secwatch.observer — SEC 8-K summary
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Issuer:     W. P. Carey Inc. (WPC)
CIK:        0001025378
Form:       8-K
Filed at:   2023-11-03T23:59:59+00:00
Accession:  0001628280-23-036559
Event type: earnings
Sentiment:  neutral
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

W. P. Carey Q3 AFFO $1.32, lowers 2023 guidance to $5.17-5.23, completes NLOP office spin-off
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- Q3 net income $125.0M ($0.58 EPS); AFFO $284.4M ($1.32/share, -2.9% YoY).
- Revenue $448.6M, up 16.9% YoY, driven by investments and CPA:18 Merger.
- 2023 AFFO guidance lowered to $5.17-$5.23; prelim 2024 guidance $4.60-$4.80, reflecting office exit plan.
- Completed NLOP spin-off Nov 1; office sale program has ~$500M under contract, targeting early 2024 completion.
- Post-quarter: settled forward equity for $384M; received ~$350M from NLOP; Q3 dividend $1.071/share paid.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1025378/000162828023036559/0001628280-23-036559-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1025378/000162828023036559/wpc-20231103.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-036559

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer