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W.P. Carey Inc. - WPC STOCK NEWS

Welcome to our dedicated page for W.P. Carey news (Ticker: WPC), a resource for investors and traders seeking the latest updates and insights on W.P. Carey 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.

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W. P. Carey Inc. (WPC) announced a fourth-quarter investment volume of $320 million at a weighted-average cap rate of 7.7%. An additional $180 million of investments is scheduled to close in January 2024. The company's 2023 full-year investment volume was approximately $1.3 billion, with 75% of investments in single-tenant warehouse and industrial assets. Approximately 80% of the volume was in North America and 20% in Europe.
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W. P. Carey Inc. (WPC) extended its revolver maturity to 2029 and upsized it to $2 billion, while also extending its existing term loan maturities to 2028. The facilities include various improvements to terms and an accordion feature allowing for an increase to $4.35 billion. The company's current BBB+/Baa1 ratings provide for an interest rate on borrowings of 77.5 basis points over the adjusted SOFR rate, enhancing liquidity and external growth opportunities.
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W. P. Carey Inc. (WPC) declared a quarterly cash dividend of $0.860 per share, reflecting the company's strategic plan to exit office assets within its portfolio and a lower payout ratio. The dividend is payable on January 16, 2024, to stockholders of record as of December 29, 2023. W. P. Carey, celebrating its 50th anniversary, ranks among the largest net lease REITs with a well-diversified portfolio of high-quality, operationally critical commercial real estate.
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W. P. Carey Inc. (NYSE: WPC), a net lease real estate investment trust, reported its financial results for Q3 2023. Net income was $125.0 million, diluted earnings per share were $0.58, AFFO was $284.4 million, and AFFO per diluted share was $1.32. The company lowered its 2023 AFFO guidance range to between $5.17 and $5.23 per diluted share and announced preliminary 2024 AFFO guidance of between $4.60 and $4.80 per diluted share. W. P. Carey also announced a strategic plan to exit office assets, completed the spin-off of NLOP, and sold four properties under the Office Sale Program for gross proceeds of $142.5 million.
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W. P. Carey Inc. has completed the spin-off of 59 office properties into Net Lease Office Properties (NLOP), a publicly-traded real estate investment trust. NLOP will be listed on the NYSE under the symbol 'NLOP'. NLOP common shares will begin 'regular way' trading on November 2, 2023. W. P. Carey stockholders received one NLOP common share for every 15 shares of W. P. Carey common stock held. J.P. Morgan served as exclusive financial advisor in connection with the Spin-Off.
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W. P. Carey Inc. to release third quarter 2023 financial results on Friday, November 3, 2023
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W. P. Carey announces record and distribution dates for spin-off of Net Lease Office Properties
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W. P. Carey plans to spin-off 59 office properties into a separate publicly-traded REIT and implement an asset sale program for 87 office properties. The spin-off is expected to close on or around November 1, 2023, and all sales under the program targeted to be completed by January 2024. The spin-off is expected to provide a clear path to monetizing legacy office assets, enhance growth profile, improve earnings and cash flows, and benefit credit profile. NLOP's portfolio will consist of 62 corporate tenants generating ABR of over $141 million. The Office Sale Program represents approximately 5% of W. P. Carey's total ABR.
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W. P. Carey Inc. increases quarterly dividend to $1.071 per share
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W. P. Carey Inc. reports Q2 2023 financial results, with net income of $144.6 million and diluted earnings per share of $0.67. AFFO per diluted share is $1.36. Quarterly cash dividend raised to $1.069 per share. The company expects further deal momentum in the second half of the year and elevated rent growth.
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FAQ

What is the current stock price of W.P. Carey (WPC)?

The current stock price of W.P. Carey (WPC) is $64.73 as of March 3, 2025.

What is the market cap of W.P. Carey (WPC)?

The market cap of W.P. Carey (WPC) is approximately 14.2B.

What does W.P. Carey Inc. specialize in?

W.P. Carey Inc. specializes in long-term sale-leaseback and build-to-suit financing solutions for companies worldwide.

What are the core segments of W.P. Carey Inc.'s operations?

W.P. Carey Inc. organizes its operations into two main segments: Real Estate and Investment Management.

What recent strategic move did W.P. Carey Inc. undertake?

W.P. Carey Inc. completed a spin-off of 59 office properties into Net Lease Office Properties (NLOP) in November 2023.

Where are W.P. Carey Inc.'s offices located?

W.P. Carey Inc. has offices in New York, London, Amsterdam, and Dallas.

How does W.P. Carey Inc. generate most of its income?

Most of W.P. Carey Inc.'s income is generated through lease revenue from long-term agreements with companies.

What type of properties are included in W.P. Carey Inc.'s portfolio?

W.P. Carey Inc.'s portfolio includes single-tenant office, industrial, warehouse, and retail properties.

What is W.P. Carey Inc.'s asset management approach?

W.P. Carey's disciplined corporate finance and real estate underwriting process ensures stable cash flows and consistent dividend income for investors.

What recent achievements has W.P. Carey Inc. reported?

W.P. Carey Inc. reported closing $375 million of investments in early 2024 and building a strong deal pipeline.

What is W.P. Carey Inc.'s focus after exiting the office sector?

After exiting the office sector, W.P. Carey Inc. focuses on investing in single-tenant, industrial, warehouse, and retail properties.

How can investors find more information about W.P. Carey Inc.?

Investors can visit W.P. Carey Inc.'s official website at www.wpcarey.com for more information.
W.P. Carey Inc.

NYSE:WPC

WPC Rankings

WPC Stock Data

14.15B
215.30M
1.21%
69.16%
1.47%
REIT - Diversified
Real Estate Investment Trusts
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United States
NEW YORK