Welcome to our dedicated page for W.P. Carey (REIT) news (Ticker: WPC), a resource for investors and traders seeking the latest updates and insights on W.P. Carey (REIT) stock.
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) has announced the pricing of a $400 million public offering of 5.375% Senior Unsecured Notes due 2034, sold at 98.843% of the principal amount. The notes will have semi-annual interest payments starting on December 30, 2024. The offering is expected to close on June 28, 2024, pending standard closing conditions. The proceeds will be used for general corporate purposes such as future investments, including acquisitions and development, and to repay existing debt. BofA Securities, J.P. Morgan, PNC Capital Markets, and U.S. Bancorp Investments are acting as joint book-running managers. Potential investors can access more information on the SEC's EDGAR database.
W. P. Carey (NYSE: WPC) announced an increase in its quarterly cash dividend to $0.870 per share, equating to an annualized rate of $3.48 per share. This new dividend will be payable on July 15, 2024, to stockholders recorded by June 28, 2024. As of March 31, 2024, W. P. Carey is one of the largest net lease REITs, owning 1,282 net lease properties totaling around 168 million square feet and 89 self-storage properties. With offices in New York, London, Amsterdam, and Dallas, the company focuses on single-tenant, industrial, warehouse, and retail properties in the U.S. and Northern and Western Europe.
W. P. Carey (NYSE: WPC), a leading net lease REIT, announced new investments totaling $258 million. This includes $142 million in recently completed investments and $116 million in future commitments. Year-to-date investments total approximately $700 million, with an active pipeline of over $300 million in deals. Notable transactions include the $74 million acquisition of 10 industrial facilities and commitments to acquire an additional nine properties for $116 million by August 2024. Additionally, W. P. Carey acquired three properties in Arizona for $68 million. CEO Jason Fox emphasized that these investments align with the company's full-year guidance.
The company's portfolio includes 1,282 net lease properties and 89 self-storage operations, totaling around 168 million square feet. W. P. Carey focuses on single-tenant, industrial, warehouse, and retail properties in the U.S. and Europe, with long-term net leases.
W. P. Carey (NYSE: WPC), a prominent net lease REIT, has published its 2023 ESG Report, highlighting significant progress across environmental, social, and governance initiatives. The report adheres to TCFD and GRI standards. Key achievements include over 50% tenant enrollment in electricity reporting, debut publication of Scope 1 and 2 emissions data, and Green Lease Leader Gold recognition for the third year. W. P. Carey executed 45 green leases in 2023, covering 13.8 million square feet. The company was also certified as a Great Place to Work® and recognized for employee health programs by the American Heart Association. Additionally, W. P. Carey maintained the highest ISS QualityScore Governance Rating of "1".
W. P. Carey Inc. announced the pricing of €650 million in Senior Unsecured Notes with an annual interest rate of 4.250% due in 2032. The Notes were offered at 99.526% of the principal amount and are expected to settle on May 16, 2024. The net proceeds will be used for general corporate purposes and to repay debts. Merrill Lynch International, Barclays Bank PLC, RBC Europe , and Wells Fargo Securities International acted as joint book-runners for the offering.
W. P. Carey Inc. reported their financial results for the first quarter of 2024, highlighting a net income of $159.2 million, diluted earnings per share of $0.72, and AFFO of $251.9 million. The company affirmed its 2024 AFFO guidance of $4.65 to $4.75 per diluted share and completed $374.5 million in real estate investments year to date. They also repaid $500 million of senior unsecured notes due 2024.
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