W.P. Carey reports Q1 AFFO $1.14, consensus $1.19

Reports Q1 revenue $389.79M, consensus $397.59M. “We’ve had a productive start to the year, closing $375M of investments and building a strong deal pipeline, which positions us well in relation to our investment guidance,” said Jason Fox, CEO of W. P. Carey. “We also made excellent progress toward completing our office exit strategy and addressing recent tenant-specific issues, further strengthening our well-diversified portfolio. We believe that we have a distinct advantage both in terms of deploying the substantial capital we’ve amassed into new investments and the strength of our rent escalations, putting us on a path to generate future growth based off the new baseline AFFO set in 2024.”