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W. P. Carey, Inc. (WPC) CEO Jason Fox Presents at Citi Virtual Global Property CEO Conference - (Transcript)

Mar. 08, 2021 2:40 PM ETW. P. Carey Inc. (WPC)3 Comments
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W. P. Carey, Inc. (NYSE:WPC) Citi Virtual Global Property CEO Conference March 8, 2021 10:30 AM ET

Company Participants

Jason Fox - Chief Executive Officer

Jeremiah Gregory - Head of Capital Markets

Conference Call Participants

Manny Korchman - Citi Research

Manny Korchman

Good morning, everyone and welcome to Citi’s 2021 Virtual Global Property CEO Conference. I am Manny Korchman with Citi Research and we are pleased to have with us, W. P. Carey, Inc. CEO, Jason Fox. This session is for Citian clients only. If media or other individuals are on the line, please disconnect now. Disclosures are available on the webcast.

For those joining us here today, if you’d like to ask management any questions, simply type them into the question box on the screen. They’ll come to me and I will do my best to ask them during the session. Jason, I’ll turn it over to you to introduce the company and your management team. And as you sort of conclude that, if you could answer the following question for us, that’ll be helpful.

Coming out of the pandemic, if an investor were to choose only one real estate stock to own, what are three reasons they should choose W. P. Carey?

Jason Fox

Sure. Thank you, Manny. Thanks for having us and with me that’ll speak some today is Jeremiah Gregory, our Head of Capital Markets. I think that most people are aware of who we are. We are the one of the largest net lease REITs in the index with around $18 billion total enterprise value and we are known for diversification across geographies and asset types and we are currently focused on growth.

So, let me start with your question. So, I think the three reasons are, number one, we view our stock as currently undervalued on an AFFO multiple

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