W. P. Carey Reports Q1 AFFO/shr Of $1.22; Reaffirms 2015 AFFO Guidance Range

(RTTNews) - W. P. Carey Inc. (WPC), a global net lease real estate investment trust, reported first-quarter net income to company of $36.1 million or $0.34 per share, compared to $115.5 million or $1.27 per share, prior year. FFO (as defined by NAREIT) per share was $0.94 compared to $1.79. AFFO for the first quarter was $1.22 per share. Real Estate revenue increased to $176.43 million from $135.26 million last year. Total revenues were $220.39 million, compared to $209.20 million, prior year. Revenues excluding reimbursable costs (net revenues) totaled $204.8 million, an increase of 25.3% from $163.4 million, prior year, due primarily to additional lease revenues from properties acquired in the company's merger with CPA:16 - Global.

For the 2015 full year, the company continues to expect to report AFFO of between $4.76 and $5.02 per share.