2023-11-03 07:33:03 ET
- W. P. Carey press release ( NYSE: WPC ): Q3 FFO of $1.32 in-line.
- Revenue of $448.6M (+16.9% Y/Y) misses by $1.43M .
- Outlook: 2023 AFFO guidance range lowered and narrowed to between $5.17 and $5.23 per diluted share vs. consensus of $5.18, primarily reflecting execution of the Company's strategic plan to exit office and anticipated full year investment volume of between $1.3 billion and $1.5 billion
- Preliminary 2024 AFFO guidance of between $4.60 and $4.80 per diluted share vs. consensus of $4.88, based primarily on completion of the Company's strategic plan to exit office, assumed full year investment volume of $1.5 billion and capital inflows totaling an estimated $2 billion over the near term
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W. P. Carey reports mixed Q3 earnings; narrows FY23 and initiates FY24 outlook