W. P. Carey Inc. (NYSE:WPC), a net lease real estate investment trust, reported its third-quarter 2026 financial results on October 27, 2026, disclosing AFFO of $1.33 per diluted share and raising its full-year AFFO guidance range.

Key Highlights

  • AFFO per diluted share: $1.33 for Q3 2026, up 6.4% from $1.25 in Q3 2025.
  • Net income attributable to W. P. Carey: $141.0 million, or $0.61 diluted earnings per share, for Q3 2026.
  • Updated 2026 AFFO guidance: Raised and narrowed to $5.23 to $5.29 per diluted share, from the prior range of $5.19 to $5.27.
  • Quarterly cash dividend: $0.950 per share, equivalent to an annualized rate of $3.80 per share, a 4.4% increase compared to Q3 2025.
  • Portfolio composition: 1,755 net lease properties, approximately 189 million square feet, leased to 383 tenants, with a weighted-average lease term of 12.0 years and occupancy of 98.6% as of September 30, 2026.
  • Total liquidity: $2.6 billion as of September 30, 2026, including $1.9 billion of available capacity under its Senior Unsecured Credit Facility.
  • Senior Notes issuance: $350 million of 5.200% Senior Unsecured Notes due 2036, with proceeds used to prepay $350 million of 4.250% Senior Unsecured Notes due October 2026.

W. P. Carey's Third-Quarter 2026 Results: Investment Activity, Guidance, and Capital Actions

According to the filing, revenues including reimbursable costs for Q3 2026 totaled $468.3 million, up 8.6% from $431.3 million in Q3 2025. The company disclosed that lease revenues increased due primarily to net investment activity, while operating property revenues decreased due primarily to the sale of its self-storage operating portfolio, which comprised the sale of 63 properties in 2025 and 11 during Q1 2026. Net income attributable to W. P. Carey was reported as unchanged from Q3 2025 at $141.0 million, with the company noting that a lower gain on sale of real estate was substantially offset by accretive net investment activity and lower impairment charges.

On the investment side, the company reported completing $1.6 billion in investments year to date through Q3 2026, including $181.9 million during the third quarter and $143.2 million subsequent to quarter end. The filing also disclosed three capital investments and commitments totaling $95.2 million scheduled to be completed in Q4 2026. During the first nine months of 2026, the company disposed of 33 properties for gross proceeds totaling $273.2 million, including five properties in Q3 2026 for $27.0 million. Contractual same-store rent growth was reported at 2.6% year over year on a constant currency basis as of September 30, 2026.

Regarding equity, the filing stated that during Q3 2026 the company settled a portion of its outstanding forward sale agreements, issuing 2,301,613 shares of common stock for net proceeds totaling approximately $150 million. As of September 30, 2026, 7,612,418 shares remained available for settlement under forward sale agreements, representing anticipated net proceeds of approximately $538 million. The company's updated full-year investment volume assumption was narrowed to between $1.8 billion and $2.1 billion, raising the low end by $100 million from the prior range of $1.7 billion to $2.1 billion. Chief Executive Officer Jason Fox's comments in the filing contain forward-looking statements that are the company's own and subject to its cautionary language.

What Was Disclosed

W. P. Carey filed its Q3 2026 earnings disclosure on October 27, 2026, reporting AFFO of $308.2 million ($1.33 per diluted share), raising its full-year AFFO guidance range to $5.23 to $5.29 per diluted share, and detailing investment, disposition, equity, and debt capital activity for the quarter and year to date.