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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) 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.
W. P. Carey Inc. announced the pricing of a public offering of $350 million in 2.450% Senior Notes due 2032, marking its debut green bond issuance. The Notes are priced at 99.048% of the principal amount, with interest payable semi-annually starting February 1, 2022. The net proceeds are intended for financing eligible green projects as defined in the company's Green Financing Framework, aligned with the ICMA Green Bond Principles 2021. The offering is expected to settle on October 15, 2021. Joint book-running managers include J.P. Morgan and RBC Capital Markets.
W. P. Carey Inc. (NYSE: WPC) has announced an increase in its quarterly cash dividend to $1.052 per share, reflecting an annualized rate of $4.21. This dividend will be payable on October 15, 2021, to stockholders of record as of September 30, 2021. As one of the largest net lease REITs, W. P. Carey holds an enterprise value of approximately $21 billion and boasts a diversified portfolio of 1,266 net lease properties across 150 million square feet as of June 30, 2021.
On September 13, 2021, W. P. Carey (NYSE: WPC) announced investments totaling approximately $200 million, focusing on high-quality Class-A warehouse facilities. These investments are part of a broader strategy that has seen $1.2 billion invested year-to-date, with 70% in industrial and warehouse assets. Key acquisitions include a $114 million warehouse in Indiana leased to a major consumer goods company, a $27 million temperature-controlled facility in Minneapolis, and a $25 million redevelopment in Pennsylvania. The company manages a portfolio valued at $21 billion.
W. P. Carey has successfully closed its public offering of 5,175,000 shares of common stock, raising gross proceeds of $403.65 million. The funds are intended for future investments, repaying debt from a $1.8 billion revolving credit facility, and fulfilling general corporate needs. This offering included the full exercise of underwriters' options, with J.P. Morgan and Barclays as joint book-running managers. The settlement of forward sale agreements is expected within 18 months, allowing the company to leverage new capital for growth.
W. P. Carey Inc. has priced an underwritten public offering of 4,500,000 shares of common stock, aiming for gross proceeds of $351 million. The offering includes a 30-day option for underwriters to purchase an additional 675,000 shares. The company plans to utilize the proceeds for potential future investments, repaying debt including amounts from its $1.8 billion unsecured revolving credit facility, and for general corporate purposes. The offering is managed by J.P. Morgan and Barclays, with anticipated physical settlement within 18 months.
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