Headquartered in New York, NY Fiscal year ends December NYSE: WPC wpcarey.com
W. P. Carey Inc. is a net lease real estate investment trust (REIT). It owns operationally critical, single-tenant commercial real estate leased to companies under long-term net leases with built-in rent escalations.
As of September 30, 2026, the portfolio comprised:
- 1,755 net lease properties totaling about 189 million square feet;
- 383 tenants;
- a 12.0-year weighted-average lease term and 98.6% occupancy;
- about $1.66 billion of annualized base rent (ABR).
By ABR, the property mix is 39% industrial, 25% warehouse, 22% retail and 14% other. Geographically, 67% of ABR comes from North America (61% U.S., plus Canada and Mexico) and 33% from Europe, with major exposure to Poland, Italy, the Netherlands, the U.K., Germany and Spain. Roughly half of ABR comes from CPI-linked leases and half from fixed rent escalations.
The company originates investments mainly through sale-leasebacks, acquisitions and build-to-suits. Its Carey Tenant Solutions platform handles development, redevelopment and expansion projects, and CareySolar provides on-site renewable energy.
It also owns five operating properties (four hotels and one student housing property). It has exited its self-storage operating portfolio, its office assets and its non-traded REIT advisory business. Funding sources include investment-grade unsecured debt (Baa1/BBB+), much of it euro-denominated, along with forward equity. It measures performance using AFFO (a modified version of NAREIT FFO), adjusted EBITDA and pro rata metrics for its jointly owned investments. Updated
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The Wall Street consensus 12-month price target for WPC is $76.50.
