Core Viewpoint - W.P. Carey (WPC) reported quarterly funds from operations (FFO) of $1.17 per share, missing the Zacks Consensus Estimate of $1.20 per share, but showing an increase from $1.14 per share a year ago, indicating a -2.50% surprise in FFO performance [1] Financial Performance - The company posted revenues of $407.44 million for the quarter ended March 2025, which was below the Zacks Consensus Estimate by 0.97%, compared to $389.8 million in the same quarter last year [2] - Over the last four quarters, W.P. Carey has surpassed consensus FFO estimates two times and topped consensus revenue estimates two times [2] Stock Performance - W.P. Carey shares have increased approximately 11.5% since the beginning of the year, contrasting with a -6% decline in the S&P 500 [3] - The stock's immediate price movement will largely depend on management's commentary during the earnings call [3] Future Outlook - The current consensus FFO estimate for the upcoming quarter is $1.21, with expected revenues of $412.71 million, and for the current fiscal year, the estimate is $4.83 on $1.67 billion in revenues [7] - The estimate revisions trend for W.P. Carey is currently favorable, leading to a Zacks Rank 2 (Buy) for the stock, suggesting it is expected to outperform the market in the near future [6] Industry Context - The REIT and Equity Trust - Other industry, to which W.P. Carey belongs, is currently ranked in the bottom 38% of over 250 Zacks industries, indicating potential challenges ahead [8]

Exhibit 99.2 W. P. Carey Inc. Supplemental Information First Quarter 2025 Terms and Definitions As used in this supplemental package, the terms "W. P. Carey," "WPC," "we," "us" and "our" include W. P. Carey Inc., its consolidated subsidiaries and its predecessors, unless otherwise indicated. Other terms and definitions are as follows: | REIT | Real estate investment trust | | --- | --- | | U.S. | United States | | ABR | Contractual minimum annualized base rent | | ASC | Accounting Standards Codification | | ...

Core Insights - The article discusses the benefits of investing in Real Estate Investment Trusts (REITs) as a way to generate passive income during retirement without the hassles of property management [2][3]. Group 1: Realty Income - Realty Income is a net lease REIT with a portfolio of 15,621 properties, primarily retail, offering a 5.7% dividend yield [4][6]. - The company has a diversified tenant base, with its three largest tenants contributing only 10% of total rent, which helps mitigate risks [4]. - Realty Income has consistently increased its monthly dividend since its inception, raising it for the 130th quarter in March 2024, with a 3.9% annual growth rate since 2015 [6][7]. Group 2: W.P. Carey - W.P. Carey is a diversified net lease REIT that reduced its quarterly dividend by 19.7% in 2023 due to a spinoff, but has since resumed increasing its payouts [8][9]. - The REIT has a portfolio of 1,555 properties, with its top three tenants accounting for only 7.1% of annualized rent, indicating strong diversification [10]. - W.P. Carey benefits from low borrowing costs, having secured 600 million Euros at a 3.7% interest rate for 10 years, positioning it well for future dividend increases [12].

W. P. Carey (NYSE:WPC) shot up 15% since its 4Q24 earnings on 2/11/25. SA It has since fallen back down on the broader market crash, allowing us to still get in at the cheaper price. It was a small beat of 2 cents, and guidance called for a modest 3% AFFO/share growth in 2025. So why did the stock price move so much? I posit that it is because WPC has found a new growth engine. WPC's Phases WPC is a large and seasoned triple net REIT. Over its history, it has had distinct phases of operations. While managin ...

Core Viewpoint - W.P. Carey (WPC) is expected to report a year-over-year increase in revenues and funds from operations (FFO) per share for the first quarter of 2025, with a core FFO per share of $1.21 in the last quarter, surpassing estimates [1][2]. Financial Performance - The Zacks Consensus Estimate for WPC's lease revenues for the first quarter is $357.5 million, reflecting a growth of 10.9% year-over-year [4]. - The total revenue estimate for the first quarter stands at $418.2 million, indicating a rise of 7.29% from the previous year [4]. - The quarterly FFO per share estimate has been raised by 1 cent to $1.19, suggesting a 4.39% increase year-over-year [5]. Operational Factors - W.P. Carey's diverse, high-quality, single-tenant net lease commercial real estate portfolio is expected to contribute positively to its performance, with higher occupancy rates and better risk-adjusted returns [2][3]. - The company's focus on long-term sale-leaseback transactions with contractual rental increases and strategic portfolio rebalancing is likely to support steady revenue generation [3]. Market Expectations - The company has an Earnings ESP of +0.56% and a Zacks Rank of 2, indicating a strong likelihood of beating FFO estimates this quarter [6]. - Analysts have shown confidence in WPC's performance, as evidenced by the raised consensus estimates [5]. Comparisons with Peers - Other REITs such as Host Hotels & Resorts and Ventas are also expected to report positive surprises, with Earnings ESPs of +2.26% and +0.18%, respectively [7][8].

Core Insights - The article emphasizes the importance of identifying companies with strong growth in revenue, earnings, and free cash flow as key investment criteria [1] - It highlights a preference for companies with excellent growth prospects and favorable valuations, particularly those with high free cash flow margins, dividend stocks, and generous share repurchase programs [1] Summary by Categories Investment Criteria - Companies should demonstrate growth in revenue, earnings, and free cash flow [1] - Favorable valuations are essential for stock selection [1] Company Characteristics - Preference for steadily growing companies with high free cash flow margins [1] - Interest in dividend stocks and those with significant share repurchase programs [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][3] - It emphasizes the importance of conducting individual research before making investment decisions [2]

Group 1 - iREIT+HOYA Capital focuses on income-producing asset classes that provide sustainable portfolio income, diversification, and inflation hedging [1] - The service offers a free two-week trial for potential investors to explore exclusive income-focused portfolios [1] Group 2 - The article emphasizes the importance of making educated guesses in stock pricing, similar to the game show "The Price Is Right" [2] - The author has over 14 years of investment experience and focuses on defensive stocks with a medium- to long-term investment horizon [2]

Group 1 - W. P. Carey (NYSE: WPC) has been a long-term investment that has provided attractive results, despite some miscommunication regarding the exit from office properties, which is viewed as a correct decision [1] - The focus on dividend investing is emphasized as a solid financial strategy, contributing to financial freedom and long-term wealth building [2] - The author has extensive experience in M&A and business valuation, which informs their investment decisions across various sectors including tech, real estate, software, finance, and consumer staples [2] Group 2 - The article expresses a beneficial long position in WPC and BNL, indicating confidence in these investments [3] - The insights shared are based on personal opinions and experiences, with no external compensation influencing the views presented [3]

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