Profile
Sector:
Real EstateIndustry:
DiversifiedCountry:
United StatesIPO:
21 January 1998Website:
http://www.wpcarey.comNext earnings report:
07 February 2025Last dividends:
30 September 2024Next dividends:
N/APrice
regular market | 2 min agoAnalysts recommendations
Institutional Ownership
WPC Latest News
Investors may have written this REIT off after it cut its dividend. However, it's become a compelling buy with a juicy and now-trustworthy 6.4% yield.
W. P. Carey has completed its portfolio transformation, divesting office assets and focusing on industrial properties, enhancing dividend safety and growth potential. The trust boasts a 99% lease rate and solid same-store rental growth, positioning it well for future AFFO growth. With a competitive AFFO multiple and a 6% yield, WPC offers compelling value for passive income investors.
WPC reported Q3 earnings on Oct. 29. We explore WPC's underperformance relative to the sector over the past 12 months. We discuss WPC's most recent earnings release and implications for future performance and pricing relative to peers.
What do you do after a dividend cut? Get right back on the dividend growth path.
W.P. Carey expects to get back on a growth trajectory in 2025.
W. P. Carey Inc. (NYSE:WPC ) Q3 2024 Earnings Conference Call October 30, 2024 11:00 AM ET Company Participants Peter Sands - Head, Investor Relations Jason Fox - Chief Executive Officer Toni Sanzone - Chief Financial Officer Brooks Gordon - Head, Asset Management Conference Call Participants Michael Goldsmith - UBS Mitch Germain - Citizens JMP Anthony Paolone - JPMorgan James Kammert - Evercore Greg McGinniss - Scotiabank John Kim - BMO Capital Markets Nick Joseph - Citi Brad Heffern - RBC Farrell Granath - Bank of America Spenser Allaway - Green Street Operator Hello, and welcome to W. P. Carey's Third Quarter 2024 Earnings Conference Call.
NEW YORK , Oct. 29, 2024 /PRNewswire/ -- W. P. Carey Inc. (NYSE: WPC) (W.
The company is an outlier in its sector, in more ways than one.
WPC remains undervalued compared to its historical levels and REIT peers, with it triggering the richer dividend and capital appreciation prospects. Despite the pessimistic sentiments, the REIT's stable ABR growth, excellent occupancy rate, and lower interest rates highlight robust execution thus far. FY2024 is likely to be a trough year for WPC, with FY2025 expected to bring forth sequentially improved numbers and increased growth opportunities as the Fed pivots.
For investors who are indifferent about WPC's last year's communication regarding the exit from the office property sector, WPC may be one of the best picks in the REIT sector. The article was written under the assumption of abstracting from the abovementioned factor, according to some requests from investors interested in solely the business and valuation overview of WPC. WPC is heavily discounted compared to some of its peers, and its valuation has detached from its top-tier business metrics, solid credit metrics, and high-quality portfolio.
What type of business is W P Carey?
W. P. Carey ranks among the largest net lease REITs with a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,424 net lease properties covering approximately 173 million square feet and a portfolio of 89 self-storage operating properties as of December 31, 2023. With offices in New York, London, Amsterdam and Dallas, the company remains focused on investing primarily in single-tenant, industrial, warehouse and retail properties located in the U.S. and Northern and Western Europe, under long-term net leases with built-in rent escalations.
What sector is W P Carey in?
W P Carey is in the Real Estate sector
What industry is W P Carey in?
W P Carey is in the Diversified industry
What country is W P Carey from?
W P Carey is headquartered in United States
When did W P Carey go public?
W P Carey initial public offering (IPO) was on 21 January 1998
What is W P Carey website?
https://www.wpcarey.com
Is W P Carey in the S&P 500?
No, W P Carey is not included in the S&P 500 index
Is W P Carey in the NASDAQ 100?
No, W P Carey is not included in the NASDAQ 100 index
Is W P Carey in the Dow Jones?
No, W P Carey is not included in the Dow Jones index
When was W P Carey the previous earnings report?
No data
When does W P Carey earnings report?
The next expected earnings date for W P Carey is 07 February 2025