W.P. Carey Inc. Stock Price, News & Analysis

W. P. Carey Inc. (NYSE: WPC) reported third-quarter 2020 financial results, revealing a net income of $149.4 million or $0.85 per diluted share, marking a significant increase from $41.3 million in Q3 2019. Adjusted Funds from Operations (AFFO) were $1.15 per diluted share, down 11.5% year-over-year. The company reinstated its AFFO guidance for 2020, projecting between $4.65 and $4.75 per diluted share. A cash dividend of $1.044 per share was declared. The rent collection rate stood at 98% for the quarter, showcasing robust portfolio resilience amid the pandemic.

W. P. Carey Inc. (NYSE: WPC) will release its third-quarter financial results on October 30, 2020, before market opening. A conference call is scheduled for the same day at 10:00 a.m. Eastern Time. As of June 30, 2020, the company boasts an enterprise value of approximately $18 billion and a diversified portfolio of 1,216 net lease properties covering about 142 million square feet. W. P. Carey has focused on high-quality single-tenant properties under long-term net leases, primarily located in the U.S. and Europe.

W. P. Carey Inc. (NYSE: WPC) has priced a public offering of $500 million of 2.400% Senior Notes due 2031. The Notes are offered at 99.099% of the principal amount, with interest paid semi-annually starting February 1, 2021. Expected settlement date is October 14, 2020. Proceeds will be used to repay debt, fund future acquisitions, and for general corporate purposes. This offering is led by Wells Fargo Securities, J.P. Morgan, and U.S. Bancorp.

Investors should read the prospectus supplement for comprehensive details.

W. P. Carey (NYSE: WPC) has announced a $40 million sale-leaseback deal for a 622,000-square-foot light manufacturing facility near Chicago's O'Hare Airport, leased to Weber-Stephen Products LLC for 15 years. Weber-Stephen, a leading global manufacturer of grills, has invested over $28 million in the facility since 2014, emphasizing its strategic importance. The lease includes built-in annual rent escalations, supporting W. P. Carey's financial stability and growth strategy. The company, valued at about $18 billion, boasts a diversified portfolio of over 1,200 properties.

W. P. Carey Inc. (NYSE: WPC) announced a $44 million sale-leaseback of two food manufacturing facilities in the Midwest, totaling over 350,000 square feet. The long-term lease, spanning 25 years, is with a leading food manufacturer and includes built-in rent escalations. The company, operational for over 40 years, serves over 130 customers, including major U.S. grocers, and has a diversified product line. This transaction highlights W. P. Carey's role as a reliable partner in providing capital solutions amidst challenging economic conditions.

On September 18, 2020, W. P. Carey (NYSE: WPC) announced the appointment of Tonit M. Calaway to its Board of Directors. Calaway, currently the Executive Vice President and Chief Legal Officer at BorgWarner, brings extensive experience from the automotive and industrial sectors. Her prior roles include Chief Human Resources Officer at BorgWarner and leadership positions at Harley-Davidson. This strategic addition is expected to enhance W. P. Carey's growth and ESG initiatives, with Calaway expressing admiration for the company's commitment to shareholders and communities.

W. P. Carey Inc. (NYSE: WPC) announced a **quarterly cash dividend increase** to **$1.044 per share**, with an annualized rate of **$4.18 per share**. The dividend is payable on **October 15, 2020**, to stockholders of record as of **September 30, 2020**. As one of the largest net lease REITs, W. P. Carey operates a diversified portfolio of **1,216 properties** across **142 million square feet**, focusing on **industrial, warehouse, office, retail,** and **self-storage properties**. The company has maintained its strong position in the market for over four decades.

W. P. Carey Inc. (NYSE: WPC) reported Q2 2020 financial results, posting a net income of $105.3 million ($0.61 per diluted share) and an AFFO of $197.9 million ($1.14 per diluted share). The quarterly cash dividend was raised to $1.042 per share, with an annual rate of $4.168. Rent collections were strong, at 96% for Q2 and 98% for July. However, AFFO guidance for 2020 remains withdrawn. The company completed $148.2 million in investments during the quarter, with a portfolio occupancy rate of 98.9% and a weighted average lease term of 10.7 years.

W. P. Carey Inc. (NYSE: WPC) announced the release of its second-quarter financial results for the period ended June 30, 2020, scheduled for July 31, 2020, before market opens. The company is a leading net lease real estate investment trust with an enterprise value of approximately $16 billion. As of March 31, 2020, it owns 1,215 properties covering around 141 million square feet. A conference call will follow at 10:00 a.m. ET the same day to discuss the results.