W.P. Carey: 1Q Earnings Snapshot
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.