W. P. Carey (WPC) Q3 2026 Earnings
How Did WPC Stock React to Q3 2026 Earnings?
Did WPC Beat Earnings? Q3 2026 Results
Yes. W. P. Carey reported Q3 2026 earnings of $1.33 a share on Oct 27, 2026, beating the $0.66 consensus estimate by 101.6%. Revenue was $468.3M against a $459.7M estimate.
W. P. Carey delivered a standout third quarter of 2026, with adjusted AFFO of $1.33 per diluted share beating the $0.66 consensus estimate by 101.58%, while revenue of $468.30 million edged past the $459.75 million consensus by 1.86%, even as total revenue fell 28.7% year over year largely reflecting the company's exit from self-storage operations following the sale of dozens of properties in 2025 and early 2026. The headline AFFO gain, up from $1.25 a year earlier, was driven primarily by accretive net investment activity and built-in rent escalations, with year-to-date investments reaching roughly $1.60 billion at a 7.5% going-in cap rate and a 19-year weighted average lease term. GAAP net income held essentially flat at $140.95 million, as a much smaller gain on property sales and a $35.80 million unrealized loss on Lineage shares weighed on reported results. On the strength of the quarter, management raised its 2026 AFFO guidance to $5.23 to $5.29 per diluted share, implying 5.8% growth at the midpoint, and lifted the low end of its investment volume range to $1.80 billion.
- Accretive net investment activity and contractual rent escalations drove 6.4% AFFO per share growth
- Lease revenues increased primarily due to net investment activity
- Contractual same-store rent growth of 2.6% year over year on a constant currency basis
- Lower impairment charges offset a lower gain on sale of real estate in GAAP net income
- Operating property revenues declined following sale of the self-storage operating portfolio
- Settlement of forward equity partly offset AFFO growth
“We've executed at a high level over the first nine months, with investment activity near record levels, strong portfolio performance and best-in-class rent growth all supporting our expectation that AFFO per share growth will approach 6% this year.”
W. P. Carey CEO, on the earnings call
What Is W. P. Carey's Outlook?
W. P. Carey raised and narrowed its 2026 AFFO guidance to $5.23–$5.29 per diluted share, from $5.19–$5.27, implying 5.8% year-over-year growth at the midpoint. The change reflects a more favorable outlook for potential rent loss and lower projected tax expense, partly offset by one-time rent abatements expected mainly in the fourth quarter. Other updated assumptions: - Investment volume: $1.8–$2.1 billion (low end raised by $100 million). - Disposition volume: $350–$450 million. - G&A expense: $104–$106 million. - Property expenses: $54–$57 million. - AFFO tax expense: $40–$43 million. About $95.2 million of capital projects are scheduled to complete in the fourth quarter of 2026. A further $204.8 million is scheduled for 2027 and $25.2 million for 2028. Management expects AFFO per share growth to approach 6% this year and sees a path to the top half of the investment range. It is encouraged by asset repricing heading into next year.
WPC YoY Financials
| Metric | Q3 2026 | Q3 2025 | Year over year |
|---|---|---|---|
| Revenue | $468.3M | $656.4M | −28.7% |
| Net Income | $141.0M | $141.0M | −0.0% |
WPC Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.