W. P. Carey Inc. WPC
W. P. Carey is recognized as a leading net lease Real Estate Investment Trust (REIT), boasting an enterprise value of approximately $18 billion. As of September 30, 2020, its extensive portfolio comprises 1,215 essential net lease properties, spanning an estimated 142 million square feet of commercial real estate. For nearly five decades, the company has strategically invested in high-quality, single-tenant industrial, warehouse, office, retail, and self-storage assets. These properties are secured by long-term net leases, which incorporate built-in rent increases. The portfolio's primary geographical footprint is in the United States, along with Northern and Western Europe, and it exhibits strong diversification across tenant profiles, property categories, locations, and the industries of its occupants.
Business overview written from the company's own Form 10-K (Item 1), filed 2026-02-11 — refreshed whenever it files a new one. The figures above are current; see its SEC filings. ✓ From the 10-K
Plain-English: the Snapshot is the quick read — what it pays you (yield, dividend), how its cash flow looks (FFO/AFFO, Price/OCF) and how much debt it carries. Switch to Expert in the header to hide these explanations.
Snapshot
Reported FFO / AFFO / leverage are from the Q1 2026 earnings release (filed 2026-04-28) — 8-K, EX-99.1 ✓ Verified to filing.
Yield uses the latest declared dividend, annualized (latest regular payout × frequency; special/liquidating distributions excluded) — an announced-but-not-yet-declared change isn't reflected until it has an ex-date. FFO, AFFO and Net debt / Adj. EBITDA are the company's reported figures from its latest earnings 8-K. Price/OCF and payout use GAAP operating cash flow. NAV premium and credit ratings have no free source yet. See Methodology.
$10,000 invested
Illustrative income only, at today's price and latest declared dividend — it excludes price changes, dividend cuts and taxes. Not a forecast.
Model WPC yourself — any amount, shares, per-payment & a multi-year DRIP projection →
Balance sheet (latest FY: 2025)
Debt-maturity ladder, fixed/floating split, secured/unsecured and coverage ratios come from the supplemental — not yet ingested.
Financial history
| FY | Revenue | Net income | D&A | EBITDA | Op. cash flow |
|---|---|---|---|---|---|
| 2025 | $1.72B | $466.36M | $521.13M | $1.32B | $1.28B |
| 2024 | $1.58B | $460.84M | $512.73M | $1.31B | $1.83B |
| 2023 | $1.74B | $708.33M | $607.58M | $1.44B | $1.07B |
| 2022 | $1.47B | $599.14M | $562.99M | $1.29B | $1.00B |
| 2021 | $1.26B | $409.99M | $547.63M | $1.16B | $926.48M |
| 2020 | $1.17B | $455.36M | $508.95M | $1.04B | $801.54M |
Dividends
Recent regular dividends per share (special distributions excluded), oldest → newest.
| Ex-date | Record | Payment | Declared | Amount | Freq. |
|---|---|---|---|---|---|
| 2026-06-30 | 2026-06-30 | 2026-07-15 | 2026-06-11 | $0.94 | Quarterly |
| 2026-03-31 | 2026-03-31 | 2026-04-15 | 2026-03-12 | $0.93 | Quarterly |
| 2025-12-31 | 2025-12-31 | 2026-01-15 | 2025-12-15 | $0.92 | Quarterly |
| 2025-09-30 | 2025-09-30 | 2025-10-15 | 2025-09-18 | $0.91 | Quarterly |
| 2025-06-30 | 2025-06-30 | 2025-07-15 | 2025-06-12 | $0.90 | Quarterly |
| 2025-03-31 | 2025-03-31 | 2025-04-15 | 2025-03-13 | $0.89 | Quarterly |
| 2024-12-31 | 2024-12-31 | 2025-01-15 | 2024-12-12 | $0.88 | Quarterly |
| 2024-09-30 | 2024-09-30 | 2024-10-15 | 2024-09-19 | $0.88 | Quarterly |
| 2024-06-28 | 2024-06-28 | 2024-07-15 | 2024-06-13 | $0.87 | Quarterly |
| 2024-03-27 | 2024-03-28 | 2024-04-15 | 2024-03-14 | $0.86 | Quarterly |
| 2023-12-28 | 2023-12-29 | 2024-01-16 | 2023-12-07 | $0.86 | Quarterly |
| 2023-09-28 | 2023-09-29 | 2023-10-16 | 2023-09-14 | $1.07 | Quarterly |
| 2023-06-29 | 2023-06-30 | 2023-07-14 | 2023-06-15 | $1.07 | Quarterly |
| 2023-03-30 | 2023-03-31 | 2023-04-14 | 2023-03-09 | $1.07 | Quarterly |
| 2022-12-29 | 2022-12-30 | 2023-01-13 | 2022-12-08 | $1.06 | Quarterly |
| 2022-09-29 | 2022-09-30 | 2022-10-14 | 2022-09-15 | $1.06 | Quarterly |
| 2022-06-29 | 2022-06-30 | 2022-07-15 | 2022-06-16 | $1.06 | Quarterly |
| 2022-03-30 | 2022-03-31 | 2022-04-14 | 2022-03-10 | $1.06 | Quarterly |
| 2021-12-30 | 2021-12-31 | 2022-01-14 | 2021-12-08 | $1.05 | Quarterly |
| 2021-09-29 | 2021-09-30 | 2021-10-15 | 2021-09-16 | $1.05 | Quarterly |
| 2021-06-29 | 2021-06-30 | 2021-07-15 | 2021-06-17 | $1.05 | Quarterly |
| 2021-03-30 | 2021-03-31 | 2021-04-15 | 2021-03-11 | $1.05 | Quarterly |
| 2020-12-30 | 2020-12-31 | 2021-01-15 | 2020-12-09 | $1.05 | Quarterly |
| 2020-09-29 | 2020-09-30 | 2020-10-15 | 2020-09-17 | $1.04 | Quarterly |
Coverage (payout of operating cash flow): 64.83%. Tax-character split (ordinary / 199A / capital gain / return of capital) — not disclosed (requires the annual allocation release).
Recent news — WPC
Is WPC Stock Worth Retaining in Your Portfolio for the Long Run?
W. P. Carey Earns 2026 Great Place to Work Certification™ in the U.S., the Netherlands and the U.K.
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W. P. Carey to Release Second Quarter 2026 Financial Results on Tuesday, July 28, 2026
W. P. Carey Releases 2025 Corporate Responsibility Report
W. P. Carey Announces Pricing of $350 Million of Senior Unsecured Notes
W. P. Carey: 5% Yield, 11% AFFO Growth, And BBB+ Balance Sheet
Headlines via Financial Modeling Prep; links open the original publisher in a new tab. Not an endorsement or investment advice.
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Same-store NOI, occupancy, leasing/WALT, top tenants, external-manager fees, development pipeline and (for non-traded vehicles) share-class fees, redemption/gating and NAV methodology are planned modules sourced from supplementals and prospectuses.