W. P. Carey Inc. (NYSE:WPC) Q4 2023 Results Conference Call February 9, 2024 10:00 AM ET

Company Participants

Peter Sands - Head, Investor Relations

Jason Fox - Chief Executive Officer

Toni Sanzone - Chief Financial Officer

John Park - President

Brooks Gordon - Head, Asset Management

Conference Call Participants

Brad Heffern - RBC

John Kim - BMO Capital Markets

Anthony Paolone - JPMorgan

Smedes Rose - Citibank

Mitch Germain - JMP Securities

Greg McGinniss - Scotiabank

Spenser Allaway - Green Street

RJ Milligan - Raymond James

Farrell Granath - Bank of America

Operator

Hello. And welcome to W. P. Carey’s Fourth Quarter and Full Year 2023 Earnings Conference Call. My name is Daryl, and I’ll be your operator today. All lines have been placed on mute to prevent any background noise. Please note that today’s event is being recorded. After today’s prepared remarks, we will be taking questions via the phone line. Instructions on how to do so will be given at the appropriate time.

And I will now turn today’s program over to Peter Sands, Head of Investor Relations. Mr. Sands, please go ahead.

Peter Sands

Good morning, everyone. And thank you for joining us this morning for our 2023 fourth quarter earnings call.

Before we begin, I would like to remind everyone that some of the statements made on this call are not historic facts and may be deemed forward-looking statements. Factors that could cause actual results to differ materially from W. P. Carey’s expectations are provided in our SEC filings.

An online replay of this conference call will be made available in the Investor Relations section of our website at wpcarey.com, where it will be archived for approximately one year and where you can also find copies of our investor presentations and other related materials.

And with that, I’ll hand the call over to our Chief Executive Officer, Jason Fox.

Jason Fox

Thank you, Peter, and good morning, everyone. Today, I'll briefly recap 2023, talk about how we're positioned for the year ahead with significant capital ready to deploy and an improving transaction market outlook.

Toni Sanzone, our CFO, will focus on some of the details of our 2023 financial results in our 2024 guidance, both of which reflect the impacts of successfully executing on the office exit strategy we announced in September. Toni will also cover certain tenant specific impacts we expect in 2024, which our guidance also reflects. John Park, our President; and Brooks Gordon, our Head of Asset Management are also on the call to take questions.