W. P. Carey Inc. Q4 Profit Decreases, but beats estimates

(RTTNews) - W. P. Carey Inc. (WPC) released a profit for fourth quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $99.56 million, or $0.53 per share. This compares with $134.57 million, or $0.76 per share, in last year's fourth quarter.

Excluding items, W. P. Carey Inc. reported adjusted earnings of $245.61 million or $1.30 per share for the period.

Analysts on average had expected the company to earn $0.52 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 22.5% to $370.32 million from $302.37 million last year.

W. P. Carey Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $99.56 Mln. vs. $134.57 Mln. last year. -EPS (Q4): $0.53 vs. $0.76 last year. -Analyst Estimates: $0.52 -Revenue (Q4): $370.32 Mln vs. $302.37 Mln last year.