Core Viewpoint - W. P. Carey Inc. reported its financial results for Q4 and the full year of 2024, highlighting a strategic exit from the office sector and a strong investment volume, while also providing cautious guidance for 2025 due to market uncertainties [1][4][5]. Financial Highlights - Net income attributable to W. P. Carey for Q4 2024 was $47.0 million, a decrease of 67.4% from $144.3 million in Q4 2023 [8]. - Full year net income totaled $460.8 million, down 34.9% from $708.3 million in 2023 [15]. - Diluted earnings per share for Q4 was $0.21, and for the full year, it was $2.09 [2][15]. - Adjusted Funds from Operations (AFFO) for Q4 was $1.21 per diluted share, up 1.7% from $1.19 in Q4 2023, while for the full year, it was $4.70 per diluted share, down 9.3% from $5.18 in 2023 [9][16]. Revenue and Dispositions - Q4 revenues, including reimbursable costs, were $406.2 million, a decrease of 1.5% from $412.4 million in Q4 2023 [13]. - Full year revenues totaled $1.58 billion, down 9.2% from $1.74 billion in 2023 [14]. - The company completed record investment volume of $841.3 million in Q4, bringing total investment volume for 2024 to $1.6 billion [7][22]. - Disposition proceeds for Q4 were $118.8 million, totaling $1.2 billion for the full year [7][23]. Dividend Information - The quarterly cash dividend was increased to $0.880 per share, equivalent to an annualized rate of $3.52 per share, paid on January 15, 2025 [10]. - Total dividends declared during 2024 were $3.490 per share, a decrease of 14.2% compared to $4.067 in 2023 [17]. Real Estate Portfolio - As of December 31, 2024, the net lease portfolio consisted of 1,555 properties covering approximately 176 million square feet, with a weighted-average lease term of 12.3 years and an occupancy rate of 98.6% [25]. - Contractual same-store rent growth was reported at 2.6% year over year [24]. Balance Sheet and Capitalization - Total liquidity as of December 31, 2024, was $2.6 billion, including approximately $1.9 billion of available capacity under its Senior Unsecured Credit Facility and $640.4 million in cash [26]. - The company issued €600 million of 3.700% Senior Unsecured Notes due 2034 and repaid $450 million of 4.0% Senior Unsecured Notes due February 2025 [7][29].

Core Viewpoint - W.P. Carey offers a high dividend yield of 6.3%, significantly above the S&P 500's 1.2% and the average REIT's 3.8%, raising questions about the underlying risks associated with this investment opportunity [1] Dividend History - A dividend cut occurred at the start of 2024, which may deter conservative investors, but the dividend was subsequently increased in the following quarter and has continued to rise every quarter since [2][3] Portfolio Strategy - The decision to exit the office sector, which represented 16% of rents, was made to enhance the long-term outlook of the REIT amidst a downturn in that sector [3] - The exit from the office sector has provided W.P. Carey with cash to invest in new opportunities, with a record dollar volume of deals in Q4 2024 setting the stage for growth in 2025 [6] Financial Position - Rising interest rates present a challenge for W.P. Carey, increasing its cost of capital and complicating growth efforts, as REITs typically need to issue debt and equity for acquisitions [4] - Despite these challenges, the REIT's diversified portfolio across industrial (35%), warehouse (28%), and retail (12%) sectors, along with its geographical exposure (64% North America, 36% Europe), positions it favorably [7] Investment Consideration - The dividend reset may exclude W.P. Carey from some investors' portfolios, but the overall strategic decisions have potentially improved its standing as a net lease REIT [8][9] - The combination of diversification, a return to dividend growth, and anticipated financial performance improvements in 2025 may make W.P. Carey an attractive investment while shares are priced below $60 [9]

NEW YORK, Jan. 31, 2025 /PRNewswire/ -- W. P. Carey Inc. (W. P. Carey, NYSE: WPC) announced the income tax treatment of dividends reported on Form 1099-DIV for 2024. Stockholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of W. P. Carey dividends.CUSIP 92936U109 FORM 1099-DIV Box 1a Box 2a Box 3 Box 1b Box 2b Box 2f Box 5 Record Date PaymentDate DistributionPer Share OrdinaryDividends Capital Gain Distributions Nondividend Distributions ...

Core Points - W. P. Carey Inc. will release its financial results for Q4 and the full year ended December 31, 2024, after market close on February 11, 2025 [1] - A conference call and live audio webcast to discuss these results is scheduled for February 12, 2025, at 11:00 a.m. Eastern Time [2] Company Overview - W. P. Carey ranks among the largest net lease REITs with a diversified portfolio of high-quality commercial real estate, including 1,430 net lease properties covering approximately 172 million square feet and 78 self-storage operating properties as of September 30, 2024 [3] - The company focuses 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 [3]

The primary goal of the Cash Flow Kingdom Income Portfolio is to produce an overall yield in the 7% - 10% range. We accomplish this by combining several different income streams to form an attractive, steady portfolio payout. The portfolio's price can fluctuate, but the income stream remains consistent. Start your free two-week trial today!W. P. Carey Inc. (NYSE: WPC ) is a real estate investment trust with a solid and low-risk business model. Portfolio restructuring has resulted in lower profits in 2024, b ...

Company Overview - W. P. Carey (NYSE: WPC) is a Real Estate Investment Trust (REIT) known for its diversified commercial real estate portfolio, which includes industrial, warehouse, retail, and office properties [1]. Dividend Strategy - The company has implemented a dividend cut that began in 2023 and continued into 2024, indicating a shift in its financial strategy [1]. Investment Philosophy - The investment approach emphasizes long-term ownership of stocks rather than short-term price predictions, focusing on valuations rather than target prices [1]. - The company has transitioned from issuing many Sell recommendations to a simplified approach of "Buy or Don't Buy," with future articles likely to be categorized as Buy or Hold [1].

Group 1 - The focus is on growth and dividend income as a strategy for retirement planning [1] - The portfolio is structured to generate monthly dividend income that grows through reinvestment and annual increases [1] Group 2 - The article expresses personal opinions and is not intended as investment advice [2] - It emphasizes the importance of conducting individual research before making investment decisions [2]

After 24 consecutive annual dividend increases, W.P. Carey (WPC 1.81%) did something that seemed unthinkable -- it cut its dividend by 20%. That decision, which was made in 2023 but impacted the first dividend in 2024, has resulted in dividend investors avoiding this net lease real estate investment trust (REIT).That could be a buying opportunity if you have $1,000 or $100,000 to invest right now. Here's what you need to know.What did W.P. Carey do?At its core, W.P. Carey uses the fairly simple net lease ap ...

Core Viewpoint - W.P. Carey is currently undervalued, offering a 6.6% yield despite a 40% decline in share price since 2019, making it an attractive option for passive income seekers [1][3]. Group 1: Stock Price Pressure - W.P. Carey faced stock price pressure due to its decision to spin off its office segment in late 2023, which led to a reduction in dividend payouts [3][4]. - The company’s dividend was lowered by 19.7% to $0.86 per share in 2023, contributing to investor caution [9]. - Rising Treasury yields, which increased by 27.9% since mid-September 2023, have made reliable dividend stocks like W.P. Carey less attractive [5][6]. Group 2: Financial Performance - In Q3 2024, W.P. Carey reported adjusted funds from operations (FFO) of $1.18 per share, only 12% lower than the previous year [8]. - The REIT raised its dividend payout four times in 2024 to $0.88 per share, indicating a recovery and potential for future increases [9][10]. - The company invested $1.6 billion in 2024 into single-tenant warehouse and industrial properties, which is expected to enhance future FFO [10][11]. Group 3: Investment Outlook - W.P. Carey is positioned to support future dividend increases due to sufficient earnings and a growing portfolio [11]. - The current high yield makes it a compelling option for income-seeking investors, even with a slower growth rate [12].

Shares of W.P. Carey (WPC -1.64%) declined 15.9% in 2024, according to data from S&P Global Market Intelligence. That significantly underperformed the S&P 500, which gained 23.3% on the year. Here's a look at what weighed on the diversified REIT last year and whether it can bounce back in 2025.Tearing down to build back betterW.P. Carey made a major strategy shift in late 2023. The REIT decided to exit the challenging office sector by spinning off and selling its office portfolio. As a result of that move a ...