W. P. Carey Announces Fourth Quarter and Full Year 2025 Financial Results

Core Viewpoint - W. P. Carey Inc. reported strong financial results for the fourth quarter and full year 2025, highlighting significant growth in net income and adjusted funds from operations (AFFO), alongside a record annual investment volume, indicating a solid foundation for future growth [1][2]. Financial Highlights - Net income attributable to W. P. Carey for Q4 2025 was $148.3 million, a 215.5% increase from $47.0 million in Q4 2024 [1]. - Full year net income for 2025 totaled $466.4 million, up 1.2% from $460.8 million in 2024 [1]. - AFFO for Q4 2025 was $1.27 per diluted share, a 5.0% increase from $1.21 per diluted share in Q4 2024 [1]. - Full year AFFO for 2025 was $4.97 per diluted share, up 5.7% from $4.70 per diluted share in 2024 [1][2]. Dividend Information - The company declared a quarterly cash dividend of $0.920 per share for Q4 2025, representing a 4.5% increase year-over-year [1]. - Total dividends declared during 2025 amounted to $3.620 per share, a 3.7% increase compared to $3.490 per share in 2024 [2]. Real Estate Portfolio - Contractual same-store rent growth was reported at 2.4% year-over-year [2]. - The company completed a record annual investment volume of $2.1 billion in 2025, with Q4 investments totaling $625.1 million [1][2]. - As of December 31, 2025, the net lease portfolio consisted of 1,682 properties covering approximately 183 million square feet, with an occupancy rate of 98.0% [2]. Balance Sheet and Capitalization - Total liquidity as of December 31, 2025, was $2.2 billion, including $1.6 billion available under the Senior Unsecured Credit Facility [2]. - The company sold 6,258,496 shares of common stock under its ATM program in 2025, generating approximately $422.6 million in gross proceeds [2]. Management Commentary - The CEO emphasized that 2025 was a year of meaningful progress, with strong performance and a solid foundation for sustainable growth [1]. - The company anticipates maintaining an internal growth rate among the best in the net lease sector, contributing significantly to overall AFFO growth [1].