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W. P. Carey's Q2 Nareit FFO per share down 7.8% YOY

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W. P. Carey's Q2 Nareit FFO per share down 7.8% YOY

W. P. Carey Inc. reported second-quarter Nareit funds from operations of $183.2 million, or $1.07 per share, a 7.8% fall on a per-share basis from $125.0 million, or $1.16 per share, in the corresponding 2018 period.

The S&P Global Market Intelligence consensus FFO-per-share estimate for the quarter was $1.13.

Nareit is the U.S.-based trade association for real estate investment trusts and publicly traded real estate companies.

AFFO for the quarter declined 7.6% year over year on a per-share basis to $208.5 million, or $1.22 per share, from $142.6 million, or $1.32 per share.

The S&P Global Market Intelligence consensus estimate for AFFO was $1.25 per share for the second quarter.

For the second quarter, net attributable income came in at $66.0 million, a 12.7% decrease from $75.7 million in the year-ago period.

In reporting results, W.P. Carey said it forecasts AFFO per share in the range of $4.95 to $5.05 for the full year, a narrowing of the previous guidance range of $4.95 to $5.15.

The S&P Global Market Intelligence consensus AFFO-per-share estimate for the full year is $5.00.