W. P. Carey Inc. reported its financial results for the first quarter ended March 31, 2025, on April 29, 2025. The company announced net income attributable to W. P. Carey of $125.8 million, or $0.57 per diluted share. Adjusted Funds From Operations (AFFO) for the quarter increased to $257.8 million, or $1.17 per diluted share, up from $251.9 million, or $1.14 per diluted share, in Q1 2024.
Total revenues for the first quarter were $409.9 million, representing a 5.2% increase from the $389.8 million reported in the prior-year period. The company reaffirmed its full-year 2025 AFFO guidance in the range of $4.82 to $4.92 per diluted share, and its investment volume guidance of $1.0 billion to $1.5 billion. Year-to-date investments totaled $448.6 million, including $275.1 million in Q1 and $173.5 million subsequent to quarter end.
W. P. Carey maintained a contractual same-store rent growth of 2.4% year over year on a constant currency basis as of March 31, 2025. The company's liquidity stood at $2.0 billion, comprising $1.8 billion of available capacity under its credit facility and $187.8 million in cash. Management expressed confidence in funding external growth without issuing new capital this year, citing the strength of its balance sheet and portfolio resilience.
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