W. P. Carey Inc. (WPC)

W. P. Carey Inc. ranks among the largest net lease REITs with a well-diversified portfolio of high-quality, operationally critical commercial real estate. It includes 1,748 net lease properties covering approximately 188 million square feet as of June 30, 2026. 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 Europe, under long-term net leases with built-in rent escalations. W. P. Carey Inc. was incorporated in 1973 in Maryland, USA.

Ticker: WPC
Exchange: NYSE
Sector: Real Estate
Industry: REIT - Diversified
Market cap: $14.97B
52-week range: $62.19 - $77.22

Valuation

Share price: $65.05 (close of Nov 6, 2026)
P/E (TTM): 22.41x
Price to book: 1.70x
Price to free cash flow: 12.04x
Enterprise value: $23.61B
Book value per share: $38.16

Price performance

Period	Change
1 day	-0.37%
5 days	+1.48%
1 month	+1.62%
3 months	-9.46%
6 months	-11.92%
Year to date	+1.07%
1 year	-1.83%
3 years	+19.78%
5 years	-15.54%
10 years	+14.69%
All time	+200.19%

Short interest

As of: Oct 15, 2026
Short % of float: 5.64%
Shares short: 9.63M
Days to cover: 5.91
Change since prior report: +8.00%
Source: FINRA consolidated short interest

Profitability and growth

Return on equity: 5.73%
Return on assets: 2.59%
Net margin: 27.17%
Revenue growth: 8.43%
Net income growth: 1.20%
Free cash flow growth: -30.05%

Cash flow and balance sheet

Free cash flow yield (TTM): 8.31%
Net debt to EBITDA: 5.55x

Latest reported year

Period end: Dec 31, 2025
Fiscal year: 2025
Revenue: $1.72B
Net income: $466.36M
Earnings per share: $2.11
Interest expense: $291.26M
Shares outstanding: 220.50M

Income statement by year

Period end	Revenue	Net income	EPS
2025-12-31	$1.72B	$466.36M	$2.11
2024-12-31	$1.58B	$460.84M	$2.09
2023-12-31	$1.74B	$708.33M	$3.29
2022-12-31	$1.48B	$599.14M	$3.00
2021-12-31	$1.33B	$409.99M	$2.25
2020-12-31	$1.21B	$455.36M	$2.61
2019-12-31	$1.23B	$305.24M	$1.79
2018-12-31	$885.73M	$411.57M	$3.50
2017-12-31	$848.30M	$277.29M	$2.57
2016-12-31	$941.53M	$267.75M	$2.50

Margins and returns by year

Period end	Net margin	Return on equity
2025-12-31	27.17%	5.73%
2024-12-31	29.11%	5.46%
2023-12-31	40.68%	8.14%
2022-12-31	40.51%	6.65%
2021-12-31	30.79%	5.41%
2020-12-31	37.65%	6.62%
2019-12-31	24.76%	4.39%
2018-12-31	46.47%	6.03%
2017-12-31	32.69%	8.13%
2016-12-31	28.44%	7.82%

Cash and debt by year

Period end	Cash	Debt
2025-12-31	$155.33M	$8.72B
2024-12-31	$640.37M	$8.04B
2023-12-31	$633.86M	$8.14B
2022-12-31	$168.00M	$7.88B
2021-12-31	$165.43M	$6.79B
2020-12-31	$248.66M	$6.70B
2019-12-31	$196.03M	$6.05B
2018-12-31	$217.64M	$6.38B
2017-12-31	$162.31M	$4.27B
2016-12-31	$155.48M	$4.44B

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-12-31	$1.28B	$39.89M
2024-12-31	$1.83B	$40.89M
2023-12-31	$1.07B	$34.50M
2022-12-31	$1.00B	$32.84M
2021-12-31	$926.48M	$24.88M
2020-12-31	$801.54M	$15.94M
2019-12-31	$812.08M	$18.79M
2018-12-31	$509.17M	$18.29M
2017-12-31	$520.66M	$18.92M
2016-12-31	$545.78M	$21.22M

Dividend history

Most recent payment: Sep 30, 2026
Paid in the last twelve months: $3.74

Payment date	Dividend per share
2026-09-30	$0.95
2026-06-30	$0.94
2026-03-31	$0.93
2025-12-31	$0.92
2025-09-30	$0.91
2025-06-30	$0.90
2025-03-31	$0.89
2024-12-31	$0.88

Investor relations

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-10-27	Sep 2026	$1.26
2026-07-28	Jun 2026	$1.24
2026-04-28	Mar 2026	$1.24
2026-02-10	Dec 2025	$1.22
2025-10-28	Sep 2025	$1.19
2025-07-29	Jun 2025	$1.18
2025-04-29	Mar 2025	$1.15
2025-02-11	Dec 2024	$1.15

Filings and sources

Company website: wpcarey.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

Similar companies

VICI Properties Inc. (VICI) · CBRE Group, Inc. (CBRE) · Jones Lang LaSalle Inc (JLL) · CoStar Group, Inc. (CSGP) · BXP, Inc. (BXP) · Alexandria Real Estate Equities, Inc. (ARE) · Prologis, Inc. (PLD) · Public Storage (PSA)

All Real Estate companies

Understanding these figures

Price-to-earnings ratio · Short interest · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart

Explore

Company directory · S&P 500 heatmap · Earnings calendar · Super investor holdings · Congress trades