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W.P. Carey Inc. (NYSE: WPC) is a leading global net-lease real estate investment trust (REIT) specializing in long-term sale-leaseback and build-to-suit financing solutions. With an enterprise value of approximately $10.4 billion as of September 30, 2015, W.P. Carey boasts a diverse portfolio encompassing single-tenant office, industrial, warehouse, and retail properties predominantly located in the U.S., Western Europe, and Northern Europe. Celebrating its 50th anniversary, the company manages a series of non-traded publicly registered investment programs with assets under management of about $10.5 billion.
W.P. Carey organizes its operations into two main segments: Real Estate and Investment Management. The Real Estate segment, generating the majority of the company's income, derives lease revenue from long-term agreements with creditworthy tenants, thereby ensuring stable cash flows. The company's real estate portfolio includes 1,424 net lease properties covering approximately 173 million square feet and a portfolio of 89 self-storage operating properties as of December 31, 2023.
The company's Investment Management unit offers real estate advisory and portfolio management services to other REITs, contributing significantly to its revenue.
W.P. Carey is known for its disciplined corporate finance and real estate underwriting process, which has been successfully applied across various industries and property types. This strategy has enabled the company to deliver consistent and increasing dividend income to investors for over four decades.
In recent developments, W.P. Carey completed the spin-off of 59 office properties into Net Lease Office Properties (NLOP), a separate publicly traded REIT, on November 1, 2023. This strategic move is part of W.P. Carey's plan to exit the office sector, focusing more on high-quality, operationally critical commercial real estate including industrial, warehouse, and retail properties with long-term leases.
The company continues to make significant strides in its growth strategy. For instance, W.P. Carey reported a productive start to 2024 with $375 million in closed investments and a robust deal pipeline. The company's focus remains on leveraging its liquidity and strong rent escalations to generate future growth and maintain a diversified portfolio.
With offices in New York, London, Amsterdam, and Dallas, W.P. Carey is well-positioned to capitalize on opportunities in the global real estate market. Visit www.wpcarey.com for more information.
W. P. Carey Inc. (NYSE: WPC) announced a public offering of 4,500,000 shares of common stock, with an option for underwriters to purchase an additional 675,000 shares. Proceeds will be used for future investments, debt repayment (including $1.8 billion credit facility), and general corporate purposes. The offering is facilitated by J.P. Morgan and Barclays as joint book-running managers. The shares are expected to be settled within 18 months and are covered by a registration statement under the Securities Act.
W. P. Carey reported strong second-quarter results for 2021, with net income of $120.2 million, a 14.2% increase from the previous year. Diluted EPS rose to $0.67, driven by higher lease revenues and a robust collection rate of 99%. The company raised its AFFO guidance for the year to between $4.94 and $5.02 per diluted share, reflecting increased investment expectations. A quarterly cash dividend of $1.05 per share was declared. Investment activity remained strong, with $780 million in second-quarter acquisitions.
W. P. Carey Inc. (NYSE: WPC) will announce its financial results for the second quarter on July 30, 2021, before market opening. The company will conduct a conference call to discuss the results at 10:00 a.m. Eastern Time on the same day. With an enterprise value of approximately $19 billion, W. P. Carey holds a diversified portfolio of 1,261 net lease properties totaling around 146 million square feet as of March 31, 2021. The properties are primarily located in the U.S. and Europe, covering various sectors including industrial and retail.
W. P. Carey Inc. (NYSE: WPC) announced an increase in its quarterly cash dividend to $1.05 per share, marking an annualized rate of $4.20. This dividend will be payable on July 15, 2021, to stockholders of record as of June 30, 2021. The company, with an enterprise value of approximately $19 billion, holds a diversified portfolio of 1,261 net lease properties across 146 million square feet. Its investments span various sectors, primarily located in the U.S. and Europe, ensuring robust tenant and property diversification.
W. P. Carey Inc. (NYSE: WPC) announced three significant industrial investments totaling $137 million, covering approximately 2 million square feet. These investments include:
- $49 million in Alabama for a logistics facility leased to JOANN.
- $45 million in New York for a distribution center leased to Orgill.
- $43 million for a logistics portfolio in Chicago and Toronto.
The year-to-date investment volume now stands at $900 million, with a weighted-average lease term of approximately 22 years.
W. P. Carey Inc. (NYSE: WPC) has completed a public offering of 6,037,500 shares of common stock, raising approximately $454.6 million. The funds will primarily be used to repay amounts under its $1.8 billion unsecured revolving credit facility, support development activities, and for general corporate purposes. The offering included forward sale agreements with BofA Securities, J.P. Morgan, and Wells Fargo Securities, with settlements expected within 18 months.
W. P. Carey Inc. (NYSE: WPC) announced the pricing of a public offering of 5,250,000 shares of common stock, aiming for gross proceeds of approximately $395.3 million. Underwriters have a 30-day option for an additional 787,500 shares. Proceeds will fund potential investments, repay debt including $1.8 billion of unsecured revolving credit, and for general corporate purposes. The company entered into forward sale agreements with underwriters expected to settle within 18 months.
W. P. Carey Inc. (NYSE: WPC) announced a public offering of 5,250,000 shares of common stock, with an option for underwriters to purchase up to 787,500 additional shares. Proceeds will be used for future investments, repayment of debt under its $1.8 billion unsecured revolving credit facility, and general corporate purposes. The offering is supported by forward sale agreements with underwriters BofA Securities, J.P. Morgan, and Wells Fargo Securities. Settlement is anticipated within 18 months, with the company obligated to issue the shares at a cash payment equal to the forward sale price.
W. P. Carey Inc. (NYSE: WPC) announced that CEO Jason Fox will present at Nareit's REITweek: 2021 Virtual Investor Conference on June 10, 2021, from 11:15 a.m. to 11:45 a.m. ET. The session is accessible via webcast, with a replay available on the company's Investor Relations page. The conference spans from June 8 to June 10, featuring virtual meetings with investors and analysts. W. P. Carey is a major net lease REIT with an enterprise value of approximately $19 billion and a diverse portfolio of 1,261 properties covering 146 million square feet, primarily located in the U.S. and Europe.
On May 17, 2021, W. P. Carey (NYSE: WPC) announced four significant investments totaling $170 million, encompassing approximately 1.1 million square feet. These properties, leased to industry-leading tenants, have an average lease term of 16 years. Year-to-date investments now reach $765 million, with a weighted-average lease term of 22 years. The portfolio includes a cutting-edge food production facility, R&D site for Velodyne Lidar, a light manufacturing facility for KDC, and a student housing asset leased to Monroe College.
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