W. P. Carey(US:WPC) ZACKSยท2025-03-25 15:40Core Viewpoint - W.P. Carey (WPC) has shown strong stock performance, with a 12% increase over the past three months, significantly outperforming the industry average of 2% [1] Group 1: Company Overview - W.P. Carey is a real estate investment trust (REIT) focused on long-term sale-leaseback and build-to-suit financing, primarily investing in commercial properties that are typically triple-net leased to single corporate tenants [1] - The company has one of the largest portfolios of single-tenant net lease commercial real estate in the U.S. and Northern and Western Europe, with a portfolio occupancy rate of 98.6% as of December 31, 2024 [4][5] Group 2: Financial Performance - WPC announced a 1.1% dividend increase, raising the first-quarter 2025 cash dividend to 89 cents per share from 88 cents in the previous quarter [2] - The Zacks Consensus Estimate for WPC's 2025 funds from operations (FFO) per share has been revised upward by 1% to $4.84 over the past three months [2] Group 3: Growth and Investment Strategy - In 2024, W.P. Carey acquired 29 properties for $1.4 billion and disposed of 176 properties for $1.2 billion, with estimated total investments for 2025 between $1 billion and $1.5 billion [6] - The company has a strong liquidity position, with total liquidity of $2.6 billion as of December 31, 2024, including $1.9 billion available under its senior unsecured credit facility and $640.4 million in cash [7] Group 4: Dividend Strategy - W.P. Carey reduced its dividend in December 2023 to 86 cents from $1.07 as part of a strategic plan to exit office assets and maintain a lower payout ratio, but has since increased its dividend three times, including the latest hike [8]