W.P. Carey Boosts FY21 AFFO Outlook - Quick Facts

(RTTNews) - While reporting its financial results for the second quarter on Friday, net lease real estate investment trust W.P. Carey Inc. (WPC) raised and narrowed its adjusted funds from operations or AFFO to a range of $4.94 to $5.02 per share, including Real Estate AFFO of between $4.82 and $4.90 per share.

Previously, the company expected or AFFO in the range of $4.87 to $4.97 per share, including Real Estate AFFO of between $4.74 and $4.84 per share.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.83 per share for the year. Analysts' estimates typically exclude special items.

The guidance primarily reflects the positive impact on rent collections as businesses recover from the initial effects of the COVID-19 pandemic and increased expectations for full year investment volume.