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MarketBeat
Sat, May 2, 2026 astatine 2:07 PM CDT 8 min read
W.P. Carey (NYSE:WPC) reported first-quarter 2026 results that absorption said reflected “continued beardown execution crossed the business,” led by concern enactment and superior markets actions that the institution believes person mostly pre-funded its maturation program for the year.
Chief Executive Officer Jason Fox said the REIT is raising full-year guidance for some concern measurement and adjusted funds from operations (AFFO) per share, citing deals completed year-to-date, a “very strong” pipeline, and a “more favorable outlook for estimated rent loss.”
Investment enactment and pipeline
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Fox said W. P. Carey has completed astir $680 cardinal of investments truthful acold successful 2026 and has “over fractional a cardinal dollars of deals presently astatine precocious stages,” including “the merchantability leaseback of a ample concern portfolio that’s successful the last stages of closing.” In total, helium said the institution has “clear visibility into good implicit $1 cardinal of investments” erstwhile factoring successful the pipeline and superior projects expected to present this year.
Management accrued full-year concern measurement guidance by $250 cardinal to a scope of $1.5 cardinal to $2.0 billion. Fox said the institution expects an “average headdress complaint of astir 7.5%” crossed closed deals, the pipeline, and superior projects delivering successful 2026, and said it expects to “remain astir that level” for the afloat year.
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Fox added that closed transactions person averaged 7.2% year-to-date, which helium attributed mostly to timing and a premix skewed toward “some of what we expect to beryllium our tightest headdress complaint deals implicit the archetypal fractional of the year.” He besides said concern enactment aboriginal successful the twelvemonth has been weighted toward Europe and Canada, wherever the institution secured lower-cost indebtedness during the quarter, helping support charismatic spreads versus “going-in” headdress rates.
By spot type, Fox said astir 60% of first-quarter concern measurement went to warehouse and concern assets, with retail accounting for astir 40% owed mostly to a sale-leaseback with Go Auto for a portfolio of car dealerships successful the Greater Vancouver area. Fox said Go Auto is the second-largest automotive dealership radical successful Canada and present ranks among W. P. Carey’s apical 25 tenants by yearly basal rent (ABR).
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On ample transactions, Fox said deals successful the $200 cardinal to $300 cardinal scope are a regular portion of the company’s travel fixed its scale, and noted different “larger merchantability leaseback” concern transaction successful the U.S. expected to adjacent wrong a mates weeks.
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