W.P. Carey: 4Q Earnings Snapshot

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

The real estate investment trust, based in New York, said it had funds from operations of $212.7 million, or $1.20 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 $134.6 million, or 76 cents per share.

The real estate investment trust posted revenue of $307.4 million in the period.

For the year, the company reported funds from operations of $829.1 million, or $4.74 per share. Revenue was reported as $1.21 billion.

W.P. Carey expects full-year funds from operations in the range of $4.79 to $4.93 per share.

The company's shares have dropped 2% since the beginning of the year. The stock has decreased 18% in the last 12 months.

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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

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