WP Carey Q4 2022 Earnings Report
Key Takeaways
W. P. Carey Inc. reported strong full-year results, with Real Estate AFFO per share growth of 6.3%. In the fourth quarter, the company completed investments totaling $158.5 million and disposed of six properties for gross proceeds of $67.6 million. The company announced 2023 AFFO guidance range of between $5.30 and $5.40 per diluted share.
Investment volume of $158.5 million completed during the fourth quarter, bringing total investment volume for 2022 to $1.4 billion.
Gross disposition proceeds of $67.6 million during the fourth quarter, bringing total dispositions for 2022 to $243.7 million.
Quarterly cash dividend raised to $1.065 per share, equivalent to an annualized dividend rate of $4.260 per share.
Approximately $559 million in anticipated net proceeds currently available for settlement pursuant to forward sale agreements.
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WP Carey Revenue by Segment
Forward Guidance
For the 2023 full year, the Company expects to report total AFFO of between $5.30 and $5.40 per diluted share (all of which comprises Real Estate AFFO) based on anticipated investment volume of between $1.75 billion and $2.25 billion.