W.P. Carey reaffirms FY24 AFFO view $4.65-$4.75, consensus $4.73

Sees FY24 investment volume $1.5B-$2.0B; disposition volume $1.2B-$1.4B, including substantial completion of the Company’s strategic plan to exit office, including anticipated asset sales under the Office Sale Program totaling $550M-$600M during the first half of 2024; completion of the U-Haul purchase option during the Q1, which generated gross proceeds of $464M; and other dispositions totaling between $150M-$350M; and total general and administrative expenses of between $100M-$103M.