W. P. Carey Q1 net income $294.4M, AFFO $1.31/sh; guidance reaffirmed, dividend raised

W. P. Carey Inc.

Net income $294.4M ($1.39 EPS), up 87.5% YoY; included $176.2M gain from U-Haul repurchase option.
AFFO per diluted share $1.31, down 3% YoY; full-year AFFO guidance maintained at $5.30-$5.40.
Revenue $427.8M, up 22.8% YoY; contractual same-store rent growth 4.3%.
Quarterly dividend raised to $1.067/sh (annualized $4.27); paid April 14.
Closed €500M term loan post-quarter, swapped to fixed 4.34% through end-2024; $385M forward equity available.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

W. P. Carey Inc. reported the quarter ended March 31, 2023 results: revenue $427.8 million, net income $294.4 million, EPS $1.39. Guidance reaffirmed.

Period: the quarter ended March 31, 2023
Revenue: $427.8 million
Net income: $294.4 million
EPS: $1.39
Guidance: reaffirmed
Result: reported results

Exact text from the filing

P. Carey Inc. 3/31/2023 Earnings Release 8-K – 1 QUARTERLY FINANCIAL RESULTS Revenues • Total Company: Revenues, including reimbursable costs, for the 2023 first quarter totaled $427.8 million, up 22.8% from $348.4 million for the 2022 first quarter. • Real Estate: Real Estate revenues, including reimbursable costs, for the 2023 first quarter were $427.4 million, up

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Source: SEC EDGAR

accession 0001025378-23-000079

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