Investors interested in REIT and Equity Trust - Other stocks are likely familiar with W.P. Carey (WPC) and CubeSmart (CUBE) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revisi ...

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Core Viewpoint - Investing in W.P. Carey provides an opportunity for passive income through its high-yield real estate investment trust (REIT) structure, which offers a nearly 6% yield compared to the S&P 500's sub-1.5% dividend yield [2] Group 1: Company Overview - W.P. Carey owns a diversified portfolio of 1,614 high-quality commercial properties across North America and Europe, including industrial, warehouse, and retail spaces, secured by long-term net leases [3] - The REIT's net lease portfolio generates stable and growing rental income, with half of its leases linked to inflation and 47% raising rents at a fixed rate [4] Group 2: Financial Strategy - W.P. Carey aims to distribute 70% to 75% of its stable cash flow as dividends while retaining the remainder for reinvestment in income-generating real estate [5] - The company has invested $1.6 billion in new properties last year and plans to invest between $1 billion and $1.5 billion this year, with $448.6 million already completed [8] Group 3: Growth and Dividend Policy - Rising rental income from existing properties and strategic investments in new properties provide a solid growth base for W.P. Carey [6] - The company has increased its dividend by 2.9% over the past year and aims to grow its payout in line with its adjusted funds from operations (FFO), which rose by 2.6% in the first quarter [9]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from__________ to __________ Commission File Number: 001-13779 W. P. Carey Inc. (Exact name of registrant as specified in its charter) Maryland 45-4549771 (State or other jur ...

W.P. Carey (WPC) reported first-quarter 2025 adjusted funds from operations (AFFO) per share of $1.17, missing the Zacks Consensus Estimate of $1.19. However, the figure improved 2.6% from the year-ago quarter.Results reflect dispositions impacting revenues, though net investment activity and certain lease structuring aided the performance to some extent.Quarterly revenues of $407.4 million underperformed the Zacks Consensus Estimate of $418.2 million. However, revenues increased 5.3% year over year.Per Jas ...

W. P. Carey (WPC) Q1 2025 Earnings Call April 30, 2025 11:00 AM ET Company Participants Peter Sands - Executive Director & Head of Investor RelationsJason Fox - CEOToni Sanzone - MD & CFOGreg Mcginniss - DirectorSmedes Rose - DirectorBrooks Gordon - MD & Head of Asset ManagementJana Galan - DirectorAnthony Paolone - Executive DirectorSpenser Glimcher - Managing DirectorJames Kammert - Managing DirectorEric Borden - Vice PresidentJason Wayne - VP - Equity Research Conference Call Participants Michael Goldsmi ...

Financial Data and Key Metrics Changes - The company generated AFFO per share of $1.17 for the first quarter, reflecting a year-over-year increase of 2.6% [21] - The AFFO guidance range remains reaffirmed at $4.82 to $4.92 per share, with expectations for growth above the 3.6% implied in the guidance [21][30] - Operating property NOI totaled $16.6 million, with expectations of generating between $70 million and $75 million of operating NOI during 2025, excluding expected dispositions [26][28] Business Line Data and Key Metrics Changes - The company closed approximately $450 million in investments year-to-date, with an initial weighted average cap rate of 7.4% [7] - Contractual same-store rent growth for the quarter was 2.4% year-over-year, with comprehensive same-store growth at 4.5% [22] - Leasing activity included 16 renewals or extensions, representing 1.8% of portfolio ABR, recapturing 103% of prior rents [23] Market Data and Key Metrics Changes - The investment pipeline is expected to be approximately $570 million for 2025, with a solid near-term pipeline [8] - The market for net lease real estate remains stable, with minimal disruption in transaction activity despite broader economic uncertainties [8][10] - The company anticipates that sale leaseback transactions will continue to increase, providing attractive capital sources during market volatility [9] Company Strategy and Development Direction - The company remains focused on executing its investment plan for 2025, with good visibility into additional deals closing soon [5] - The strategy includes funding investments primarily through non-core asset sales, with expectations to generate at least 100 basis points of spread between asset sales and new investments [12][14] - The company is positioned to benefit from potential tightening of mortgage lending criteria, enhancing its competitive advantage in new investments [10] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the operating environment, noting that uncertainty from tariffs has not yet impacted business performance [5][6] - The company believes its portfolio is resilient to economic downturns, focusing on large tenants with strong liquidity [15] - Management remains comfortable with the assumptions in their guidance and sees potential for growth in AFFO as visibility improves [18][31] Other Important Information - The company refinanced its euro term loan, fixing the interest rate below 3% through an interest rate swap, with minimal near-term debt maturities [11][29] - The dividend declared was $0.89 per share, representing a 2.9% increase over the prior year, with an expected annual payout ratio of 73% [30] Q&A Session Summary Question: Can you provide details on cap rates and the split between retail, industrial, and US/Europe? - The company targets cap rates in the mid-sevens, with a pipeline that is approximately 50% weighted towards Europe [36][38] Question: Will you consider selling more self-storage assets to fund acquisitions? - The company has flexibility in its disposition strategy and can consider additional self-storage sales if needed [44][46] Question: How does the company view its European exposure in relation to tariffs? - The majority of European tenants operate domestically, reducing exposure to tariffs, and the company remains confident in its European portfolio [54][56] Question: What is the company's approach to potential rent loss and repositioning capital? - The potential rent loss estimate includes downtime and is considered conservative, with minimal capital expenditures expected for repositioning [62][65] Question: What is the outlook for occupancy and known vacates in the next 18 months? - The overall scale of lease expirations is small, with one warehouse property expected to non-renew, fully embedded in guidance [71][72] Question: How is the company managing input costs for capital projects? - Most capital investments are subject to guaranteed contracts, with large buffers built in to manage cost exposure [77] Question: How competitive is the net lease market in the US and Europe? - The US market remains competitive with new entrants, while Europe is less competitive, providing the company with an advantage as an all-cash buyer [80][81] Question: How has inflation impacted lease negotiations? - The company has been able to push through higher fixed increases in leases, particularly in Europe, while CPI-linked increases have become more challenging in the US [86][88]

1Q25 W. P. Carey Inc. Investor Presentation 50+ Years of Investing for the Long Run® Table of Contents | Overview | 3 | | --- | --- | | Real Estate Portfolio | 7 | | Balance Sheet | 20 | | Corporate Responsibility | 24 | | Appendix – Additional Tenant Data | 26 | Unless otherwise noted, all data in this presentation is as of March 31, 2025. Amounts may not sum to totals due to rounding. Overview 3 Company Highlights W. P. Carey (NYSE: WPC) is a REIT that specializes in investing in single-tenant net lease c ...

Core Viewpoint - W.P. Carey (WPC) reported quarterly funds from operations (FFO) of $1.17 per share, missing the Zacks Consensus Estimate of $1.20 per share, but showing an increase from $1.14 per share a year ago, indicating a -2.50% surprise in FFO performance [1] Financial Performance - The company posted revenues of $407.44 million for the quarter ended March 2025, which was below the Zacks Consensus Estimate by 0.97%, compared to $389.8 million in the same quarter last year [2] - Over the last four quarters, W.P. Carey has surpassed consensus FFO estimates two times and topped consensus revenue estimates two times [2] Stock Performance - W.P. Carey shares have increased approximately 11.5% since the beginning of the year, contrasting with a -6% decline in the S&P 500 [3] - The stock's immediate price movement will largely depend on management's commentary during the earnings call [3] Future Outlook - The current consensus FFO estimate for the upcoming quarter is $1.21, with expected revenues of $412.71 million, and for the current fiscal year, the estimate is $4.83 on $1.67 billion in revenues [7] - The estimate revisions trend for W.P. Carey is currently favorable, leading to a Zacks Rank 2 (Buy) for the stock, suggesting it is expected to outperform the market in the near future [6] Industry Context - The REIT and Equity Trust - Other industry, to which W.P. Carey belongs, is currently ranked in the bottom 38% of over 250 Zacks industries, indicating potential challenges ahead [8]

Exhibit 99.2 W. P. Carey Inc. Supplemental Information First Quarter 2025 Terms and Definitions As used in this supplemental package, the terms "W. P. Carey," "WPC," "we," "us" and "our" include W. P. Carey Inc., its consolidated subsidiaries and its predecessors, unless otherwise indicated. Other terms and definitions are as follows: | REIT | Real estate investment trust | | --- | --- | | U.S. | United States | | ABR | Contractual minimum annualized base rent | | ASC | Accounting Standards Codification | | ...