W. P. Carey(US:WPC) ZACKS·2025-10-29 15:51Core Insights - W.P. Carey (WPC) reported a third-quarter 2025 adjusted funds from operations (AFFO) per share of $1.25, exceeding the Zacks Consensus Estimate of $1.23, and reflecting a 5.9% year-over-year increase [1][10] - The company raised its full-year 2025 AFFO per share guidance due to higher expected investment volume and lower potential rent loss from tenant credit events [8][10] Financial Performance - Quarterly revenues reached $429 million, surpassing the Zacks Consensus Estimate of $422.2 million, marking an 8.7% increase year over year [2][10] - Lease revenues increased by 11.4% year over year to $372.1 million, driven by net investment activity and rent escalations [3][10] - Income from finance leases and loans receivable saw significant year-over-year growth, primarily due to net investment activity [3] Investment Activity - The total investment value for the quarter was $656.4 million, with 29 properties sold for gross proceeds of $495.2 million [5] - As of October 28, 2025, the company has five capital investments and commitments totaling $67.1 million scheduled for completion in 2025, and six commitments totaling $181 million to be completed by the first quarter of 2027 [5] Balance Sheet and Liquidity - As of September 30, 2025, WPC had total liquidity of $2.1 billion, which includes approximately $1.6 billion available under its senior unsecured credit facility, $249 million in cash and cash equivalents, and $64.1 million in cash held at qualified intermediaries [7] 2025 Outlook - W.P. Carey has raised its guidance for 2025 AFFO per share to a range of $4.93 to $4.99, up from the previous range of $4.87 to $4.95 [8] - The company expects an investment volume between $1.8 billion and $2.1 billion and a disposition volume between $1.3 billion and $1.5 billion for 2025 [8]