WPC Q2 2024: Thoroughly Re-Rated
W.P. Carey (WPC) followed the mediocre first quarter with a disappointing second quarter.
WPC reduced guidance for AFFO per share.
Old midpoint: $4.70
New midpoint: $4.68
That’s not a huge reduction. It’s actually pretty small. But WPC is under pressure to do something positive since this management produced the catastrophic flop of spinning off office prop…