W. P. Carey Inc. reported a total revenue of $1.72 billion for the fiscal year ending December 31, 2025, marking a 8.4% increase from $1.58 billion in 2024. The company's net income attributable to W. P. Carey rose slightly to $466.4 million, compared to $460.8 million in the previous year. Adjusted funds from operations (AFFO) also saw an increase, reaching $1.10 billion, up from $1.04 billion in 2024. The company declared total dividends of $3.62 per share, an increase from $3.47 per share in the prior year.
Significant operational changes included the completion of a strategic spin-off of 59 office properties into a new entity, Net Lease Office Properties (NLOP), on November 1, 2023. This move was part of a broader strategy to exit the office asset sector, which also involved an asset sale program that concluded in 2024. The spin-off allowed W. P. Carey to focus on its core business of net-leased commercial real estate, primarily in the industrial and retail sectors.
As of December 31, 2025, W. P. Carey owned 1,682 properties, net-leased to 371 tenants across 25 countries, with a weighted-average lease term of 12 years and an occupancy rate of 98%. The company reported that approximately 61% of its annualized base rent (ABR) was generated from properties in the United States, while 39% came from international locations, primarily in Europe. The company also noted a significant reduction in its operating properties, having sold 63 self-storage facilities and one student housing property during the year.
The filing indicated that the company faced challenges due to inflation and high interest rates, which could impact tenant operations and their ability to pay rent. Approximately 19% of W. P. Carey's leases are set to expire within the next five years, raising concerns about potential difficulties in re-leasing or selling these properties. The company emphasized its commitment to maintaining its status as a Real Estate Investment Trust (REIT) and expects to continue generating stable cash flows to support dividend payments and future growth initiatives.
About W. P. Carey Inc.
W. P. Carey Inc. is a diversified real estate investment trust (REIT) specializing in owning and managing long-term, net-leased commercial properties across the U.S. and Europe. Its portfolio includes industrial, retail, self-storage, hotel, and student housing assets leased to creditworthy tenants. The company focuses on stable cash flow generation, portfolio diversification, and active asset management within a conservative capital structure.
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