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W.P. Carey: 1Q Earnings Snapshot

May 1, 2020 GMT

NEW YORK (AP) _ W.P. Carey Inc. (WPC) on Friday reported a key measure of profitability in its first quarter.

The New York-based real estate investment trust said it had funds from operations of $216.5 million, or $1.25 per share, in the period.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $66.1 million, or 38 cents per share.

The real estate investment trust posted revenue of $294.6 million in the period.

The company’s shares have fallen 18% since the beginning of the year. The stock has declined 16% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WPC at https://www.zacks.com/ap/WPC

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