W. P. Carey Inc. Acquires EUR 23.4 Million Retail Facility Net Leased to Hornbach Baumarkt AG
Apr 20 15
W. P. Carey Inc. announced that it has acquired a retail hypermarket and garden center in Bad Fischau, Austria for €23.4 million. The property was acquired from Richardson Capital and is net leased to Hornbach Baumarkt AG. The facility will be net leased for a 15-year term with annual CPI-based rent escalations. Located roughly 48 kilometers south of Vienna in the suburban town of Bad Fischau, the facility sits on the A2 Autobahn, the major highway that runs south from Vienna to the boarder of Italy.
W. P. Carey Inc. Presents at ReitWise 2015, Apr-01-2015 11:15 AM
Mar 28 15
W. P. Carey Inc. Presents at ReitWise 2015, Apr-01-2015 11:15 AM. Venue: JW Marriott Desert Ridge Resort & Spa, Phoenix, Arizona, United States. Speakers: Adam Cohen, Executive Director-Tax.
W. P. Carey Inc. Announces Increased Quarterly Cash Dividend, Payable on April 15, 2015
Mar 19 15
W. P. Carey Inc. reported that its Board of Directors increased its quarterly cash dividend to $0.9525 per share, equivalent to an annualized dividend rate of $3.81 per share. Payable on April 15, 2015 to stockholders of record as of March 31, 2015.
W. P. Carey Inc. Reports Consolidated Financial Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the Full Year 2015
Feb 24 15
W. P. Carey Inc. reported unaudited consolidated financial results for the fourth quarter and full year ended December 31, 2014. For the quarter, revenue was $167,111,000 compared to $82,014,000 a year ago. Income from continuing operations before income taxes and gain on sale of real estate was $34,534,000 compared to $10,949,000 a year ago. Net income attributable to the company was $32,272,000 or $0.30 per diluted share compared to $23,022,000 or $0.33 per diluted share a year ago. Income from continuing operations, net of tax was $31,967,000 compared to $9,756,000 a year ago. FFO was $104,669,000 or $0.99 per diluted share compared to $45,247,000 or $0.65 per diluted share a year ago. AFFO was $125,605,000 or $1.19 per diluted share which was up 5.3% compared to $1.13 for the 2014 third quarter, and compared to $78,113,000 or $1.12 per diluted share a year ago, driven primarily by higher structuring revenue due to increased investment activity on behalf of the managed REITs.
For the year, revenue was $643,130,000 compared to $315,965,000 a year ago. Income from continuing operations before income taxes and gain on sale of real estate was $228,779,000 compared to $95,569,000 a year ago. Net income attributable to the company was $239,826,000 or $2.39 per diluted share compared to $98,876,000 or $1.41 per diluted share a year ago. Income from continuing operations, net of tax was $206,329,000 compared to $84,637,000 a year ago. FFO was $455,079,000 or $4.56 per diluted share compared to $193,966,000 or $2.78 per diluted share a year ago. AFFO was $480,466,000 or $4.81 per diluted share compared to $294,151,000 or $4.22 per diluted share a year ago, again, primarily due to the income generated from properties acquired in the company's merger with CPA:16 and partially offset by the subsequent loss of asset management fees from CPA:16.
For the 2015 full year, the company affirms that it continues to expect to report AFFO of between $4.76 and $5.02 per diluted share, based on assumed total acquisition volume of between approximately $2.4 billion and $3.1 billion, comprised of approximately $400 million to $600 million for the company's owned real estate portfolio and approximately $2.0 billion to $2.5 billion on behalf of the Managed REITs. The company expects to update its 2015 AFFO guidance in connection with the release of subsequent quarterly earnings.