W. P. Carey Reports Q3 2026 Earnings with Increased AFFO and Raised Full-Year Guidance
W. P. Carey (WPC) reported strong third-quarter results, highlighted by an Adjusted Funds From Operations (AFFO) per diluted share of $1.33, a 6.4% increase year-over-year. This growth was primarily driven by robust investment activity and contractual rent increases. The company also raised its full-year AFFO guidance to a range of $5.23 to $5.29 per share, implying approximately 5.8% annual growth. The REIT maintains a healthy balance sheet with total liquidity of $2.6 billion and portfolio occupancy at 98.6%. While investment volume year-to-date has reached $1.6 billion, management noted that rising long-term interest rates may complicate fourth-quarter transaction predictability. Additionally, the company flagged potential credit risks regarding tenant Hertz, which represents approximately 60 basis points of annualized base rent.
Topics: AFFO per share dividend increase investment guidance portfolio occupancy rent growth