Companies /Real Estate

W. P. Carey Inc

NYSE: WPC Reit - Diversified
$66.53
▼ $0.07 (−0.10%) today
Markets closed · 5:23pm ET

Q1 2026 Earnings

Reported Apr 28, 2026, 4:09pm ET · SEC source
$1.30
Beat +107.40%
EPS · est. $0.63 Adjusted
$454.5M
Beat +1.64%
Revenue · est. $447.2M
−5.5%
Trailing market
WPC vs S&P since report
2 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−0.7%0+0.7%Apr 28Apr 29report 4:09pm ETearnings+0.2%−0.8%
−0.7%0+0.7%Apr 28Apr 29earnings+0.2%−0.8%
WPC −0.8%S&P 500 +0.2%
−0.7%0+0.7%Apr 28Apr 29report 4:09pm ETearnings+1.2%−0.8%
−0.7%0+0.7%Apr 28Apr 29earnings+1.2%−0.8%
WPC −0.8%NASDAQ +1.2%
0+2%Apr 27May 6report 4:09pm ETearnings+3.1%+1.6%
0+2%Apr 27May 6earnings+3.1%+1.6%
WPC +1.6%S&P 500 +3.1%
0+2%+4%+6%Apr 27May 6report 4:09pm ETearnings+5.7%+1.6%
0+2%+4%+6%Apr 27May 6earnings+5.7%+1.6%
WPC +1.6%NASDAQ +5.7%
−0.83%
Day of report
+1.21%
Next session
+2.48%
One week
+1.12%
30 days

S&P 500 over the same 30 days: +6.60%.

Did WPC Beat Earnings? Q1 2026 Results

W. P. Carey delivered a notably strong first quarter for fiscal 2026, with adjusted diluted EPS of $1.30 beating the $0.63 consensus estimate by 107.40%, while revenue of $454.51 million edged past expectations by 1.64% and grew 10.6% year over year. The standout result was powered in large part by robust investment activity, with $585.35 million deployed during the quarter across deals including a $201.79 million sale-leaseback with Poland's Raben Group and a $211.88 million transaction with Go Auto in Canada, demonstrating the company's ability to source large-scale net lease opportunities across geographies. Net income attributable to W. P. Carey climbed 40.1% year over year to $176.30 million, supported by favorable foreign debt remeasurement gains and lower non-cash credit loss allowances. Momentum has carried well into the year, with year-to-date investment volume reaching approximately $1.1 billion including a 43-property GardenCore sale-leaseback closed after quarter end. Looking ahead, management raised its full-year 2026 AFFO guidance to $5.16 to $5.26 per diluted share, underpinned by an expanded investment volume target of $1.50 billion to $2.00 billion.

Key Takeaways
  • Accretive net investment activity with $585.3 million deployed in Q1 2026
  • Contractual same-store rent growth of 2.4% year over year on constant currency basis
  • Lease revenues increased due to net investment activity and rent escalations
  • Income from finance leases and loans receivable increased from net investment activity
  • Higher gains from remeasurement of foreign debt
  • Lower non-cash allowance for credit loss on finance leases

“We've had a strong start to the year, backed by continued investment momentum and successful execution in the capital markets. Combined with the depth of our pipeline and the performance of our portfolio, this has enabled us to raise our full-year outlook for both investment volume and AFFO per share.”

W. P. Carey CEO, on the earnings call

Forward Guidance & Outlook

W. P. Carey raised its 2026 full-year AFFO guidance to $5.16–$5.26 per diluted share, reflecting higher expected investment volume and lower estimated potential rent loss from tenant credit events. Key assumptions include: investment volume of $1.5 billion to $2.0 billion (revised higher); disposition volume of $250 million to $750 million (unchanged); total G&A expenses of $103–$106 million; property expenses (excluding reimbursable tenant costs) of $56–$60 million; and AFFO-basis tax expense of $45–$49 million.

WPC YoY Financials

Q1 2026 vs Q1 2025 · SEC filings Q1 2025 Q1 2026
$0$200.0M$400.0M$411.1M$454.5MRevenue$125.8M$176.3MNet Income$346.7M$199.4MOperating Income
$0$200.0M$400.0MRevenueNet IncomeOperating Income

WPC Revenue by Segment

Net Lease Properties$453.0M
Self-Storage and Other Operating Properties

Figures from SEC filings and company reports. Not investment advice.