W. P. Carey Q3 Adj. FFO Increases; Raises Guidance

(RTTNews) - W. P. Carey Inc. (WPC) reported that its third quarter net income to company declined to $104.9 million or $0.51 per share from $138.6 million or $0.74 per share, prior year. Net income from Real Estate attributable to W. P. Carey was $111.4 million, for the quarter.

Adjusted FFO was $1.36 per share, up 9.7% from $1.24 per share, last year, driven by the company's Real Estate segment, which generated AFFO of $1.34 per share.

Third quarter revenues, including reimbursable costs, were $383.6 million, up 17.7% from a year ago.

For 2022, the company has raised its guidance for total AFFO and narrowed the range to between $5.25 and $5.31 per share, including Real Estate AFFO of between $5.16 and $5.22 per share.

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