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

The W. P. Carey Foundation has committed an additional $25 million to Arizona State University's W. P. Carey School of Business, bringing their lifetime commitment to over $100 million. This investment will expand the school's real estate programs, including:

1. Launching an undergraduate real estate degree program in fall 2025
2. Elevating the W. P. Carey Center for Real Estate and Finance
3. Introducing an experiential learning lab for real estate
4. Allocating dedicated physical space for the center and lab
5. Attracting leading faculty in real estate research and practice

The funding also establishes a Distinguished Chair in Real Estate and Finance and creates an executive director role for the newly named center. This partnership aims to strengthen real estate education and research at ASU, recognizing the industry's importance in economic development.

W. P. Carey Inc. (NYSE: WPC) reported its Q2 2024 financial results, with net income of $142.9 million and AFFO of $257.1 million ($1.17 per diluted share). The company revised its 2024 AFFO guidance to $4.63-$4.73 per diluted share, based on anticipated investment volume of $1.25-$1.75 billion. WPC completed $641.0 million in investments year-to-date and $152.2 million in dispositions during Q2. The company effectively completed its strategic plan to exit office assets and refinanced its 2024 bond maturities. WPC declared a quarterly cash dividend of $0.870 per share, equivalent to an annualized rate of $3.48 per share.

W. P. Carey Inc. (NYSE: WPC), a leading net lease REIT, has announced the release of its second quarter 2024 financial results on Tuesday, July 30, 2024, after market close. The company will host a conference call and live audio webcast to discuss these results on Wednesday, July 31, 2024, at 11:00 a.m. Eastern Time.

W. P. Carey is among the largest net lease REITs, with a diverse portfolio of 1,282 net lease properties covering approximately 168 million square feet and 89 self-storage operating properties as of March 31, 2024. The company focuses on investing in single-tenant industrial, warehouse, and retail properties in the U.S. and Northern and Western Europe under long-term net leases with built-in rent escalations.

W. P. Carey (NYSE: WPC), a prominent net lease REIT, announced that John Park will step down as President effective September 30, 2024. He will continue as a Senior Advisor through February 2025 and serve as a Trustee of Net Lease Office Properties (NYSE: NLOP) and the W. P. Carey Foundation. The President role will be absorbed by CEO Jason Fox. Park, who joined the company in 1987, played a key role in significant transactions, including mergers and the company's REIT conversion. CEO Jason Fox praised Park's 37-year contribution to W. P. Carey's growth from a private asset manager to a leading publicly traded REIT.

W. P. Carey, a leading net lease REIT, announced it has earned the 2024 Great Place to Work Certification in both the U.S. and the Netherlands. This recognition is based on employee feedback, with 100% of U.S. respondents and 98% of European respondents highlighting the company as a great place to work. Additionally, W. P. Carey was named one of the 2024 Fortune Best Workplaces in New York. The certification reflects the firm’s commitment to a positive employee experience and culture. Key survey findings include high marks for inclusivity, ethical management, and a welcoming environment.

W. P. Carey Inc. (NYSE: WPC) has announced the pricing of a $400 million public offering of 5.375% Senior Unsecured Notes due 2034, sold at 98.843% of the principal amount. The notes will have semi-annual interest payments starting on December 30, 2024. The offering is expected to close on June 28, 2024, pending standard closing conditions. The proceeds will be used for general corporate purposes such as future investments, including acquisitions and development, and to repay existing debt. BofA Securities, J.P. Morgan, PNC Capital Markets, and U.S. Bancorp Investments are acting as joint book-running managers. Potential investors can access more information on the SEC's EDGAR database.

W. P. Carey (NYSE: WPC) announced an increase in its quarterly cash dividend to $0.870 per share, equating to an annualized rate of $3.48 per share. This new dividend will be payable on July 15, 2024, to stockholders recorded by June 28, 2024. As of March 31, 2024, W. P. Carey is one of the largest net lease REITs, owning 1,282 net lease properties totaling around 168 million square feet and 89 self-storage properties. With offices in New York, London, Amsterdam, and Dallas, the company focuses on single-tenant, industrial, warehouse, and retail properties in the U.S. and Northern and Western Europe.

W. P. Carey (NYSE: WPC), a leading net lease REIT, announced new investments totaling $258 million. This includes $142 million in recently completed investments and $116 million in future commitments. Year-to-date investments total approximately $700 million, with an active pipeline of over $300 million in deals. Notable transactions include the $74 million acquisition of 10 industrial facilities and commitments to acquire an additional nine properties for $116 million by August 2024. Additionally, W. P. Carey acquired three properties in Arizona for $68 million. CEO Jason Fox emphasized that these investments align with the company's full-year guidance.

The company's portfolio includes 1,282 net lease properties and 89 self-storage operations, totaling around 168 million square feet. W. P. Carey focuses on single-tenant, industrial, warehouse, and retail properties in the U.S. and Europe, with long-term net leases.

W. P. Carey (NYSE: WPC), a prominent net lease REIT, has published its 2023 ESG Report, highlighting significant progress across environmental, social, and governance initiatives. The report adheres to TCFD and GRI standards. Key achievements include over 50% tenant enrollment in electricity reporting, debut publication of Scope 1 and 2 emissions data, and Green Lease Leader Gold recognition for the third year. W. P. Carey executed 45 green leases in 2023, covering 13.8 million square feet. The company was also certified as a Great Place to Work® and recognized for employee health programs by the American Heart Association. Additionally, W. P. Carey maintained the highest ISS QualityScore Governance Rating of "1".