W. P. Carey(US:WPC) Prnewswire·2025-07-29 20:05Financial Performance - W. P. Carey reported a net income of $51.2 million for the second quarter of 2025, a decrease of 64.2% from $142.9 million in the same quarter of 2024, primarily due to a mark-to-market loss of $69.0 million on shares of Lineage [9][10] - The diluted earnings per share for the second quarter were $0.23, down from $0.65 in the previous year [29] - Adjusted Funds from Operations (AFFO) for the second quarter were $1.28 per diluted share, reflecting a 9.4% increase from $1.17 per diluted share in the second quarter of 2024 [10][29] Revenue and Investment Activity - Total revenues for the second quarter reached $430.8 million, a 10.5% increase from $389.7 million in the second quarter of 2024, driven by lease revenues and net investment activity [8][29] - The company completed investments totaling $1.1 billion year-to-date, including $548.6 million in the second quarter [7][23] - The company raised its full-year AFFO guidance to between $4.87 and $4.95 per diluted share, based on anticipated investment volume of $1.4 billion to $1.8 billion [5][16] Dividend and Shareholder Returns - The company declared a quarterly cash dividend of $0.900 per share, equivalent to an annualized rate of $3.60 per share, representing a 3.4% increase compared to the second quarter of 2024 [11][29] - The dividend was paid on July 15, 2025, to shareholders of record as of June 30, 2025 [11] Real Estate Portfolio - As of June 30, 2025, W. P. Carey’s net lease portfolio consisted of 1,600 properties covering approximately 178 million square feet, with a weighted-average lease term of 12.1 years and an occupancy rate of 98.2% [19][24] - The company reported a contractual same-store rent growth of 2.3% year-over-year [18] Balance Sheet and Capitalization - The company had total liquidity of $1.7 billion as of June 30, 2025, including $1.3 billion available under its Senior Unsecured Credit Facility and $244.8 million in cash and cash equivalents [20] - Subsequent to the quarter end, W. P. Carey issued $400 million of 4.650% Senior Unsecured Notes due 2030 [4][21]