W.P. Carey Q2 Profit Attributable Increases, Affirms AFFO View Of FY17

(RTTNews) - W.P. Carey Inc. (WPC) Friday announced second quarter net income attributable to the company of $64.3 million or $0.59 per share compared to $51.7 million or $0.53 per share last year. Adjusted FFO for the quarter was $148.4 million or $.138 per share, up 11.3 percent from $1.24 per share a year ago.

Net revenue for the quarter was $202.7 million, up 2 percent from $198.8 million last year. Net revenue from owned real estate was down 4.4 percent to $168.7 million from $176.4 million a year ago.

Looking ahead to 2017, the company affirmed its AFFO guidance in a range of $5.10 to $5.30 per share.