2024-05-01 14:43:03 ET
WP Carey, Inc. (WPC)
Q1 2024 Earnings Conference Call
May 01, 2024, 11:00 ET
Company Participants
Peter Sands - Executive Director & Head, IR
Jason Fox - CEO & Director
Toni Sanzone - MD & CFO
Brooks Gordon - MD & Head, Asset Management
Conference Call Participants
Mitchell Germain - JMP Securities
James Kammert - Evercore ISI
Anthony Paolone - JPMorgan Chase & Co.
Harsh Hemnani - Green Street Advisors
Nicholas Joseph - Citigroup
Brendan Lynch - Barclays Bank
Eric Borden - BMO Capital Markets
Greg McGinniss - Scotiabank
Presentation
Operator
Hello, and welcome to W. P. Carey's First Quarter 2024 Earnings Conference Call. My name is Diego, and I will be your operator today. [Operator Instructions].
I will now turn today's program over to Peter Sands, Head of Investor Relations. Mr. Sands, please go ahead.
Peter Sands
Good morning, everyone, and thank you for joining us this morning for our 2024 First Quarter Earnings Call. Before we begin, I would like to remind everyone that some of the statements made on this call are not historic facts and may be deemed forward-looking statements.
Factors that could cause actual results to differ materially from W. P. Carey's expectations are provided in our SEC filings. An online replay of this conference call will be made available in the Investor Relations section of our website at wpcarey.com, where it will be archived for approximately 1 year and where you can also find copies of our investor presentations and other related materials. And with that, I'll hand the call over to our Chief Executive Officer, Jason Fox.
Jason Fox
Thank you, Peter, and good morning, everyone. Today, I'll focus my remarks on our recent investment activity and the current strength of our pipeline as well as touch upon how we're positioned in our outlook. As usual, I'm joined by our CFO, Toni Sanzone, will cover our first quarter results and balance sheet as well as our recent asset management activities. We have John Park, our President; and Brooks Gordon, our Head of Asset Management on the call to take questions.
Starting with investment activity. Year-to-date, we've completed investments totaling $375 million, the vast majority of which were industrial properties. This comprises $280 million of investments closed during the first quarter and a $94 million acquisition completed in early April of an approximately 1.2 million square foot distribution facility, the Rickenbacker International Airport, just outside of Columbus, Ohio. ...
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WP Carey, Inc. (WPC) Q1 2024 Earnings Call Transcript