W. P. Carey Inc. (WPC)
NYSE:WPC
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Earnings Data
Report Date
Jul 24, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.63Last Year’s EPS
0.25Same Quarter Last Year
Based on 10 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong positive momentum: significant investment activity (≈$680M closed YTD), a materially increased full‑year investment guidance ($1.5–$2.0B), AFFO per share growth (+11.1% YoY) with upgraded full‑year AFFO guidance, robust capital markets execution (≈$2B accessed, liquidity ≈$2.8B), high occupancy (98.1%), and an increased dividend. Challenges were present but generally manageable: comprehensive same‑store growth lagged contractual growth due to vacancy, near‑term redevelopment and demolition costs, a modest watchlist of tenants (Hellweg, Cornerstone), disposition timing uncertainty, and continued elevated but targeted leverage (net debt/EBITDA ~5.3–5.7x). Overall positives — growth, balance sheet actions, and capital deployment visibility — materially outweighed the near‑term operational and modest credit/headline risks.Company Guidance
Raised Investment Volume Guidance
Full-year investment volume guidance increased from an initial $250 million to a new range of $1.5 billion to $2.0 billion, driven by ~ $680 million of investments completed year-to-date and a pipeline of over $5 billion with clear visibility into well over $1 billion.
Strong AFFO Growth and Upgraded AFFO Guidance
AFFO per share for Q1 was $1.30, up $0.13 or 11.1% year-over-year. Full-year AFFO per share guidance raised to $5.16–$5.26, implying ~4.8% growth at the midpoint and a $0.03 increase to the midpoint of guidance.
Robust Capital Markets Execution and Liquidity
Accessed close to $2.0 billion of capital during the quarter including a €1.0 billion Eurobond (two €500M tranches at 3.25% and 3.75%) and forward equity sales (~6.9M shares gross $497M). Ending liquidity of approximately $2.8 billion (including credit availability, cash, and unsettled forward equity).
Attractive Investment Yields and Cap Rate Profile
Closed transactions year-to-date averaged a 7.2% cap rate (blended toward bottom of target range) and the company expects an average full-year cap rate around 7.5%. New investments continue to achieve average yields of ~9% over long lease terms.
Portfolio Performance and Occupancy
Portfolio occupancy of 98.1% at quarter end (up slightly from Q4). Contractual same-store rent growth of 2.4% year-over-year in Q1, with contractual and CPI-linked escalations averaging 2.4%.
Accretive Dispositions and Reinvestment
Q1 dispositions generated gross proceeds of $163 million, including sale of 11 remaining operating self-storage properties for $75 million. Exit from operating self-storage produced aggregate proceeds of ~ $860 million at an average cap rate just below 6%, with proceeds recycled into higher-yielding investments.
High-Quality Deal Flow by Property Type and Geography
YTD investment mix weighted ~60% warehouse/industrial and ~40% retail (notably a Go Auto sale-leaseback in Canada). Geographic mix of closed deals YTD: ~50% Europe, ~30% Canada, remainder U.S.; pipeline roughly two-thirds U.S. and one-third Europe overall.
Dividend Increase and Conservative Payout
Quarterly dividend increased 4.5% year-over-year to $0.93 per share, maintaining a payout ratio of 72% and an annualized dividend yield of over 5% based on current stock price.
Capital Projects and Proprietary Deal Flow
Completed four capital projects in Q1 totaling $68 million and have 11 projects totaling approximately $280 million delivering over the next 12 months. These projects are generating cap rates incrementally higher than YTD investments and are a growing proprietary source of deal flow through the Carey Tenant Solutions initiative.
WPC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
WPC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 29, 2026 | $72.06 | ― | ― |
Feb 10, 2026 | $71.59 | $71.29 | -0.43% |
Oct 28, 2025 | $64.28 | $64.45 | +0.26% |
Jul 30, 2025 | $61.09 | $61.55 | +0.77% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does W. P. Carey Inc. (WPC) report earnings?
W. P. Carey Inc. (WPC) is schdueled to report earning on Jul 24, 2026, Before Open (Confirmed).
What is W. P. Carey Inc. (WPC) earnings time?
W. P. Carey Inc. (WPC) earnings time is at Jul 24, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is WPC EPS forecast?
WPC EPS forecast for the fiscal quarter 2026 (Q2) is 0.63.