NYSE$WPC
WP Carey Inc · Q4 2019 earnings
Q4 2019 earnings · · Investor relations
Briefing
W. P. Carey reported mixed results for Q4 2019, with a decrease in net income but growth in real estate revenue, and provided AFFO guidance for 2020.
W. P. Carey Inc. reported a decrease in net income attributable to W. P. Carey for the fourth quarter of 2019, from $193.3 million to $129.4 million. However, real estate revenues increased by 19.4%. The company announced a full year AFFO guidance range for 2020 of $4.86 to $5.01 per diluted share.
- Net income attributable to W. P. Carey was $129.4 million, or $0.75 per diluted share.
- AFFO was $222.0 million, or $1.28 per diluted share.
- Quarterly cash dividend raised to $1.038 per share, equivalent to an annualized dividend rate of $4.152 per share.
- Investment volume of $411.7 million during the fourth quarter.
Headline financials
Revenue & EPS history
WP Carey · Revenue · Quarterly
$296M
Revenue by segment
WP Carey · $306M total across 4 segments · Q4 2019
- Lease revenues$275M—89.8%
- Other lease-related income$12.3M—4.0%
- Asset management revenue$9.73M—3.2%
- Operating property revenues$9.25M—3.0%
Forward guidance
For the 2020 full year, the Company expects to report total AFFO of between $4.86 and $5.01 per diluted share, including Real Estate AFFO of between $4.74 and $4.89 per diluted share.
Tailwinds
- Investments for the Company’s Real Estate portfolio of between $750 million and $1.25 billion
- Ample liquidity
- Low leverage
- Established access to various forms of capital
- Healthy number of capital projects scheduled for completion this year
Headwinds
- The company does not provide guidance on net income
- Inherent difficulty in quantifying certain items necessary to provide reconciliation to net income
- Unknown effect on impairments of assets
- Unknown timing and potential significance
- Impact of gains and losses from sales of assets and depreciation and amortization from new acquisitions
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 Q4 2019
-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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