W.P. Carey: Q4 Earnings Snapshot

NEW YORK (AP) — NEW YORK (AP) — W.P. Carey Inc. (WPC) on Friday reported a key measure of profitability in its fourth quarter.

The New York-based real estate investment trust said it had funds from operations of $261.4 million, or $1.19 per share, in the period.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $144.3 million, or 66 cents per share.

The real estate investment trust, based in New York, posted revenue of $412.4 million in the period.

For the year, the company reported funds from operations of $1.12 billion. Revenue was reported as $1.74 billion.

W.P. Carey expects full-year funds from operations in the range of $4.65 to $4.75 per share.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WPC at https://www.zacks.com/ap/WPC