W. P. Carey Inc. files its 2025 annual report outlining its net‑lease real estate business, portfolio, capital structure, and key risks. The internally managed REIT owns 1,682 net-leased properties plus 16 operating assets totaling about 183 million square feet, with approximately 98.0% net-lease occupancy.
As of December 31, 2025, around 61% of contractual annualized base rent came from U.S. properties and 33% from Europe, with 39% of ABR from assets outside the United States. The tenant base spans 371 tenants, with a weighted-average lease term of 12.0 years and 99.7% of leases including rent escalators.
The company highlights its sale-leaseback focus, diversification strategy, proactive asset management, and a $2.0 billion unsecured revolving credit facility. Consolidated indebtedness was approximately $8.7 billion, a debt-to-gross assets ratio of about 43.4%. W. P. Carey also details extensive risk factors, REIT qualification considerations, cybersecurity governance, and human capital programs. As of February 6, 2026, there were 219,145,876 common shares outstanding and the aggregate market value of non-affiliate equity was $13.6 billion at the most recent second-quarter measurement date.
W. P. Carey Inc. managing director Gregory Jeremiah reported equity compensation activity in company common stock. On February 6, 2026, he acquired 5,846 shares at $0 upon vesting of performance share units originally granted on January 24, 2023. On the same date, 2,440 shares were withheld at $71.21 per share to cover tax liabilities related to this vesting and settlement. Following these transactions, he directly held 96,705.789 shares of W. P. Carey common stock.
W. P. Carey Inc. managing director Gordon G. Brooks reported equity compensation activity in company stock. On February 6, 2026, he acquired 6,139 shares of common stock at $0 per share, reflecting the vesting of performance share units granted on January 24, 2023 with a three‑year performance cycle.
On the same date, 2,558 shares were withheld at $71.21 per share to cover tax liabilities arising from that vesting and settlement. After these transactions, Brooks directly beneficially owned 173,157.31 shares of W. P. Carey common stock.
W. P. Carey Inc. Managing Director Gino M. Sabatini acquired 7,893 shares of common stock on February 6, 2026 through the vesting of performance share units. These units were granted on January 24, 2023 with a three-year performance cycle, and the underlying shares will be paid at the end of a deferral period he selected.
Following this transaction, Sabatini directly holds 643,179.67 shares of W. P. Carey common stock. In addition, 1,404 shares are held indirectly by his son, 169,749 shares are held indirectly through Sabatini 2020 LP, and 847.9463 shares are held indirectly by his daughter.
W. P. Carey Inc. CFO ToniAnn Sanzone reported an acquisition of 11,401 shares of Common Stock on February 6, 2026. The shares were acquired at a price of $0.00 per share, reflecting the vesting of performance share units granted on January 24, 2023, after a three-year performance cycle. Following this vesting, Sanzone beneficially owns 186,269 shares of W. P. Carey Common Stock in direct ownership form.
W. P. Carey Inc.’s CEO and President Jason E. Fox reported the vesting of 38,006 shares of Common Stock on February 6, 2026. The shares were acquired at a price of $0 as a result of performance share units granted on January 24, 2023, following a three-year performance cycle.
After this vesting, he beneficially owns 948,956 shares of Common Stock directly. The filing also lists indirect beneficial holdings of 1,280.4043 shares held by his son and 89.6019 shares held by his daughter, reflecting family-related ownership positions.
W. P. Carey Inc. reported solid fourth quarter and full‑year 2025 results and issued initial 2026 AFFO guidance. For Q4 2025, net income attributable to W. P. Carey was $148.3 million, or $0.67 per diluted share, and AFFO was $281.1 million, or $1.27 per diluted share, up 5.0% year over year.
For full‑year 2025, net income attributable to W. P. Carey was $466.4 million and AFFO was $1,098.2 million, or $4.97 per diluted share. The company announced 2026 AFFO guidance of $5.13–$5.23 per diluted share, based on anticipated investment volume of $1.25–$1.75 billion. In 2025 it achieved record annual investment volume of $2.1 billion and gross disposition proceeds of $1.5 billion, while contractual same‑store rent grew 2.4%.
Balance sheet metrics as of December 31, 2025 show equity market capitalization of $14.1 billion, net debt of $8.65 billion, enterprise value of $22.75 billion, and net debt to adjusted EBITDA of 5.9x (5.6x including unsettled forward equity). The quarterly cash dividend was $0.920 per share (annualized $3.68), a 4.5% increase year over year, with a 2025 dividend payout ratio of 72.8% of AFFO.
W. P. Carey Inc. reported that Managing Director Gregory Jeremiah received an equity award in the form of restricted share units. On January 21, 2026, he was granted 10,058 RSUs tied to the company’s common stock at a grant price of $0 per unit as part of compensation. These RSUs will vest in three equal annual installments starting on February 15, 2027 and ending on February 15, 2029, and each RSU converts into one share of common stock when it vests. Following this grant, Jeremiah beneficially owns 93,299.789 shares of W. P. Carey common stock in direct ownership.
W. P. Carey Inc. Managing Director Gordon G. Brooks received equity compensation in the form of common stock and restricted share units. On January 21, 2026, he acquired 7,184 shares of common stock and an additional 2,873 RSU-linked shares at a price of $0 per share as part of compensation awards.
The RSUs were granted under W. P. Carey’s Amended and Restated 2017 Share Incentive Plan and are scheduled to vest in three equal annual installments from February 15, 2027 through February 15, 2029, converting one-for-one into common shares at vesting. Following these transactions, Brooks beneficially owned a total of 169,576.31 shares of common stock, which includes 7,589.9848 shares previously acquired through a dividend reinvestment program. The share balance was also adjusted to correct an administrative error.
W. P. Carey Inc. CFO ToniAnn Sanzone received an equity grant of 13,795 restricted share units (RSUs) on Common Stock at a price of $0 per unit. These RSUs were granted under the company’s Amended and Restated 2017 Share Incentive Plan and are scheduled to vest in three equal annual installments on February 15, 2027, February 15, 2028, and February 15, 2029. Each RSU converts into one share of W. P. Carey common stock upon vesting. After this award and an administrative adjustment, Sanzone beneficially owns 174,868 common shares directly, including 177 shares acquired through the company’s Employee Stock Purchase Plan.