NYSE$WPC
WP Carey Inc · Q1 2021 earnings
Q1 2021 earnings · · Investor relations
Briefing
W. P. Carey reported financial results for the first quarter ended March 31, 2021.
W. P. Carey reported a strong start to the year with significant investment activity, leading to raised guidance. Debt issuances locked in the lowest ever coupon rates in both the U.S. and Europe. The company is poised to accelerate externally driven growth with a strong pipeline and a well-positioned net lease portfolio for embedded rent growth.
- AFFO guidance range raised and narrowed to $4.87 to $4.97 per diluted share, including Real Estate AFFO of between $4.74 and $4.84 per diluted share.
- Quarterly cash dividend raised to $1.048 per share, equivalent to an annualized dividend rate of $4.192 per share.
- Investment volume of $399.9 million year to date, including $213.8 million during the first quarter and $186.1 million subsequent to quarter end.
- Overall collection rate of 98% for 2021 first quarter rent due.
Headline financials
Revenue & EPS history
WP Carey · Revenue · Quarterly
$311M
Revenue by segment
WP Carey · $308M total across 3 segments · Q1 2021
- Lease revenues$302M+7.0%98.0%
- Asset management revenue$3.95M-60.0%1.3%
- Operating property revenues$2.18M-63.5%0.7%
Forward guidance
The Company has raised and narrowed its guidance range for the 2021 full year and currently expects to report total AFFO of between $4.87 and $4.97 per diluted share, including Real Estate AFFO of between $4.74 and $4.84 per diluted share, based on the following key assumptions:
Tailwinds
- Investments for the Company's Real Estate portfolio of between $1.25 billion and $1.75 billion, which has been revised higher
- Dispositions from the Company's Real Estate portfolio of between $250 million and $350 million, which is unchanged
- Total general and administrative expenses of between $79 million and $83 million, which is unchanged
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2021
-0.2%
Avg return
Earnings day
-0.7%
Avg return
5 days after
-0.1%
Avg return
30 days after
47%
32 / 68 earnings
Positive
+10.4%
Q2 2011
Best reaction
-8.5%
Q1 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.8% | -0.3% | +2.4% | |
| Q4 2025 | -0.4% | +2.2% | -1.5% | |
| Q3 2025 | +0.1% | -0.3% | +1.9% | |
| Q1 2025 | +2.1% | +0.6% | +2.6% | |
| Q4 2024 | +2.8% | +4.5% | +11.6% | |
| Q3 2024 | -2.2% | -4.1% | +0.1% | |
| Q2 2024 | -5.1% | -6.0% | -2.8% | |
| Q1 2024 | -1.9% | +1.8% | +0.7% | |
| Q4 2023 | -7.3% | -9.0% | -6.2% | |
| Q3 2023 | -1.9% | -1.0% | +14.4% | |
| Q2 2023 | -5.4% | -6.6% | -9.8% | |
| Q1 2023 | +0.5% | -2.5% | -7.3% | |
| Q4 2022 | +4.9% | +3.2% | -3.3% | |
| Q3 2022 | +4.0% | +4.5% | +9.2% | |
| Q2 2022 | +3.1% | +0.1% | +1.1% | |
| Q1 2022 | -8.5% | -7.1% | -0.8% | |
| Q4 2021 | +2.0% | +3.1% | +7.2% | |
| Q3 2021 | -1.5% | -1.4% | -2.9% | |
| Q2 2021 | -1.2% | -1.2% | -4.0% | |
| Q1 2021 | +3.1% | +1.1% | +2.8% | |
| Q4 2020 | +0.2% | -0.6% | +0.3% | |
| Q3 2020 | +2.9% | +5.7% | +12.5% | |
| Q2 2020 | -0.5% | +0.3% | +1.7% | |
| Q1 2020 | -7.3% | -10.2% | -8.9% | |
| Q4 2019 | +4.0% | +2.1% | -41.8% | |
| Q3 2019 | -3.8% | -6.4% | -9.4% | |
| Q2 2019 | -4.0% | -1.0% | +3.3% | |
| Q1 2019 | -0.5% | -2.1% | +4.7% | |
| Q4 2018 | -0.3% | -1.2% | +4.5% | |
| Q3 2018 | -0.3% | +0.3% | +4.4% | |
| Q2 2018 | +0.2% | -0.1% | +1.5% | |
| Q1 2018 | +3.1% | +3.8% | +5.8% | |
| Q4 2017 | +1.7% | -0.1% | +1.0% | |
| Q3 2017 | +2.0% | +4.0% | +3.8% | |
| Q2 2017 | -0.1% | -1.8% | +2.5% | |
| Q1 2017 | -0.5% | -0.1% | +7.8% | |
| Q4 2016 | +1.3% | -0.7% | -3.0% | |
| Q3 2016 | -1.4% | +0.3% | -1.9% | |
| Q2 2016 | -2.1% | -2.2% | -6.8% | |
| Q1 2016 | +0.8% | — | — | |
| Q4 2015 | +2.5% | — | — | |
| Q3 2015 | -0.3% | — | — | |
| Q2 2015 | -3.0% | — | — | |
| Q1 2015 | -2.0% | — | — | |
| Q4 2014 | -3.6% | — | — | |
| Q3 2014 | -0.4% | — | — | |
| Q2 2014 | +1.2% | — | — | |
| Q1 2014 | -0.8% | — | — | |
| Q4 2013 | +1.1% | — | — | |
| Q3 2013 | -0.7% | — | — | |
| Q2 2013 | -2.7% | — | — | |
| Q1 2013 | +3.6% | — | — | |
| Q4 2012 | +2.2% | — | — | |
| Q3 2012 | -0.7% | — | — | |
| Q2 2012 | -2.4% | — | — | |
| Q4 2011 | -2.4% | — | — | |
| Q1 2012 | +1.1% | — | — | |
| Q4 2010 | -2.6% | — | — | |
| Q3 2011 | -1.8% | — | — | |
| Q2 2011 | +10.4% | — | — | |
| Q1 2010 | +0.2% | — | — | |
| Q1 2011 | +0.0% | — | — | |
| Q4 2008 | +3.4% | — | — | |
| Q3 2009 | +1.1% | — | — | |
| Q3 2010 | +1.1% | — | — | |
| Q4 2009 | +0.8% | — | — | |
| Q2 2010 | +0.8% | — | — | |
| Q2 2009 | +0.8% | — | — |
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