Summary of W. P. Carey (WPC) 2025 Conference Call Company Overview - W. P. Carey is the second largest net lease REIT, ranking in the top 25 of all REITs by market cap with a current market cap of approximately $14 billion and an enterprise value of about $22 billion [4][5] - The company has been investing in net lease properties for over 50 years and has a diversified portfolio primarily in single-tenant net lease properties, including industrial, warehouse, and retail properties [4][5] - Approximately two-thirds of the portfolio is in North America, with the majority in the U.S., and one-third in Europe, focusing on developed countries in Northern and Western Europe [6][7] Financial Performance and Growth Drivers - W. P. Carey aims for growth through two main drivers: same-store bumps and external spread investing [7] - The company has an investment-grade balance sheet rated BBB+ by Moody's and A- by S&P, with well-laddered debt maturities and no need to access capital markets in 2025 [8] - The company plans to sell a non-core portfolio of assets, primarily operating self-storage, to fund its investment program [8][9] Investment Activity and Market Conditions - The investment market is currently strong, with expectations of continued activity despite potential tariff impacts [11][12] - Year-to-date, W. P. Carey has completed $450 million in deals and anticipates a total deal volume visibility of $570 million, trending towards the higher end of its initial guidance of $1 billion to $1.5 billion for the year [16][17] - The average cap rate for new deals is expected to be in the mid-7% range, consistent with previous years [13][14] Returns and Yield Expectations - The company targets initial cash yields in the mid-7% range, with average yields over the life of leases projected to be in the 9% range due to contractual increases and CPI-based escalators [20][21] - The GAAP cap rate is noted to be above 9%, contributing to internal growth [22] Capital Structure and Cost of Debt - W. P. Carey has a weighted average cost of debt around 3%, benefiting from lower euro bond rates compared to U.S. debt [25] - The company has a construction loan yielding 6% and a significant stake in Lineage, valued at approximately $250 million, providing additional capital sources [57][58] Tenant and Portfolio Management - The company has expanded its disclosure of tenant quality, now reporting on the top 25 tenants [66] - Recent tenant issues include a bankruptcy case with Hearth, which continued to pay rent during bankruptcy, and a restructuring with True Value, which has maintained 100% rent payments [67][68][70] - W. P. Carey is actively managing exposure to Helveg, a struggling retailer in Germany, with plans to reduce exposure and retenant properties [73][74] Future Outlook - The company expects to generate at least $100 million in proceeds from the sale of non-core assets, with a disposition guidance range of $500 million to $1 billion [52][59] - W. P. Carey is focused on maintaining long lease terms, typically between 15 to 25 years, providing visibility into cash flows and downside protection [48][49] Conclusion - W. P. Carey is well-positioned for growth in 2025, with a strong investment pipeline, diversified portfolio, and effective management of tenant relationships and capital sources, despite facing some challenges in specific tenant situations [62][64]

Company Overview - W.P. Carey Inc. is one of the largest net-lease real estate investment trusts (REIT) with a diverse portfolio of operationally critical commercial real estate [11] - The company invests in properties that are generally triple-net leased to single corporate tenants, including warehouse, industrial, retail, and self-storage facilities in the United States and Northern and Western Europe [11] Investment Ratings - W.P. Carey is currently rated 2 (Buy) on the Zacks Rank, indicating a favorable investment outlook [12] - The company has a VGM Score of B, which combines value, growth, and momentum indicators [12] Performance Metrics - W.P. Carey has a Momentum Style Score of B, with shares increasing by 1.2% over the past four weeks [12] - For fiscal 2025, three analysts have revised their earnings estimate upwards in the last 60 days, with the Zacks Consensus Estimate increasing by $0.06 to $4.88 per share [12] - The company boasts an average earnings surprise of 0% [12] Investment Recommendation - With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, W.P. Carey should be on investors' short lists for potential investment opportunities [13]

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 ...

Core Viewpoint - W.P. Carey (WPC) is strategically positioned to leverage its high-quality, mission-critical, diversified portfolio of single-tenant net-lease commercial real estate, primarily in the U.S. and Northern and Western Europe, with a focus on long-term sale-leaseback transactions that ensure steady revenue generation [1] Financial Performance - In Q1 2025, W.P. Carey reported an adjusted FFO per share of $1.17, slightly below the Zacks Consensus Estimate of $1.19, but reflecting a 2.6% improvement year-over-year [2] - The Zacks Consensus Estimate for WPC's 2025 AFFO per share has been revised upward by 1% to $4.88 over the past month, with WPC shares rising 2.5% in the last three months, outperforming the industry growth of 0.4% [3] Portfolio Strength - W.P. Carey boasts one of the largest portfolios of single-tenant net lease commercial real estate, focusing on high-quality assets critical to tenant operations [4] - The company specializes in sale-leaseback transactions, achieving a portfolio occupancy rate of 98.3% as of March 31, 2025, which supports better risk-adjusted returns [5] Revenue Generation - The portfolio is diversified across tenants, industries, property types, and geographies, with the top 10 tenants accounting for 19.2% of annualized base rent (ABR). The company experienced a contractual same-store rent growth of 2.4% in Q1 2025 [6] Expansion Strategy - In Q1 2025, W.P. Carey invested $275.1 million primarily through sale-leaseback transactions and disposed of nine assets valued at approximately $129.8 million [7] - For 2025, management anticipates total investments between $1 billion and $1.5 billion and total dispositions between $500 million and $1 billion, focusing on non-core assets to fund value-accretive investments [8] Balance Sheet and Liquidity - As of March 31, 2025, W.P. Carey had total liquidity of $2.0 billion, including $1.8 billion available under its senior unsecured credit facility and $187.8 million in cash. The pro rata net debt to adjusted EBITDA ratio stood at 5.8X, with investment-grade ratings of BBB+ from S&P and Baa1 from Moody's [10] Dividend Policy - W.P. Carey reduced its dividend to $0.86 in December 2023 from $1.07, a strategic move to exit office assets. The company has since maintained a disciplined capital distribution strategy, increasing its dividend three times, indicating sustainability in the current operating environment [11][12]

Group 1 - The article discusses the investment analysis of W. P. Carey (WPC) stock, focusing on market sentiment and the Graham Number [1] - Sensor Unlimited, an economist with a PhD, specializes in financial economics and has a decade of experience covering the mortgage market, commercial market, and banking industry [2] - The investment group Envision Early Retirement, led by Sensor Unlimited, offers solutions for high income and growth through dynamic asset allocation, including two model portfolios for different investment strategies [1][2]

Back in early March of this year, one company that I decided to revisit was W. P. Carey (NYSE: WPC ), a REIT that focuses on owning and leasing out single tenant industrial, warehouse, retail, and self-storage facilities toCrude Value Insights offers you an investing service and community focused on oil and natural gas. We focus on cash flow and the companies that generate it, leading to value and growth prospects with real potential.Subscribers get to use a 50+ stock model account, in-depth cash flow analy ...

Investors interested in REIT and Equity Trust - Other stocks are likely familiar with W.P. Carey (WPC) and CubeSmart (CUBE) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revisi ...

Core Insights - Zacks Premium offers various tools to enhance stock market investment confidence and knowledge [1] - The Zacks Style Scores are designed to complement the Zacks Rank, providing additional stock ratings based on value, growth, and momentum [3][4][5][6][7] Zacks Style Scores - The Style Scores categorize stocks into four types: Value Score, Growth Score, Momentum Score, and VGM Score, each focusing on different investment strategies [4][5][6][7] - Value Score emphasizes finding undervalued stocks using financial ratios [4] - Growth Score assesses a company's financial health and future growth potential [5] - Momentum Score identifies trends in stock price and earnings estimates to optimize timing for investments [6] - VGM Score combines all three styles to highlight stocks with the best overall potential [7] Zacks Rank - The Zacks Rank is a proprietary model that utilizes earnings estimate revisions to guide investors in stock selection [8] - Stocks rated 1 (Strong Buy) have historically achieved an average annual return of +25.41% since 1988, significantly outperforming the S&P 500 [9] - There are over 800 stocks rated 1 or 2, which can make selection challenging [10] Stock Highlight: W.P. Carey Inc. - W.P. Carey Inc. is a leading net-lease REIT with a diverse portfolio of commercial real estate [12] - The company is rated 2 (Buy) on the Zacks Rank and has a VGM Score of A, indicating strong investment potential [13] - W.P. Carey has a Momentum Style Score of B, with shares increasing by 4.3% over the past four weeks [13] - Recent upward revisions in earnings estimates for fiscal 2025 suggest positive momentum, with the Zacks Consensus Estimate rising by $0.02 to $4.84 per share [13][14]

Core Viewpoint - Investing in W.P. Carey provides an opportunity for passive income through its high-yield real estate investment trust (REIT) structure, which offers a nearly 6% yield compared to the S&P 500's sub-1.5% dividend yield [2] Group 1: Company Overview - W.P. Carey owns a diversified portfolio of 1,614 high-quality commercial properties across North America and Europe, including industrial, warehouse, and retail spaces, secured by long-term net leases [3] - The REIT's net lease portfolio generates stable and growing rental income, with half of its leases linked to inflation and 47% raising rents at a fixed rate [4] Group 2: Financial Strategy - W.P. Carey aims to distribute 70% to 75% of its stable cash flow as dividends while retaining the remainder for reinvestment in income-generating real estate [5] - The company has invested $1.6 billion in new properties last year and plans to invest between $1 billion and $1.5 billion this year, with $448.6 million already completed [8] Group 3: Growth and Dividend Policy - Rising rental income from existing properties and strategic investments in new properties provide a solid growth base for W.P. Carey [6] - The company has increased its dividend by 2.9% over the past year and aims to grow its payout in line with its adjusted funds from operations (FFO), which rose by 2.6% in the first quarter [9]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 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 45-4549771 (State or other jur ...