Core Viewpoint - The article emphasizes the importance of conducting personal in-depth research and due diligence before making investment decisions, highlighting the inherent risks involved in trading [3]. Group 1 - The analysis is intended solely for informational purposes and should not be interpreted as professional investment advice [3]. - There is a clear disclaimer regarding the lack of any stock, option, or derivative positions in the companies mentioned, indicating a neutral stance [2]. - The article expresses the author's personal opinions and does not reflect the views of any affiliated organization [4].

W. P. Carey Inc. Announces Pricing of €1.0 Billion of Senior Unsecured Notes [Accessibility Statement] Skip NavigationNEW YORK, Feb. 12, 2026 /PRNewswire/ -- W. P. Carey Inc. (NYSE: WPC, the "Company") announced today that it has priced an underwritten public offering of €1.0 billion in aggregate principal amount of senior unsecured notes (the "Notes") with a weighted-average coupon of 3.500% and a weighted- average term of 7.4 years, comprising the following tranches:- €500 million aggregate principal amou ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from__________ to __________ Commission File Number: 001-13779 | W. P. Carey Inc. | | | --- | --- | | (Exact name of registrant as specified in its charter) | | | Maryland | 45-45 ...

Financial Data and Key Metrics Changes - The company achieved a 5.7% growth in AFFO for the year, which is among the best in the net lease industry, reflecting strong performance and record investment activity [4][14] - AFFO per share for Q4 was $1.27, a 5% increase year-over-year, while full-year AFFO totaled $4.97 per share [14] - The total return for shareholders was 25% for the year, placing the company in the top tier of publicly traded REITs [4] Business Line Data and Key Metrics Changes - The company allocated 68% of its investment volume to warehouse and industrial assets, with retail accounting for 22% [7] - The average cash cap rate for investments was 7.6%, translating into an average yield just above 9% over long-term leases averaging 17 years [6] - Contractual same-store rent growth averaged 2.4% for both Q4 and the full year, with CPI-linked rent escalations averaging 2.6% [15][16] Market Data and Key Metrics Changes - 26% of the investment volume was in Europe, while 74% was in North America, predominantly in the U.S. [7] - The company expects cap rates to be incrementally lower in 2026, anticipating going-in cap rates in the mid- to low-7% range compared to 2025's average of 7.6% [11] Company Strategy and Development Direction - The company aims to expand its retail presence, targeting 25%-30% of annual deal volume in retail, including both U.S. and European markets [34] - The Carey Tenant Solutions platform is expected to enhance the company's capabilities in build-to-suit and redevelopment projects, with a focus on increasing the volume of such projects [37][54] - The company plans to maintain a conservative approach to investment volume guidance, starting with a range of $1.25 billion to $1.75 billion for 2026 [11][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining high investment activity and delivering attractive AFFO growth in 2026, supported by a strong funding position [9][30] - The company anticipates a slight increase in contractual same-store rent growth for 2026, with expectations of maintaining portfolio occupancy over 98% [18][21] - Management noted that there are no significant disruptions in the market, and they expect to refine investment guidance as the year progresses [76] Other Important Information - The company successfully refinanced its euro-denominated term loan at an attractive rate below 3% and has a strong liquidity position of $2.2 billion [8][29] - The company has reduced its HELVIG exposure to 1.1% of total ABR by year-end and is actively engaged in transactions to further reduce this exposure [17] Q&A Session Summary Question: Expansion in U.S. retail and other targeted categories - Management indicated that retail accounted for about 22% of deal volume last year, with a goal to increase this to 25%-30% annually, focusing on tenant credit and lease structure [34][35] Question: Growth of Carey Tenant Solutions platform - Management expects the volume of projects under the Carey Tenant Solutions platform to increase, with $50 million completed and another $280 million in construction [36][37] Question: Industrial asset cap rates and competition - Management noted that industrial assets remain core to the business, with expectations of cap rates tightening slightly in 2026, while competition from Realty Income is more pronounced in Europe [41][44] Question: Credit loss estimates - Management set a conservative range for rent loss from tenant credit at $10-$15 million for 2026, with no specific concerns currently in the portfolio [86][90] Question: Debt refinancing strategy - Management plans to refinance upcoming bonds with unsecured debt in the same currencies, with current pricing expectations for euro bonds in the low 4% range [91][92]

Financial Data and Key Metrics Changes - The company achieved a 5.7% growth in AFFO for the year, which is among the best in the net lease industry, reflecting strong performance and record investment activity [4][14] - AFFO per share for Q4 was $1.27, a 5% increase year-over-year, while the full year AFFO totaled $4.97 per share [14] - The total return for shareholders was 25% for the year, placing the company in the top tier of publicly traded REITs [4] Business Line Data and Key Metrics Changes - The company allocated 68% of its investment volume to warehouse and industrial assets, with retail accounting for 22% [7] - The average cash cap rate for investments was 7.6%, translating into an average yield just above 9% over long-term leases averaging 17 years [6] - Contractual same-store rent growth averaged 2.4% for both Q4 and the full year, with CPI-linked rent escalations averaging 2.6% [15][16] Market Data and Key Metrics Changes - 26% of the investment volume was in Europe, while 74% was in North America, predominantly in the U.S. [7] - The company expects cap rates to trend lower in 2026, anticipating going-in cap rates in the mid- to low-7% range compared to 2025's average of 7.6% [11] Company Strategy and Development Direction - The company aims to expand its retail presence, targeting a mix of larger sale-leaseback opportunities and other retail categories [33] - The Carey Tenant Solutions platform is expected to enhance the company's capabilities in build-to-suit and redevelopment projects, with a goal to increase the volume of such projects [36][53] - The company plans to maintain a conservative investment volume guidance of $1.25 billion-$1.75 billion for 2026, with the potential to refine this as visibility improves [11][75] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining high investment activity and delivering attractive AFFO growth in 2026, supported by a strong funding position [9][30] - The company is mindful of potential credit losses, setting a conservative estimate for rent loss from tenant credit at $10 million-$15 million for 2026 [18][86] - Portfolio occupancy increased to 98% by year-end, with expectations to maintain this level through re-leasing and dispositions [18] Other Important Information - The company successfully refinanced its Euro-denominated term loan, locking in an attractive all-in rate below 3% [8] - The liquidity at year-end totaled $2.2 billion, providing ample flexibility for funding investment activities [29] - The quarterly dividend was increased by 4.5% year-over-year to $0.92 per share, supported by a payout ratio of approximately 73% [29] Q&A Session Summary Question: Expansion strategy in U.S. retail - Management indicated that retail accounted for about 22% of deal volume in 2025, with plans to increase this to 25%-30% in the future, focusing on tenant credit and lease structure [33][34] Question: Growth of Carey Tenant Solutions platform - Management noted that they completed about $50 million in projects year-to-date, with another $280 million in construction planned over the next 12-18 months [36] Question: Industrial asset cap rates and competition - Management stated that industrial assets remain a core part of the business, with expectations for cap rates to tighten slightly in 2026 [41][42] Question: Credit loss estimates - Management clarified that the $10 million-$15 million range for credit loss is a conservative estimate with no specific concerns currently in the portfolio [86] Question: Debt refinancing plans - Management confirmed plans to refinance upcoming bond maturities with unsecured debt in the same currencies, with current pricing expectations in the low 4% range for Eurobonds [87][88]

Financial Data and Key Metrics Changes - The company achieved a 5.7% growth in AFFO for 2025, which is among the best in the net lease industry, reflecting strong performance and record investment activity [3][12] - AFFO per share for Q4 was $1.27, a 5% increase year-over-year, while the full year AFFO totaled $4.97 per share [12][14] - The total return for shareholders was 25% for the year, placing the company in the top tier of publicly traded REITs [3] Business Line Data and Key Metrics Changes - The company allocated 68% of its investment volume to warehouse and industrial sectors, with retail accounting for 22% [6] - The average cash cap rate for investments was 7.6%, translating into an average yield just above 9% over long-term leases averaging 17 years [5][12] - Contractual same-store rent growth averaged 2.4% for both Q4 and the full year, with CPI-linked rent escalations averaging 2.6% [14][15] Market Data and Key Metrics Changes - 26% of the investment volume was in Europe, while 74% was in North America, predominantly in the U.S. [6] - The company expects cap rates to be incrementally lower in 2026, anticipating going-in cap rates in the mid- to low-7% range [10][41] Company Strategy and Development Direction - The company aims to continue generating higher investment volumes, with an initial investment volume guidance range of $1.25 billion to $1.75 billion for 2026 [10][19] - The Carey Tenant Solutions platform is expected to enhance the company's capabilities in build-to-suit and redevelopment projects, with a focus on increasing the volume of such projects [9][52] - The company is targeting to increase retail investments to 25%-30% of annual deal volume, focusing on tenant credit and lease structure [33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining high levels of investment activity and delivering attractive AFFO growth in 2026, supported by strong funding positions and a sizable investment pipeline [8][29] - The company is taking a conservative approach to rent loss estimates, projecting $10-$15 million for 2026, while not seeing any material changes in credit quality across the portfolio [17][87] - The company anticipates portfolio occupancy to remain over 98% through a combination of releasing and dispositions [17] Other Important Information - The company successfully refinanced its euro-denominated term loan, locking in an attractive all-in rate below 3% [7] - The company ended the year with liquidity totaling $2.2 billion, including cash on hand and unsettled forward equity [27] - The quarterly dividend was increased by 4.5% year-over-year to $0.92 per share, supported by a payout ratio of approximately 73% [27] Q&A Session Summary Question: Expansion in U.S. retail and targeted categories - Management confirmed that retail accounted for about 22% of deal volume in 2025, with plans to increase this to 25%-30% [33] Question: Industrial asset types and competition - Management indicated that industrial remains a core part of the business, focusing on manufacturing and logistics, with expectations of cap rate tightening [40][41] Question: Development risks associated with Carey Tenant Solutions - Management explained that development risks are mitigated through fixed-price contracts and guaranteed rent start dates [52][53] Question: Credit loss estimates and portfolio management - Management stated that the $10-$15 million range for credit loss is a conservative estimate with no specific concerns in the portfolio at the moment [87] Question: Debt refinancing and overall debt composition - Management confirmed that they have flexibility in refinancing upcoming bonds and will likely replace them with unsecured debt in the same currencies [88][93]

4Q25 W. P. Carey Inc. Investor Presentation 50+ Years of Investing for the Long Run® Table of Contents | Overview | 3 | | --- | --- | | Real Estate Portfolio | 7 | | Balance Sheet | 20 | | Corporate Responsibility | 24 | Unless otherwise noted, all data in this presentation is as of December 31, 2025. Amounts may not sum to totals due to rounding. Overview 3 Company Highlights W. P. Carey (NYSE: WPC) is a REIT that specializes in investing in single-tenant net lease commercial real estate, primarily in the ...

Key Takeaways W.P. Carey posted Q4 AFFO of $1.27, beating estimates as revenues rose 9.4% year over year.WPC saw lease revenues jump 10.7% on strong investments and rent escalations.WPC expects 2026 AFFO of $5.13-$5.23 per share, with up to $1.75B in investments.W.P. Carey (WPC) reported fourth-quarter 2025 adjusted funds from operations (AFFO) per share of $1.27, surpassing the Zacks Consensus Estimate of $1.26. The figure improved 5% from the year-ago quarter.Results reflected higher revenues, aided by st ...

Core Viewpoint - First Tellurium Corp. asserts that there is no negative news impacting its share price, despite shareholder concerns, and emphasizes ongoing positive developments in its thermoelectric technology [1][2] Company Developments - The company is making progress with its subsidiary PyroDelta Energy Corp. on thermoelectric technology and drone applications, which will be showcased at the DARPA Heavy Lift Challenge [2][3] - PyroDelta's proprietary Capillary Casting manufacturing process is expected to create new revenue streams [2] Technology and Competitive Edge - The drone design for the DARPA contest utilizes tellurium-based thermoelectric technology to capture waste heat from the engine for supplemental power, positioning the company competitively within the drone industry and U.S. government [3] - The company is exploring manufacturing opportunities in the thermoelectric sector and anticipates future announcements regarding these developments [3] Industry Engagement - First Tellurium is receiving inquiries from various sectors, including industry, media, and government, indicating growing awareness of its technology [3][4] - The company has engaged with Canadian government officials to discuss the potential of its technology for clean energy applications [4][5] Business Model - First Tellurium's business model focuses on generating revenue through mineral discovery, project development, and the advancement of tellurium-based technologies [5]

I analyze oil and gas companies, related companies, and W. P. Carey in my service, Oil & Gas Value Research, where I look for undervalued names in the oil and gas space. I break down everything you need to know about these companies -- the balance sheet, competitive position and development prospects. This article is an example of what I do. But for Oil & Gas Value Research members, they get it first and they get analysis on some companies that is not published on the free site. Interested? Sign up here for ...