Q3 25 EPS
$0.64
MISS 0.59%
Est. $0.64
Q3 25 Revenue
$431.3M
BEAT +1.53%
Est. $424.8M
vs S&P Since Q3 25
+7.0%
BEATING MARKET
WPC +11.8% vs S&P +4.8%
Market Reaction
Did WPC Beat Earnings? Q3 2025 Results
W. P. Carey delivered a mixed but broadly constructive third quarter for fiscal 2025, posting revenue of $431.30 million, ahead of the $424.79 million consensus by 1.53% and up 9.3% year over year, even as diluted EPS of $0.64 fell just short of the … Read more W. P. Carey delivered a mixed but broadly constructive third quarter for fiscal 2025, posting revenue of $431.30 million, ahead of the $424.79 million consensus by 1.53% and up 9.3% year over year, even as diluted EPS of $0.64 fell just short of the $0.64 estimate by 0.59%. The revenue strength was driven primarily by net investment activity and rent escalations across the REIT's diversified net lease portfolio, while net income attributable to the company climbed 26.2% to $141.00 million, aided by higher gains on real estate sales and lower mark-to-market losses on Lineage shares. AFFO, the metric most closely watched by net lease REIT investors, grew 5.9% year over year to $1.25 per diluted share, reflecting the accretive impact of $656.40 million deployed in Q3 across industrial, retail and warehouse assets in the U.S. And Europe. Management raised and narrowed full-year 2025 AFFO guidance to $4.93 to $4.99 per diluted share, underpinned by higher anticipated investment volume of $1.80 billion to $2.10 billion, while analysts currently hold a consensus "Hold" rating on the stock.
Key Takeaways
- • Net investment activity driving accretive AFFO growth (5.9% YoY per diluted share)
- • Contractual same-store rent growth of 2.4% on constant currency basis
- • Lease revenues increased from net investment activity and rent escalations
- • Higher gain on sale of real estate and lower mark-to-market losses on Lineage shares boosted net income
- • 97.0% occupancy rate with 12.1-year weighted-average lease term
- • 50% of ABR linked to CPI escalators and 47% with fixed increases
WPC YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
WPC Revenue by Segment
Business unit performance breakdown
“Strong investment activity, an active deal pipeline, and lower anticipated rent loss have enabled us to further raise our full-year outlook for both investment volume and AFFO — continuing the momentum we built in the first half of the year. We've also made excellent progress executing our strategy of funding investments through asset sales this year, achieving better-than-expected disposition cap rates and favorable reinvestment spreads. And our recent forward equity sales provide additional flexibility for funding deals.”
— Jason Fox, Q3 2025 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% |