W.P. Carey Revenue Beats Consensus And Hypes Sale-Leaseback Trend, Narrows Outlook
Portfolio Pulse from Lekha Gupta
W.P. Carey Inc (WPC) reported a Q2 2023 revenue increase of 31.4% Y/Y to $452.6 million, beating the consensus of $442.4 million. Real Estate revenues rose 33.1% Y/Y to $452.2 million. The company raised the quarterly dividend per share to $1.069 from $1.067 in the prior quarter. WPC narrowed AFFO per share guidance to $5.32 and $5.38 from $5.30-$5.40 in 2023. WPC shares are trading higher by 0.03% at $71.39.
July 28, 2023 | 4:37 pm
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W.P. Carey reported higher than expected Q2 2023 revenues and raised its dividend, which could positively impact its stock price.
W.P. Carey's higher than expected revenues and increased dividend indicate strong financial performance, which is likely to make the stock more attractive to investors, potentially driving up its price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100