Q1 26 EPS
$N/A
Q1 26 Revenue
N/A
vs S&P Since Q1 26
-2.8%
TRAILING MARKET
WPC +1.4% vs S&P +4.1%
Market Reaction
Did WPC Beat Earnings? Q1 2026 Results
W. P. Carey closed out 2025 on solid footing, reporting fourth-quarter earnings per share of $0.67, matching the consensus estimate precisely, while revenue of $444.55 million, up 10.0% year over year, cleared the $203.85 million consensus by a wide … Read more W. P. Carey closed out 2025 on solid footing, reporting fourth-quarter earnings per share of $0.67, matching the consensus estimate precisely, while revenue of $444.55 million, up 10.0% year over year, cleared the $203.85 million consensus by a wide margin. The headline driver was a sharp recovery in net income, which climbed to $148.32 million from $47.02 million a year earlier, fueled by lower mark-to-market losses on Lineage shares, a higher gain on real estate sales, and the accretive impact of net investment activity. AFFO per diluted share rose 5.0% to $1.27 in the quarter, capping a full-year result of $4.97, a 5.7% increase, anchored by a record $2.10 billion in annual investment volume that included standout deals such as the $321.83 million acquisition of 10 Life Time Fitness properties. The company has since bolstered its capital structure through a roughly $432 million equity raise and nearly €1 billion in Eurobond issuances to fund future industrial-focused acquisitions. Looking ahead, management guided 2026 AFFO of $5.13 to $5.23 per diluted share, implying low-to-mid 4% growth at the midpoint.
Key Takeaways
- • Accretive impact of net investment activity and rent escalations
- • Record annual investment volume of $2.1 billion for 2025
- • Contractual same-store rent growth of 2.4% year over year
- • Lower mark-to-market losses on Lineage shares versus prior year
- • Higher gain on sale of real estate
- • Sale of 63 self-storage operating properties for gross proceeds of $784 million during 2025
WPC Forward Guidance & Outlook
For full year 2026, W. P. Carey expects AFFO of between $5.13 and $5.23 per diluted share, implying low-to-mid 4% growth at the midpoint. Key assumptions include: investment volume of $1.25 billion to $1.75 billion; disposition volume of $250 million to $750 million; total G&A expenses of $103 million to $106 million; property expenses (excluding reimbursable tenant costs) of $56 million to $60 million; and tax expense (on an AFFO basis) of $45 million to $49 million. Year-to-date through February 10, 2026, the company completed $312.4 million in investments and has $238.3 million in capital investments and commitments scheduled for completion in 2026. The company maintains a conservative stance toward both investment volume and potential credit-related rent loss.
WPC YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
WPC Revenue by Segment
Business unit performance breakdown
“2025 was a year of meaningful progress for W. P. Carey, as execution of our business model translated into strong performance and laid the foundation for attractive, sustainable growth.”
— Jason Fox, Q1 2026 Earnings Press Release
WPC Earnings Trends
WPC vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
WPC EPS Trend
Earnings per share: estimate vs actual
WPC Revenue Trend
Quarterly revenue: estimate vs actual
WPC Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | — | — | — | — |
| Q4 25 BEAT FY | $0.67 | $0.67 | +0.00% | $444.5M | +118.08% |
| FY Full Year | $1.62 | $2.11 | +30.64% | $1.72B | +0.84% |
| Q3 25 MISS | $0.64 | $0.64 | -0.59% | $431.3M | +1.53% |
| Q2 25 BEAT | $0.64 | $1.28 | +100.44% | $430.8M | +3.49% |
| Q1 25 BEAT | $0.60 | $1.17 | +95.55% | $409.9M | -0.70% |