstated its guidance for the 2020 full year, and expects to report total AFFO of between $4.65 and $4.75 per diluted share, including Real Estate AFFO of between $4.51 and $4.61 per diluted share, based on the following key assumptions: (i) investments for the Company's Real Estate portfolio of between $750 million and $1 billion; (ii) dispositions from the Company's Real Estate portfolio of between $300 million and $350 million; and (iii) total general and administrative expenses of between $76 million and $79 million.