W. P. Carey Inc. (NYSE:WPC) posts 1Q18 numbers; Tops Estimate

W. P. Carey Inc. (NYSE:WPC) reported net income for the first quarter of $ 65.27 million or $ 0.60 per share, compared to income of $ 57.48 million or $ 0.53 per share for the year-ago quarter.

The company reported first quarter adjusted adjusted funds from operations of $ 138.37 million or $ 1.28 per share.

The topline results for the first quarter rose 5% to $ 177.59 million from $ 168.74 million in the same quarter last year.

Analysts polled by Thomson Reuters expected W. P. Carey Inc. to report income of $ 0.53 per share on revenue of $ 170.81 million for the first quarter.

For the 2018 first quarter, we generated AFFO per diluted share of $1.28, up 2.4% from the same period last year, and we are affirming our full year guidance range of between $5.30 and $5.50 per diluted share based on the current strength of our pipeline and the breadth of opportunities available to us, said Jason Fox, Chief Executive Officer of W. P. Carey.

Looking ahead, the company issues full year earnings outlook in a range of $5.30 to $5.50 per diluted share.

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