W. P. Carey Inc. disclosed NAREIT-defined funds from operations attributable to the company for the 2017 fourth quarter of $127.6 million, or $1.18 per share, a 12.8% rise in the aggregate from $113.1 million, or $1.05 per share, in the comparable 2016 period.
NAREIT is the U.S.-based trade association for real estate investment trusts and publicly traded real estate companies.
Adjusted FFO attributable to the net lease-focused REIT rose 8.0% year over year to $142.1 million, or $1.31 per share, in the fourth quarter from $131.5 million, or $1.22 per share.
For the full year, the company reported a 5.9% year-over-year decline in FFO. In the aggregate, results totaled $489.0 million, or $4.53 per share, compared with $519.9 million, or $4.86 per share, in 2016. AFFO for the full year was $573.0 million, or $5.30 per share, a 4.6% increase from $547.7 million, or $5.12 per share, in 2016.
The S&P Capital IQ consensus FFO estimate for the quarter was $1.13 per share. For the full year, the S&P Capital IQ consensus estimate for FFO was $4.57 per share.
Net revenues for the full year came to $775.3 million for the year, an 8.8% decrease from $849.7 million in 2016. Net revenues for the quarter came in at $185.3 million, an 8.5% year-over-year decline from $202.5 million.
In reporting its results, W. P. Carey said it expects AFFO per share in the range of $5.30 to $5.50 for the 2018 full year.
The S&P Capital IQ consensus FFO-per-share estimate for the 2018 full year is $4.65.