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 $269.7 million, or $1.29 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 $209.5 million, or $1 per share.
The real estate investment trust, based in New York, posted revenue of $402.6 million in the period.
For the year, the company reported funds from operations of $1.06 billion. Revenue was reported as $1.48 billion.
W.P. Carey expects full-year funds from operations in the range of $5.30 to $5.40 per share.
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