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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. (WPC) will release its third quarter 2022 financial results on November 4, 2022, before market opening. The company, a leading net lease REIT with an enterprise value of approximately $25 billion, will host a conference call at 10:00 a.m. Eastern Time to discuss the results. Following its merger with CPA:18 on August 1, 2022, W. P. Carey’s portfolio now includes 1,390 net lease properties and 84 self-storage properties, covering about 170 million square feet. The company’s diversified real estate assets are primarily located in the U.S. and Europe.
W. P. Carey has been upgraded to a Baa1 rating by Moody's Investors Service, reflecting a stable outlook. This upgrade highlights the company’s diversified net lease portfolio, strong capital management, and good liquidity. WPC's properties predominantly comprise industrial, warehouse, and self-storage assets, benefiting from CPI-linked rent escalators that ensure revenue stability. The firm boasts an enterprise value of approximately $25 billion, with a portfolio of 1,390 net lease properties covering around 170 million square feet. This rating improvement underscores WPC's positive trajectory since achieving investment grade in 2014.
W. P. Carey Inc. (NYSE: WPC) announced an increase in its quarterly cash dividend to $1.061 per share, marking an annualized rate of $4.24. This dividend will be paid on October 14, 2022, to stockholders on record as of September 30, 2022. Following the merger with CPA:18 on August 1, 2022, W. P. Carey now boasts a diversified portfolio of 1,390 net lease properties and 84 self-storage properties, covering approximately 170 million square feet. The company’s enterprise value is around $25 billion, bolstering its standing as a major player in the net lease REIT sector.
Rockwell Medical, Inc. (NASDAQ: RMTI) has appointed Heather Hunter as Senior Vice President and Chief Corporate Affairs Officer. Heather brings over 20 years of experience in executive leadership and investor relations, aiming to enhance the company's communications and branding strategies. CEO Mark Strobeck expressed confidence in Heather's capability to drive shareholder value and facilitate profitability as the company expands its product offerings in the healthcare market. Rockwell Medical focuses on products for patients with blood disorders and kidney diseases, including the development of its proprietary Ferric Pyrophosphate Citrate technology.
W. P. Carey Inc. (NYSE: WPC) announced a note purchase agreement to issue a total of €350 million in fixed rate senior unsecured notes. This includes €150 million maturing on September 28, 2029, with an interest rate of 3.41%, and €200 million maturing on September 28, 2032, with an interest rate of 3.70%. The net proceeds will primarily be used to reduce outstanding amounts under its revolving credit facility and may also fund acquisitions and general corporate purposes. The notes are sold under the exemption from registration provided by the Securities Act.
W. P. Carey Inc. (WPC) announced its merger with Corporate Property Associates 18 – Global Incorporated (CPA:18) on August 1, 2022, valued at approximately $2.7 billion. This merger is expected to add $2 billion in real estate assets and is immediately accretive to Real Estate AFFO per share. The merger simplifies WPC by concluding its exit from the non-traded REIT business and enhances its portfolio, including 1,390 net lease properties and 84 self-storage facilities. The company maintains a strong investment-grade balance sheet with no material integration risks.
W. P. Carey reported strong financial results for Q2 2022, with net income of $127.7 million and diluted EPS of $0.66. The company raised its AFFO guidance to between $5.22 and $5.30 per diluted share, supported by a projected investment volume increase to $1.75 billion to $2.25 billion. Revenues rose 7.7% to $344.4 million due to higher lease revenues. A quarterly dividend of $1.059 was declared. The company also announced a merger with CPA®:18, improving its market position amidst inflationary pressures.
W. P. Carey Inc. (NYSE: WPC) announced the approval of its merger with Corporate Property Associates 18 – Global Incorporated (CPA:18) by CPA:18 stockholders. This merger, which does not require approval from W. P. Carey stockholders, is expected to close on August 1, 2022. W. P. Carey is one of the largest net lease REITs, boasting an enterprise value of approximately $22 billion and a portfolio of 1,336 properties across 157 million square feet as of March 31, 2022, primarily located in the U.S. and Europe.
W. P. Carey Inc. (NYSE: WPC) received stockholder approval for its merger with Corporate Property Associates 18 – Global. The merger is expected to close on August 1, 2022. CPA:18 – Global is a non-traded real estate investment trust with a diverse portfolio of commercial properties leased to businesses globally, including self-storage and student housing assets.
W. P. Carey Inc. (NYSE: WPC) will release its Q2 2022 financial results on July 29, 2022, before market opening. The enterprise value of the company is approximately $22 billion, with a diversified portfolio of 1,336 net lease properties spanning 157 million square feet. A conference call will occur the same day at 10:00 a.m. Eastern Time to discuss the results, promoting transparency to investors.
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