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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 reported strong Q1 2022 results with a net income of $157.0 million, up 204.3% year-over-year. Diluted EPS was $0.82, and the company maintained its 2022 AFFO guidance between $5.18 and $5.30 per share. The quarterly cash dividend was raised to $1.057 per share. The real estate portfolio saw investment volume of $415.4 million year-to-date and a collection rate of over 99.7%. A proposed $2.7 billion merger with CPA:18 is also in progress, expected to close in Q3 2022.
W. P. Carey Inc. (NYSE: WPC) announced it will release its first quarter 2022 financial results before market opening on April 29, 2022. A conference call to discuss these results is set for 10:00 a.m. Eastern Time on the same day. W. P. Carey is a leading net lease REIT with an enterprise value of approximately $22 billion and over 1,304 net lease properties spanning 156 million square feet. The portfolio includes diverse commercial real estate across the U.S. and Europe, enhancing its stability and diversified income streams.
W. P. Carey Inc. (WPC) announced its 2021 CEO Letter to shareholders, highlighting a record investment activity of $1.72 billion and successful capital raising of $2.4 billion. The letter emphasizes WPC's unique positioning with 59% of annual base rent linked to inflation (CPI), bolstering its resilience against rising costs. Additionally, the company has advanced its sustainability initiatives, including a green bond issuance and over 10% of 2021 investments in green-certified properties. CEO Jason Fox expressed confidence in continuing to drive shareholder value through sustained investment and rent growth.
W. P. Carey Inc. (NYSE: WPC) has appointed Constantin H. Beier to its Board of Directors, effective immediately. Beier, currently Chief Data Officer at Aon, brings extensive experience in data management and governance. CEO Jason Fox noted that Beier's multinational background will enhance the board's effectiveness. W. P. Carey is among the largest net lease REITs, with an enterprise value of approximately $22 billion and a portfolio of 1,304 properties covering 156 million square feet.
W. P. Carey reported an increase in its quarterly cash dividend to $1.057 per share, translating to an annualized rate of $4.23. The new dividend is set for payment on April 14, 2022, for stockholders recorded by March 31, 2022. As one of the largest net lease REITs, W. P. Carey boasts an enterprise value of approximately $22 billion and a diversified portfolio comprising 1,304 properties, totaling around 156 million square feet as of December 31, 2021.
W. P. Carey Inc. (NYSE: WPC) announced a definitive merger agreement to acquire Corporate Property Associates 18 – Global Incorporated (CPA:18) in a deal valued at approximately $2.7 billion, including debt. CPA:18 shareholders will receive a fixed exchange ratio of 0.0978 shares of WPC stock and $3.00 in cash per share, totaling an implied value of $10.45 per share. The merger is anticipated to be accretive to WPC's Real Estate AFFO per share and enhance its net lease portfolio. Closing is expected in Q3 2022, pending stockholder approvals and customary conditions.
On February 28, 2022, Corporate Property Associates 18 – Global announced a definitive merger agreement with W. P. Carey Inc. in a transaction valued at approximately $2.7 billion. The merger will provide CPA®:18 stockholders with 0.0978 shares of W. P. Carey common stock and $3.00 in cash for each share, projecting a total value of $10.45 per CPA®:18 share. The merger is expected to close in Q3 2022, pending stockholder approval. The transaction aims to deliver liquidity and continued investment opportunities for CPA®:18 investors.
W. P. Carey Inc. (NYSE: WPC) announced that CEO Jason Fox will participate in a roundtable discussion at the 2022 Citi Global Property CEO Conference on March 8, 2022, from 1:15 p.m. to 1:50 p.m. ET. The event will be live-streamed, with an audio replay available on the company’s website. W. P. Carey is a prominent net lease REIT with an enterprise value of approximately $22 billion, holding 1,304 properties across 156 million square feet as of December 31, 2021. Its diversified portfolio includes industrial, office, retail, and self-storage properties, primarily located in the U.S. and Western Europe.
W. P. Carey reported its Q4 and full-year 2021 results, showing a net income of $99.6 million for Q4, down 26% year-over-year, and $410.0 million for the full year, a 10% decline. AFFO increased to $1.30 per diluted share in Q4, up 8.3%, with full-year AFFO at $5.03, reflecting 6.1% growth. The company raised its 2022 AFFO guidance to $5.18-$5.30 per share. A quarterly dividend of $1.055 per share was declared, equating to an annualized rate of $4.220. Investment activity peaked at $1.72 billion in 2021, with a portfolio occupancy rate of 98.5%.
W. P. Carey Inc. (NYSE: WPC) announced the income tax treatment of its 2021 dividends via Form 1099-DIV. Shareholders are advised to consult tax advisors for their specific cases. Key details include:
- Record dates: 12/31/20, 3/31/21, 6/30/21, 9/30/21
- Payment dates: 1/15/21, 4/15/21, 7/15/21, 10/15/21
- Distribution per share: between $1.0460 and $1.0520
W. P. Carey, a leading net lease REIT, reported an enterprise value of approximately $20 billion and manages a diversified portfolio of 1,264 net lease properties across 152 million square feet.
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