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W. P. Carey Annual Earnings Rise

|Includes:W.P. Carey, Inc. (WPC)

Originally published at

W. P. Carey Inc. (NYSE:WPC) announced its financial results for the fourth fiscal quarter and full-year 2013, reporting a quarterly earnings decline but an annual earnings increase. The global net-lease real estate investment trust (REIT) acquired seven properties during the year, for a total of $347.1M while structuring $1.4B in investments on behalf of its managed REITs. Adjusted generated funds from operations for fourth quarter were $78.1M and $1.12 per share, nearly flat from the $78.8M and $1.13 per share generated a year ago. Annual results increased from $180.6M and $3.76 per share in 2012 to $294.2M and $4.22 per share. President and CEO Trevor Bond remarked that the company raised its quarterly dividend for the fifty-first consecutive quarter and is pleased with its early progress in the new fiscal year. The company recently closed on its acquisition of CPA(NYSE:R):16 - Global, which increased its unsecured line of credit capacity, resulting in investment grade corporate ratings from both Standard & Poor and Moody's.

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Stocks: WPC