WASHINGTON (dpa-AFX) - W. P. Carey Inc. (WPC) Tuesday reported fourth-quarter net income of $47.0 million or $0.21 per share, down from $144.3 million or $0.66 per share last year.
Profit for the quarter dropped primarily due to lower gain on sale of real estate and a mark-to-market loss recognized on the company's shares of Lineage of $90.4 million during the current-year period, partly offset by lower impairment charges.
AFFO for the fourth quarter was $1.21 per share, up from $1.19 per share for the 2023 fourth quarter.
Revenues, including reimbursable costs, for the fourth quarter totaled $406.2 million, down 1.5% from $412.4 million for the 2023 fourth quarter.
For the 2025 full year, the company expects to report AFFO of between $4.82 and $4.92 per share.
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