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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 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.
W. P. Carey Inc. (NYSE: WPC) will announce its financial results for Q4 and the full year ended December 31, 2021, prior to market opening on February 11, 2022. The company will host a conference call at 10:00 a.m. Eastern Time on the same day to discuss these results. With an enterprise value of approximately $20 billion, W. P. Carey is one of the largest net lease REITs, managing a diversified portfolio of 1,264 properties covering around 152 million square feet. The properties are primarily located in the U.S. and Northern and Western Europe.
W. P. Carey Inc. (NYSE: WPC) reported a record $1.73 billion in investment volume for 2021, with $530 million completed in Q4. The company focused on warehouse and industrial assets, which made up about 70% of its total investments. Approximately 60% of the volume was in the U.S. and 40% in Europe. All leases in 2021 featured fixed rent escalations averaging 2.3% and a weighted-average lease term of 20 years. The CEO noted strong momentum for 2022 with a growing pipeline of opportunities.
W. P. Carey Inc. (NYSE: WPC) announced an increase in its quarterly cash dividend from $1.045 to $1.055 per share, marking an annualized rate of $4.22. The dividend will be payable on January 14, 2022 to shareholders of record as of December 31, 2021. The company is one of the largest net lease REITs, holding a diversified portfolio of 1,264 net lease properties covering approximately 152 million square feet, with an enterprise value of about $20 billion.
W. P. Carey reported Q3 2021 results, with net income of $138.5 million and diluted EPS of $0.74. AFFO was $230.7 million, translating to $1.24 per diluted share, a 7.8% increase from Q3 2020. The company affirmed its 2021 AFFO guidance of $4.94 to $5.02 per diluted share. A quarterly dividend of $1.052 was declared, marking an annualized rate of $4.208. The portfolio's occupancy rate stood at 98.4%, with a collection rate exceeding 99.5%. The firm also completed a $350 million green bond offering, supporting its commitment to sustainability.
W. P. Carey Inc. (WPC) will announce its third-quarter financial results for the period ending September 30, 2021 on October 29, 2021. The results will be disclosed before the market opens, followed by a conference call at 10:00 a.m. ET to discuss the findings. As of June 30, 2021, WPC boasts a portfolio of 1,266 net lease properties valued at approximately $21 billion and covering 150 million square feet. The company has a diversified presence in the U.S. and Europe, focusing on long-term leased commercial real estate.
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