W. P. Carey Backs Annual Adj. FFO Guidance

W.P. Carey

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(RTTNews) - W. P. Carey Inc. (WPC), a real estate investment trust, on Tuesday reaffirmed annual guidance for adjusted funds from operations, or AFFO, investment volume, disposition volume, and rent loss from tenant credit events.

For the first quarter, W. P. Carey completed investments of around $275 million, primarily comprising sale-leasebacks of industrial properties. In addition, the company currently has capital investments and commitments of approximately $120 million scheduled to be completed this year.

For the full-year 2025, the firm has reaffirmed its investment volume guidance of $1 to $1.5 billion.

For the first quarter, the company completed dispositions with gross proceeds of around $130 million.

For the full-year 2025, WPC continues to expect to fund new investments with gross disposition proceeds of $500 million to $1 billion. The majority of which is expected to comprise accretive non-core asset sales, primarily of self-storage operating properties.

The company still projects annual rent loss from tenant credit events in the range of $15 to $20 million.

W. P. Carey still expects annual AFFO of $4.82 to $4.92 per share, based on the above assumptions for investment volume, disposition volume, and expected rent loss from tenant credit events.

For the full-year 2024, the company had registered AFFO of $4.70 per share.