Key Highlights

  • Consensus revenue of USD 457.57 million compares with total revenues of USD 461,064 thousand reported for the second quarter.
  • Consensus EPS stands at 0.70, while net income attributable to the company was USD 185,389 thousand against USD 51,220 thousand.
  • Lease revenues were USD 409,661 thousand against USD 364,195 thousand, and finance lease and loan income was USD 27,162 thousand.
  • Impairment charges on real estate were USD 79,421 thousand against USD 4,349 thousand, and dividends declared were 0.940 per share.

W. P. Carey (NYSE:WPC) reports third-quarter results on Tuesday, Oct. 27, after the market closes. Consensus stands at EPS of 0.70 on revenue of USD 457.57 million, and the company has a market capitalization of USD 14.67 billion.

W. P. Carey is a REIT that invests primarily in commercial properties in the United States and generates most of its earnings from lease revenues. In the second quarter, it reported total revenues of USD 461,064 thousand against USD 430,777 thousand.

Estimates Against the Last Reported Quarter

The revenue estimate of USD 457.57 million is below the USD 461,064 thousand of total revenues reported for the second quarter. The EPS estimate of 0.70 is not stated on a net income or an adjusted basis in the estimates table.

Income before income taxes was USD 198,750 thousand against USD 64,403 thousand, and net income was USD 185,659 thousand against USD 51,312 thousand. Net income attributable to the company was USD 185,389 thousand against USD 51,220 thousand.

Revenue Lines and Equity Earnings

Lease revenues were USD 409,661 thousand against USD 364,195 thousand, and income from finance leases and loans receivable was USD 27,162 thousand against USD 20,276 thousand. The filing ties higher total revenues primarily to net investment activity and rent escalations.

Earnings from equity method investments were USD 55,579 thousand against USD 6,161 thousand. The filing cites a USD 49.9 million proportionate share of a gain recognized on the sale of a portfolio of properties by one investment during the second quarter.

Costs, Impairments and Dividends

Interest expense was USD 78,979 thousand against USD 71,795 thousand, an increase of USD 7.2 million that the filing ties to higher balances and rates on Senior Unsecured Notes, partly offset by lower balances on the Unsecured Revolving Credit Facility and reduced mortgage debt.

Depreciation and amortization was USD 134,378 thousand against USD 120,595 thousand, and impairment charges on real estate were USD 79,421 thousand against USD 4,349 thousand. General and administrative expense was USD 25,934 thousand against USD 24,150 thousand.

Dividends declared were 0.940 per share against 0.900, totaling USD 216,210 thousand against USD 198,794 thousand. The estimates table lists a market capitalization of USD 14.67 billion.

Property expenses, excluding reimbursable tenant costs, were USD 15,206 thousand against USD 13,623 thousand, and reimbursable tenant costs were USD 19,472 thousand against USD 17,718 thousand. Stock-based compensation expense was USD 13,909 thousand against USD 10,943 thousand.

At June 30, 2026, cash and cash equivalents were USD 163,538 thousand against USD 155,329 thousand at the prior year-end, and total assets were USD 18,634,633 thousand against USD 17,990,232 thousand. Senior unsecured notes, net, were USD 7,376,851 thousand against USD 6,950,261 thousand.

Comparisons to Make in the Report

Revenue against USD 457.57 million and the dividend against 0.940 are the headline comparisons. Other markers are lease revenues, impairment charges and equity method earnings.