W. P. Carey (WPC)
Owns single-tenant industrial, warehouse, and retail properties under long-term net leases.
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Owns industrial, warehouse, and retail properties leased mainly to single tenants under long-term agreements. Lease revenue drives the business, with triple-net terms shifting most property costs to tenants and a portfolio concentrated in the United States and Europe.
Owns and leases single-tenant commercial properties under long-term agreements, with industrial, warehouse, and retail facilities forming the core portfolio. Lease revenue supplies the vast majority of earnings, while triple-net terms generally place property operating and maintenance costs with tenants.
Operates as an internally managed REIT with one reportable segment, drawing most rent from the United States and a substantial share from Europe. Sale-leaseback underwriting focuses on tenant credit, industry position, the operational importance of each building, and long-term business prospects.
Execution centers on acquiring operationally important real estate, structuring contractual rent increases, and managing tenant and property diversification across hundreds of tenants. Rent collection depends on tenant payment capacity, while renewals, vacancies, interest rates, access to capital, currency exposure, and continued REIT qualification shape the business.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 22, 2026 | Benchmark | Initiate | Rating: — | |
| Sep 22, 2026 | Jefferies | Initiate | Rating: —Target: — | Target: $73 |
| Sep 21, 2026 | Evercore ISI | Target | Target: $77 | Target: $75 |
| Sep 17, 2026 | Scotiabank | Reiterate | Rating: —Target: $77 | Target: $76 |
| Sep 4, 2026 | Barclays | Upgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $163.5M · Total debt $8.95B · Total assets $18.63B · Shareholders' equity $8.67B
- Revenue
- $342.2M
- Operating income
- $4.2M
- Net income
- $185.9M
HistoryDividendAnnual yieldUpcoming
| Institutions | 80.01% | 182.27M shares | |
|---|---|---|---|
| 916 holders · as of Jun 30, 2026 | |||
| Insiders | 0.99% | 2.27M shares | |
| 15 holders · as of Jul 2, 2026 | |||
| Other | 19.00% | 43.28M shares | |
| remainder | |||
227.82M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 14.56% | 33.17M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 8.45% | 19.24M | as of Jun 30, 2026 |
State Street CorpInstitution | 5.42% | 12.36M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 4.40% | 10.03M | as of Jun 30, 2026 |
Geode Capital Management, LLCInstitution | 2.21% | 5.03M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 6, 2026 | Brian H. Zander | officer: Chief Accounting Officer | −433 | $74.00 |
- Realty Income
Global net-lease REIT spanning retail, industrial and European assets
- Broadstone Net Lease
Industrial-focused net-lease REIT spanning U.S. and Canadian assets
- Global Net Lease
Diversified single-tenant net-lease REIT across the U.S. and Europe
- STAG Industrial
U.S. industrial REIT focused on warehouses and light manufacturing
- Agree Realty
U.S. retail net-lease REIT with acquisition and development platforms
- NNN REIT
U.S. single-tenant retail net-lease acquisition rival
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| W. P. Carey | $66.93 | +1.10% | $15.08B | 22.6 | 22.7 | 7.9 | +7.0% |
| Realty Income | $56.68 | +0.05% | $52.83B | 41.4 | 35.1 | 8.9 | +1.1% |
| Broadstone Net Lease | $18.99 | −1.53% | $3.70B | 26.1 | 26.9 | 7.7 | +8.3% |
| Global Net Lease | $8.75 | +0.06% | $1.85B | — | — | 4.0 | −10.0% |
| STAG Industrial | $37.38 | −0.36% | $7.23B | 28.9 | 74.5 | 8.2 | +7.8% |
| Agree Realty | $67.74 | +0.17% | $8.12B | 36.4 | 34.9 | 10.4 | +16.9% |
| NNN REIT | $41.55 | −0.19% | $7.92B | 20.4 | 19.8 | 8.3 | +7.2% |
| Median | 28.9 | 34.9 | 8.3 | +7.5% |