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    W. P. Carey Announces First Quarter 2025 Financial Results

    4/29/25 4:05:00 PM ET
    $WPC
    Real Estate Investment Trusts
    Real Estate
    Get the next $WPC alert in real time by email

    NEW YORK, April 29, 2025 /PRNewswire/ -- W. P. Carey Inc. (NYSE: WPC) (W. P. Carey or the Company), a net lease real estate investment trust, today reported its financial results for the first quarter ended March 31, 2025.

    Financial Highlights



    2025 First Quarter

    Net income attributable to W. P. Carey (millions)

    $125.8

    Diluted earnings per share

    $0.57





    AFFO (millions)

    $257.8

    AFFO per diluted share

    $1.17

    • Reaffirming 2025 AFFO guidance of between $4.82 and $4.92 per diluted share, based on anticipated full year investment volume of between $1.0 billion and $1.5 billion



    • First quarter cash dividend of $0.890 per share, equivalent to an annualized dividend rate of $3.56 per share

    Real Estate Portfolio

    • Investment volume of $448.6 million completed year to date, including $275.1 million during the first quarter and $173.5 million subsequent to quarter end



    • Active capital investments and commitments of $117.1 million scheduled to be completed in 2025



    • Gross disposition proceeds of $129.8 million during the first quarter



    • Contractual same-store rent growth of 2.4%

    Balance Sheet and Capitalization

    • Repaid $450 million of 4.0% Senior Unsecured Notes due February 2025



    • Refinanced existing €500 million term loan, extending its maturity three years to 2029, and executed an interest rate swap fixing the interest rate at 2.80% per annum

     

    MANAGEMENT COMMENTARY

    "We've had a strong start to the year, closing approximately $450 million of investments to date, with an additional $120 million of projects scheduled to complete this year and several hundred million dollars of deals in our pipeline at advanced stages," said Jason Fox, Chief Executive Officer. "Notwithstanding the current uncertainty in the markets, we believe we're well positioned to continue executing on our business plan given the typical resiliency of our portfolio during times of economic disruption, the strength of our balance sheet and, importantly, our ability to fund external growth through the top end of our investment guidance range, without having to issue capital this year.

    "We're reaffirming both our AFFO and investment volume guidance ranges and believe there's potential to raise as we continue to gain better visibility into transaction activity, tariffs and how the overall economic environment progresses throughout the year."

     

    QUARTERLY FINANCIAL RESULTS

    Revenues

    • Revenues, including reimbursable costs, for the 2025 first quarter totaled $409.9 million, up 5.2% from $389.8 million for the 2024 first quarter.



      • Lease revenues increased primarily due to net investment activity and the impact of certain lease restructurings.



      • Income from finance leases and loans receivable decreased primarily as a result of the disposition of the U-Haul portfolio during the 2024 first quarter.



      • Operating property revenues decreased primarily as a result of the sale of one hotel operating property during the 2024 second quarter and the conversion of certain self-storage operating properties to net leases during the 2024 third quarter.

    Net Income Attributable to W. P. Carey

    • Net income attributable to W. P. Carey for the 2025 first quarter was $125.8 million, down 21.0% from $159.2 million for the 2024 first quarter, due primarily to higher losses from remeasurement of foreign debt and a higher non-cash allowance for credit loss on finance leases and loans receivable, partly offset by higher gain on sale of real estate.

    Adjusted Funds from Operations (AFFO)

    • AFFO for the 2025 first quarter was $1.17 per diluted share, up 2.6% from $1.14 per diluted share for the 2024 first quarter, primarily reflecting the impact of net investment activity, rent escalations and leasing activity, partly offset by lower interest income on cash deposits.

    Note: Further information concerning AFFO, which is a non-GAAP supplemental performance metric, is presented in the accompanying tables and related notes.

    Dividend

    • On March 13, 2025, the Company reported that its Board of Directors increased its quarterly cash dividend to $0.890 per share, equivalent to an annualized dividend rate of $3.56 per share, representing a 2.9% increase compared to the 2024 first quarter. The dividend was paid on April 15, 2025 to shareholders of record as of March 31, 2025.

     

    AFFO GUIDANCE

    • For the 2025 full year, the Company reaffirms its expectation that it will report AFFO of between $4.82 and $4.92 per diluted share, based on the following key assumptions, which are unchanged:

              (i)  investment volume of between $1.0 billion and $1.5 billion;

              (ii) disposition volume of between $500 million and $1.0 billion;

              (iii) total general and administrative expenses of between $100 million and $103 million;

              (iv) property expenses, excluding reimbursable tenant costs of between $49 million and $53 million; and

              (v) tax expense (on an AFFO basis) of between $39 million and $43 million.

    Note: The Company does not provide guidance on net income. The Company only provides guidance on AFFO and does not provide a reconciliation of this forward-looking non-GAAP guidance to net income due to the inherent difficulty in quantifying certain items necessary to provide such reconciliation as a result of their unknown effect, timing and potential significance. Examples of such items include impairments of assets, gains and losses from sales of assets, and depreciation and amortization from new acquisitions.

     

    REAL ESTATE

    Investments

    • Year to date, the Company completed investments totaling $448.6 million, including $275.1 million during the 2025 first quarter and $173.5 million subsequent to quarter end.



    • During the 2025 first quarter, the Company committed to fund new capital investments and commitments totaling $50.8 million, which are scheduled to be completed in 2025 and 2026.



    • The Company currently has eight capital investments and commitments totaling $117.1 million scheduled to be completed during 2025.

    Dispositions

    • During the 2025 first quarter, the Company disposed of nine properties for gross proceeds totaling $129.8 million.

    Contractual Same-Store Rent Growth

    • As of March 31, 2025, contractual same store rent growth was 2.4% year over year, on a constant currency basis.

    Composition

    • As of March 31, 2025, the Company's net lease portfolio consisted of 1,614 properties, comprising 177 million square feet leased to 366 tenants, with a weighted-average lease term of 12.3 years and an occupancy rate of 98.3%. In addition, the Company owned 78 self-storage operating properties, four hotel operating properties and two student housing operating properties, totaling approximately 6.4 million square feet.

     

    BALANCE SHEET AND CAPITALIZATION

    Liquidity

    • As of March 31, 2025, the Company had total liquidity of $2.0 billion, including approximately $1.8 billion of available capacity under its Senior Unsecured Credit Facility (net of amounts reserved for standby letters of credit) and $187.8 million of cash and cash equivalents.

    Unsecured Term Loan

    • As previously announced, on March 31, 2025, the Company refinanced its existing €500 million term loan and extended its maturity by three years to 2029. The term loan includes an option to extend up to an additional year at the Company's discretion, subject to the satisfaction of certain customary conditions.



    • In conjunction with the term loan, the Company executed a €500 million variable-to-fixed interest rate swap fixing one-month EURIBOR at 2.00% and resulting in an all-in annual rate of 2.80%.

    Senior Unsecured Notes

    • As previously announced, on February 3, 2025, the Company repaid $450 million of 4.0% Senior Unsecured Notes at maturity.

     

    *     *     *     *     *

     

    Supplemental Information

    The Company has provided supplemental unaudited financial and operating information regarding the 2025 first quarter and certain prior quarters, including a description of non-GAAP financial measures and reconciliations to GAAP measures, in a Current Report on Form 8-K filed with the Securities and Exchange Commission (SEC) on April 29, 2025, and made available on the Company's website at ir.wpcarey.com/investor-relations.

     

    *     *     *     *     *

     

    Live Conference Call and Audio Webcast Scheduled for Wednesday, April 30, 2025 at 11:00 a.m. Eastern Time

    Please dial in at least 10 minutes prior to the start time.

    Date/Time: Wednesday, April 30, 2025 at 11:00 a.m. Eastern Time

    Call-in Number: 1 (877) 465-1289 (U.S.) or +1 (201) 689-8762 (international)

    Live Audio Webcast and Replay: www.wpcarey.com/earnings

     

    *     *     *     *     *

     

    W. P. Carey Inc.

    W. P. Carey ranks among the largest net lease REITs with a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,614 net lease properties covering approximately 177 million square feet and a portfolio of 78 self-storage operating properties as of March 31, 2025. With offices in New York, London, Amsterdam and Dallas, the company remains focused on investing primarily in single-tenant, industrial, warehouse and retail properties located in the U.S. and Northern and Western Europe, under long-term net leases with built-in rent escalations.

    www.wpcarey.com

     

    *     *     *     *     *

     

    Cautionary Statement Concerning Forward-Looking Statements

    Certain of the matters discussed in this communication constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, both as amended by the Private Securities Litigation Reform Act of 1995. The forward-looking statements include, among other things, statements regarding the intent, belief or expectations of W. P. Carey and can be identified by the use of words such as "may," "will," "should," "would," "will be," "goals," "believe," "project," "expect," "anticipate," "intend," "estimate" "opportunities," "possibility," "strategy," "maintain" or the negative version of these words and other comparable terms. These forward-looking statements include, but are not limited to, statements made by Mr. Jason Fox regarding deal volume, sources of capital and expectations for future growth. These statements are based on the current expectations of our management, and it is important to note that our actual results could be materially different from those projected in such forward-looking statements. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Other unknown or unpredictable risks or uncertainties, like the risks related to fluctuating interest rates, the impact of inflation and tariffs on our tenants and us, the effects of pandemics and global outbreaks of contagious diseases, and domestic or geopolitical crises, such as terrorism, military conflict, war or the perception that hostilities may be imminent, political instability or civil unrest, or other conflict, and those additional risk factors discussed in reports that we have filed with the SEC, could also have material adverse effects on our future results, performance or achievements. Discussions of some of these other important factors and assumptions are contained in W. P. Carey's filings with the SEC and are available at the SEC's website at http://www.sec.gov, including Part I, Item 1A. Risk Factors in W. P. Carey's Annual Report on Form 10-K for the fiscal year ended December 31, 2024. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this communication, unless noted otherwise. Except as required under the federal securities laws and the rules and regulations of the SEC, W. P. Carey does not undertake any obligation to release publicly any revisions to the forward-looking statements to reflect events or circumstances after the date of this communication or to reflect the occurrence of unanticipated events.

    Institutional Investors:

    Peter Sands

    1 (212) 492-1110

    [email protected] 

    Individual Investors:

    W. P. Carey Inc.

    1 (212) 492-8920

    [email protected] 

    Press Contact:

    Anna McGrath

    1 (212) 492-1166

    [email protected] 

     

    *     *     *     *     *

     

    W. P. CAREY INC.

    Consolidated Balance Sheets (Unaudited)

    (in thousands, except share and per share amounts)

     



    March 31, 2025



    December 31, 2024

    Assets







    Investments in real estate:







    Land, buildings and improvements — net lease and other

    $              13,114,194



    $              12,842,869

    Land, buildings and improvements — operating properties

    1,202,920



    1,198,676

    Net investments in finance leases and loans receivable

    866,949



    798,259

    In-place lease intangible assets and other

    2,338,805



    2,297,572

    Above-market rent intangible assets

    671,887



    665,495

    Investments in real estate

    18,194,755



    17,802,871

    Accumulated depreciation and amortization (a)

    (3,367,408)



    (3,222,396)

    Assets held for sale, net

    12,139



    —

    Net investments in real estate

    14,839,486



    14,580,475

    Equity method investments

    304,838



    301,115

    Cash and cash equivalents

    187,809



    640,373

    Other assets, net

    1,000,675



    1,045,218

    Goodwill

    974,497



    967,843

    Total assets

    $              17,307,305



    $              17,535,024









    Liabilities and Equity







    Debt:







    Senior unsecured notes, net

    $                6,211,918



    $                6,505,907

    Unsecured term loans, net

    1,113,910



    1,075,826

    Unsecured revolving credit facility

    205,129



    55,448

    Non-recourse mortgages, net

    335,345



    401,821

    Debt, net

    7,866,302



    8,039,002

    Accounts payable, accrued expenses and other liabilities

    605,618



    596,994

    Below-market rent and other intangible liabilities, net

    114,414



    119,831

    Deferred income taxes

    154,888



    147,461

    Dividends payable

    199,160



    197,612

    Total liabilities

    8,940,382



    9,100,900









    Preferred stock, $0.001 par value, 50,000,000 shares authorized; none issued

    —



    —

    Common stock, $0.001 par value, 450,000,000 shares authorized; 218,975,748 and 218,848,844

      shares, respectively, issued and outstanding

    219



    219

    Additional paid-in capital

    11,792,420



    11,805,179

    Distributions in excess of accumulated earnings

    (3,276,497)



    (3,203,974)

    Deferred compensation obligation

    96,952



    78,503

    Accumulated other comprehensive loss

    (250,731)



    (250,232)

    Total stockholders' equity

    8,362,363



    8,429,695

    Noncontrolling interests

    4,560



    4,429

    Total equity

    8,366,923



    8,434,124

      Total liabilities and equity

    $              17,307,305



    $              17,535,024

    ________

    (a)     

    Includes $1.9 billion and $1.8 billion of accumulated depreciation on buildings and improvements as of March 31, 2025 and December 31, 2024, respectively, and $1.5 billion and $1.4 billion of accumulated amortization on lease intangibles as of March 31, 2025 and December 31, 2024, respectively.

     

     

    W. P. CAREY INC.

    Quarterly Consolidated Statements of Income (Unaudited)

    (in thousands, except share and per share amounts)

     



    Three Months Ended



    March 31, 2025



    December 31, 2024



    March 31, 2024

    Revenues











    Real Estate:











      Lease revenues

    $                   353,768



    $                   351,394



    $                   322,251

      Income from finance leases and loans receivable

    17,458



    16,796



    25,793

      Operating property revenues

    33,094



    34,132



    36,643

      Other lease-related income

    3,121



    1,329



    2,155



    407,441



    403,651



    386,842

    Investment Management:











      Asset management revenue

    1,350



    1,461



    1,893

      Other advisory income and reimbursements

    1,067



    1,053



    1,063



    2,417



    2,514



    2,956



    409,858



    406,165



    389,798

    Operating Expenses











    Depreciation and amortization

    129,607



    115,770



    118,768

    General and administrative

    26,967



    24,254



    27,868

    Reimbursable tenant costs

    17,092



    15,661



    12,973

    Operating property expenses

    16,544



    16,586



    17,950

    Property expenses, excluding reimbursable tenant costs

    11,706



    12,580



    12,173

    Stock-based compensation expense

    9,148



    9,667



    8,856

    Impairment charges — real estate

    6,854



    27,843



    —

    Merger and other expenses

    556



    (484)



    4,452



    218,474



    221,877



    203,040

    Other Income and Expenses











    Interest expense

    (68,804)



    (70,883)



    (68,651)

    Gain on sale of real estate, net

    43,777



    4,480



    15,445

    Other gains and (losses) (a)

    (42,197)



    (77,224)



    13,839

    Non-operating income (b)

    7,910



    13,847



    15,505

    Earnings from equity method investments

    5,378



    302



    4,864



    (53,936)



    (129,478)



    (18,998)

    Income before income taxes

    137,448



    54,810



    167,760

    Provision for income taxes

    (11,632)



    (7,772)



    (8,674)

    Net Income

    125,816



    47,038



    159,086

    Net loss (income) attributable to noncontrolling interests

    8



    (15)



    137

    Net Income Attributable to W. P. Carey

    $                   125,824



    $                    47,023



    $                   159,223













    Basic Earnings Per Share

    $                        0.57



    $                        0.21



    $                        0.72

    Diluted Earnings Per Share

    $                        0.57



    $                        0.21



    $                        0.72

    Weighted-Average Shares Outstanding











    Basic

    220,401,156



    220,223,239



    220,031,597

    Diluted

    220,720,310



    220,577,900



    220,129,870













    Dividends Declared Per Share

    $                      0.890



    $                      0.880



    $                      0.865

    __________

    (a)     

    Amount for the three months ended March 31, 2025 is primarily comprised of net losses on foreign currency exchange rate movements of $27.9 million and a non-cash allowance for credit losses of $12.3 million.

    (b)     

    Amount for the three months ended March 31, 2025 is comprised of a dividend of $2.8 million from our investment in shares of Lineage, interest income on deposits of $2.6 million and realized gains on foreign currency exchange derivatives of $2.6 million.

     

     

    W. P. CAREY INC.

    Quarterly Reconciliation of Net Income to Adjusted Funds from Operations (AFFO) (Unaudited)

    (in thousands, except share and per share amounts)

     



    Three Months Ended



    March 31, 2025



    December 31, 2024



    March 31, 2024

    Net income attributable to W. P. Carey

    $                   125,824



    $                    47,023



    $                   159,223

    Adjustments:











      Depreciation and amortization of real property

    128,937



    115,107



    118,113

      Gain on sale of real estate, net

    (43,777)



    (4,480)



    (15,445)

      Impairment charges — real estate

    6,854



    27,843



    —

      Proportionate share of adjustments to earnings from equity method investments (a)

    1,643



    2,879



    2,949

      Proportionate share of adjustments for noncontrolling interests (b)

    (78)



    (79)



    (103)

    Total adjustments

    93,579



    141,270



    105,514

    FFO (as defined by NAREIT) Attributable to W. P. Carey (c)

    219,403



    188,293



    264,737

    Adjustments:











      Other (gains) and losses (d)

    42,197



    77,224



    (13,839)

      Straight-line and other leasing and financing adjustments

    (19,033)



    (24,849)



    (19,553)

      Stock-based compensation

    9,148



    9,667



    8,856

      Amortization of deferred financing costs

    4,782



    4,851



    4,588

      Above- and below-market rent intangible lease amortization, net

    1,123



    10,047



    4,068

      Tax (benefit) expense – deferred and other

    (782)



    96



    (1,373)

      Other amortization and non-cash items

    560



    557



    579

      Merger and other expenses

    556



    (484)



    4,452

      Proportionate share of adjustments to earnings from equity method investments (a)

    (86)



    2,266



    (519)

      Proportionate share of adjustments for noncontrolling interests (b)

    (48)



    (62)



    (104)

    Total adjustments

    38,417



    79,313



    (12,845)

    AFFO Attributable to W. P. Carey (c)

    $                   257,820



    $                   267,606



    $                   251,892













    Summary











    FFO (as defined by NAREIT) attributable to W. P. Carey (c)

    $                   219,403



    $                   188,293



    $                   264,737

    FFO (as defined by NAREIT) attributable to W. P. Carey per diluted share (c)

    $                         0.99



    $                         0.85



    $                         1.20

    AFFO attributable to W. P. Carey (c)

    $                   257,820



    $                   267,606



    $                   251,892

    AFFO attributable to W. P. Carey per diluted share (c)

    $                         1.17



    $                         1.21



    $                         1.14

    Diluted weighted-average shares outstanding

    220,720,310



    220,577,900



    220,129,870

    __________

    (a)     

    Equity income, including amounts that are not typically recognized for FFO and AFFO, is recognized within Earnings from equity method investments on the consolidated statements of income. This represents adjustments to equity income to reflect FFO and AFFO on a pro rata basis.

    (b)     

    Adjustments disclosed elsewhere in this reconciliation are on a consolidated basis. This adjustment reflects our FFO or AFFO on a pro rata basis.

    (c)     

    FFO and AFFO are non-GAAP measures. See below for a description of FFO and AFFO.

    (d)     

    Amount for the three months ended March 31, 2025 is primarily comprised of net losses on foreign currency exchange rate movements of $27.9 million and a non-cash allowance for credit losses of $12.3 million.

    Non-GAAP Financial Disclosure

    Funds from Operations (FFO) and Adjusted Funds from Operations (AFFO)

    Due to certain unique operating characteristics of real estate companies, as discussed below, the National Association of Real Estate Investment Trusts (NAREIT), an industry trade group, has promulgated a non-GAAP measure known as FFO, which we believe to be an appropriate supplemental measure, when used in addition to and in conjunction with results presented in accordance with GAAP, to reflect the operating performance of a REIT. The use of FFO is recommended by the REIT industry as a supplemental non-GAAP measure. FFO is not equivalent to, nor a substitute for, net income or loss as determined under GAAP.

    We define FFO, a non-GAAP measure, consistent with the standards established by the White Paper on FFO approved by the Board of Governors of NAREIT, as restated in December 2018. The White Paper defines FFO as net income or loss computed in accordance with GAAP, excluding gains or losses from the sale of certain real estate, impairment charges on real estate or other assets incidental to the company's main business, gains or losses on changes in control of interests in real estate and depreciation and amortization from real estate assets; and after adjustments for unconsolidated partnerships and jointly owned investments. Adjustments for unconsolidated partnerships and jointly owned investments are calculated to reflect FFO on the same basis.

    We also modify the NAREIT computation of FFO to adjust GAAP net income for certain non-cash charges, such as amortization of real estate-related intangibles, deferred income tax benefits and expenses, straight-line rent and related reserves, other non-cash rent adjustments, non-cash allowance for credit losses on loans receivable and finance leases, stock-based compensation, non-cash environmental accretion expense, amortization of discounts and premiums on debt and amortization of deferred financing costs. Our assessment of our operations is focused on long-term sustainability and not on such non-cash items, which may cause short-term fluctuations in net income but have no impact on cash flows. Additionally, we exclude non-core income and expenses, such as gains or losses from extinguishment of debt, gains or losses on the mark-to-market fair value of equity securities, merger and acquisition expenses, and spin-off expenses. We also exclude realized and unrealized gains/losses on foreign currency exchange rate movements (other than those realized on the settlement of foreign currency derivatives), which are not considered fundamental attributes of our business plan and do not affect our overall long-term operating performance. We refer to our modified definition of FFO as AFFO. We exclude these items from GAAP net income to arrive at AFFO as they are not the primary drivers in our decision-making process and excluding these items provides investors a view of our portfolio performance over time and makes it more comparable to other REITs. AFFO also reflects adjustments for unconsolidated partnerships and jointly owned investments. We use AFFO as one measure of our operating performance when we formulate corporate goals, evaluate the effectiveness of our strategies and determine executive compensation.

    We believe that AFFO is a useful supplemental measure for investors to consider as we believe it will help them to better assess the sustainability of our operating performance without the potentially distorting impact of these short-term fluctuations. However, there are limits on the usefulness of AFFO to investors. For example, impairment charges and unrealized foreign currency exchange rate losses that we exclude may become actual realized losses upon the ultimate disposition of the properties in the form of lower cash proceeds or other considerations. We use our FFO and AFFO measures as supplemental financial measures of operating performance. We do not use our FFO and AFFO measures as, nor should they be considered to be, alternatives to net income computed under GAAP, or as alternatives to net cash provided by operating activities computed under GAAP, or as indicators of our ability to fund our cash needs.

    W. P. Carey Inc. Logo. (PRNewsFoto/W. P. Carey Inc.) (PRNewsfoto/W. P. Carey Inc.)

    Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/w-p-carey-announces-first-quarter-2025-financial-results-302441580.html

    SOURCE W. P. Carey Inc.

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    $WPC
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    • W.P. Carey upgraded by BMO Capital Markets with a new price target

      BMO Capital Markets upgraded W.P. Carey from Market Perform to Outperform and set a new price target of $67.00 from $60.00 previously

      2/18/25 7:14:38 AM ET
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    • W.P. Carey downgraded by Barclays with a new price target

      Barclays downgraded W.P. Carey from Equal Weight to Underweight and set a new price target of $59.00 from $56.00 previously

      12/17/24 8:25:31 AM ET
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    • UBS initiated coverage on W.P. Carey with a new price target

      UBS initiated coverage of W.P. Carey with a rating of Neutral and set a new price target of $57.00

      5/31/24 7:49:03 AM ET
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    • W. P. Carey Inc. REIT filed SEC Form 8-K: Entry into a Material Definitive Agreement, Financial Statements and Exhibits

      8-K - W. P. Carey Inc. (0001025378) (Filer)

      5/1/25 5:22:15 PM ET
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    • SEC Form 424B5 filed by W. P. Carey Inc. REIT

      424B5 - W. P. Carey Inc. (0001025378) (Filer)

      5/1/25 8:15:22 AM ET
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    • SEC Form 10-Q filed by W. P. Carey Inc. REIT

      10-Q - W. P. Carey Inc. (0001025378) (Filer)

      4/30/25 4:08:36 PM ET
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    • W. P. Carey Announces First Quarter 2025 Financial Results

      NEW YORK, April 29, 2025 /PRNewswire/ -- W. P. Carey Inc. (NYSE: WPC) (W. P. Carey or the Company), a net lease real estate investment trust, today reported its financial results for the first quarter ended March 31, 2025. Financial Highlights 2025 First Quarter Net income attributable to W. P. Carey (millions) $125.8 Diluted earnings per share $0.57 AFFO (millions) $257.8 AFFO per diluted share $1.17 Reaffirming 2025 AFFO guidance of between $4.82 and $4.92 per diluted share, based on anticipated full year investment volume of between $1.0 billion and $1.5 billionFirst quarter cash dividend of $0.890 per share, equivalent to an annualized dividend rate of $3.56 per shareReal Estate Portfoli

      4/29/25 4:05:00 PM ET
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    • W. P. Carey to Release First Quarter 2025 Financial Results on Tuesday, April 29, 2025

      Conference Call Scheduled for Wednesday, April 30, 2025 at 11:00 a.m. Eastern Time NEW YORK, April 8, 2025 /PRNewswire/ -- W. P. Carey Inc. ((W. P. Carey, NYSE:WPC), a leading net lease REIT, announced today that it will release its financial results for the first quarter ended March 31, 2025 after the market closes on Tuesday, April 29, 2025. The company will host a conference call and live audio webcast to discuss its financial results on Wednesday, April 30, 2025 at 11:00 a.m. Eastern Time, details of which are provided below. Live Conference Call and Audio Webcast Date/Time: Wednesday, April 30, 2025 at 11:00 a.m. Eastern TimeCall-in Number:  1 (877) 465-1289 (U.S.) or +1 (201) 689-8762

      4/8/25 7:30:00 AM ET
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    • W. P. Carey Provides Business Update

      Completes First Quarter Investment Volume of $275 Million Provides Updates on Hellweg, True Value and Hearthside and Affirms 2025 AFFO Guidance Recasts Existing €500 Million Term Loan Extending Maturity to 2029 NEW YORK, April 1, 2025 /PRNewswire/ -- W. P. Carey Inc. (NYSE:WPC) (W. P. Carey or the Company), a leading net lease REIT specializing in corporate sale-leasebacks, build-to-suits and the acquisition of single-tenant net lease properties, today provided the following business update and affirmed its full-year 2025 AFFO guidance. Investments During the 2025 first quarte

      4/1/25 7:30:00 AM ET
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    • SEC Form SC 13G/A filed by W. P. Carey Inc. REIT (Amendment)

      SC 13G/A - W. P. Carey Inc. (0001025378) (Subject)

      2/13/24 5:17:34 PM ET
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    • SEC Form SC 13G filed by W. P. Carey Inc. REIT

      SC 13G - W. P. Carey Inc. (0001025378) (Subject)

      1/29/24 7:18:13 AM ET
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    • SEC Form SC 13D/A filed by W. P. Carey Inc. REIT (Amendment)

      SC 13D/A - W. P. Carey Inc. (0001025378) (Filed by)

      8/3/22 4:31:21 PM ET
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    Insider Purchases

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    • Director Farrell Peter bought $55,556 worth of shares (1,000 units at $55.56), increasing direct ownership by 5% to 22,289 units (SEC Form 4)

      4 - W. P. Carey Inc. (0001025378) (Issuer)

      11/15/24 4:15:28 PM ET
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    • Director Alexander Mark A bought $276,430 worth of shares (5,000 units at $55.29), increasing direct ownership by 12% to 45,850 units (SEC Form 4)

      4 - W. P. Carey Inc. (0001025378) (Issuer)

      11/5/24 4:15:24 PM ET
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    • Director Alexander Mark A bought $114,059 worth of shares (2,000 units at $57.03), increasing direct ownership by 5% to 40,124 units (SEC Form 4)

      4 - W. P. Carey Inc. (0001025378) (Issuer)

      8/20/24 4:15:30 PM ET
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    $WPC
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    • W. P. Carey Appoints Rhonda Gass to Board of Directors

      Brings 30+ Years of Technology Experience to WPC Board NEW YORK, March 18, 2024 /PRNewswire/ -- W. P. Carey Inc. ((W. P. Carey, NYSE:WPC), a net lease real estate investment trust, today announced the appointment of Rhonda Gass to its Board of Directors, effective immediately. Ms. Gass will serve as a member of the Audit Committee and brings more than 30 years of experience in technological transformation, cybersecurity and digital risk management. Jason Fox, Chief Executive Officer and Board Member at W. P. Carey, said: "We are thrilled to welcome Rhonda to W. P. Carey's Boar

      3/18/24 7:30:00 AM ET
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    • Carlyle Group and WP Carey Set to Join S&P MidCap 400; Others to Join S&P SmallCap 600

      NEW YORK, Nov. 27, 2023 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P MidCap 400 and S&P SmallCap 600 effective prior to the open of trading on Thursday, November 30: Carlyle Group Inc. (NASD: CG) will replace ICU Medical Inc. (NASD: ICUI) in the S&P MidCap 400. ICU Medical will replace PacWest Bancorp (NASD: PACW) in the S&P SmallCap 600. Banc of California Inc. (NYSE:BANC) is acquiring PacWest Bancorp in a deal expected to be completed soon, pending final closing conditions. Post-merger, Banc of California will remain in the S&P SmallCap 600. ICU Medical is more representative of the small-cap market space.WP Carey Inc. (NYSE: WPC) will replace Worthingt

      11/27/23 6:28:00 PM ET
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    • Urban Edge Properties Announces Appointment of Catherine D. Rice to Board of Trustees

      Urban Edge Properties (NYSE:UE) announced today the appointment of Catherine D. Rice to the Company's Board of Trustees, effective March 15, 2023. Ms. Rice is a seasoned leader with an extensive background in the real estate and financial industries and on public company boards. Her more than thirty-five years of experience includes key management and CFO roles with public and private real estate companies and deep expertise in the public and private capital markets where she has been involved in over $50 billion of capital-raising and financial advisory transactions. "We are thrilled to welcome Katy to our Board," said Jeff Olson, Chairman and CEO. "She brings valuable expertise across a

      3/6/23 7:00:00 AM ET
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    $WPC
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    • W. P. Carey Announces First Quarter 2025 Financial Results

      NEW YORK, April 29, 2025 /PRNewswire/ -- W. P. Carey Inc. (NYSE: WPC) (W. P. Carey or the Company), a net lease real estate investment trust, today reported its financial results for the first quarter ended March 31, 2025. Financial Highlights 2025 First Quarter Net income attributable to W. P. Carey (millions) $125.8 Diluted earnings per share $0.57 AFFO (millions) $257.8 AFFO per diluted share $1.17 Reaffirming 2025 AFFO guidance of between $4.82 and $4.92 per diluted share, based on anticipated full year investment volume of between $1.0 billion and $1.5 billionFirst quarter cash dividend of $0.890 per share, equivalent to an annualized dividend rate of $3.56 per shareReal Estate Portfoli

      4/29/25 4:05:00 PM ET
      $WPC
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    • W. P. Carey to Release First Quarter 2025 Financial Results on Tuesday, April 29, 2025

      Conference Call Scheduled for Wednesday, April 30, 2025 at 11:00 a.m. Eastern Time NEW YORK, April 8, 2025 /PRNewswire/ -- W. P. Carey Inc. ((W. P. Carey, NYSE:WPC), a leading net lease REIT, announced today that it will release its financial results for the first quarter ended March 31, 2025 after the market closes on Tuesday, April 29, 2025. The company will host a conference call and live audio webcast to discuss its financial results on Wednesday, April 30, 2025 at 11:00 a.m. Eastern Time, details of which are provided below. Live Conference Call and Audio Webcast Date/Time: Wednesday, April 30, 2025 at 11:00 a.m. Eastern TimeCall-in Number:  1 (877) 465-1289 (U.S.) or +1 (201) 689-8762

      4/8/25 7:30:00 AM ET
      $WPC
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    • W. P. Carey Releases 2024 CEO Letter

      NEW YORK, March 28, 2025 /PRNewswire/ -- W. P. Carey (W. P. Carey, NYSE: WPC), a leading net lease REIT specializing in corporate sale-leasebacks, build-to-suits and the acquisition of single-tenant net lease properties, today announced the release of its 2024 CEO Letter to shareholders. The letter can be viewed and downloaded from W. P. Carey's website at www.wpcarey.com/CEO-Letter. 2024 highlights include:­ A new foundation for growth: With the successful completion of W. P. Carey's office exit strategy, the company has established a new baseline for AFFO, setting the founda

      3/28/25 7:30:00 AM ET
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    • Director Alexander Mark A was granted 475 shares, increasing direct ownership by 1% to 47,145 units (SEC Form 4)

      4 - W. P. Carey Inc. (0001025378) (Issuer)

      4/3/25 4:16:08 PM ET
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    • Director Gass Rhonda was granted 436 shares, increasing direct ownership by 7% to 6,551 units (SEC Form 4)

      4 - W. P. Carey Inc. (0001025378) (Issuer)

      4/3/25 4:15:56 PM ET
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    • New insider Gregory Jeremiah claimed ownership of 83,242 shares (SEC Form 3)

      3 - W. P. Carey Inc. (0001025378) (Issuer)

      2/27/25 4:19:32 PM ET
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