W.P. Carey Q2 AFFO $1.17 (-14% YoY); lowers 2024 guidance to $4.63-$4.73

W. P. Carey Inc.

Net income $142.9M, EPS $0.65; revenue $389.7M, down 13.9% YoY.
AFFO per diluted share $1.17, down 14% YoY; FY2024 AFFO guidance lowered to $4.63-$4.73.
Investment volume YTD $641M; guidance for 2024 lowered $250M to $1.25-1.75B.
Completed office exit strategy; only one office asset left under contract for sale.
Issued €650M 4.25% notes due 2032 and $400M 5.375% notes due 2034; repaid $500M and €500M maturities.

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