W.P. Carey Inc (NYSE: WPC) is a real estate investment trust (REIT) that owns and leases commercial properties under long-term net lease agreements. The company generates revenue primarily through rental income paid by tenants who are responsible for most property operating expenses under net lease structures. The filing excerpts from the 10-K filed 2026-02-11 confirm W.P. Carey operates as a REIT with tenants exposed to risks including fluctuating interest rates, inflation, and tariffs. The company is headquartered in New York, NY, with an investor relations line at (212) 492-8920. The filing references tenant relationships as central to business performance, with macroeconomic factors such as inflation and geopolitical instability cited as material risks to tenant health and, by extension, to rental income. Specific portfolio size, tenant counts, segment revenue breakdowns, and CEO tenure are not supported by the provided filing excerpts and are therefore omitted.

Revenue model

Rental income from tenants under long-term net lease agreements, where tenants bear most property operating costs. The net lease structure provides relatively predictable cash flows tied to contractual lease terms.

Products and services

Long-term net lease agreements on commercial properties. Specific property types, brands, or product segments are not detailed in the provided filing excerpts.

Customers and end markets

Commercial tenants across various industries. The filing references exposure to tenant risks from inflation, tariffs, pandemics, and geopolitical instability. Specific tenant names, industries, or concentration data are not supported by the provided excerpts.

Value-chain role

Property owner and net lease landlord. W.P. Carey acquires commercial real estate and leases it to operating tenants under net lease structures, transferring most operating expense obligations to tenants.

Geographic exposure

The filing references domestic and geopolitical risks, suggesting both U.S. and international exposure, but specific country or regional revenue breakdowns are not supported by the provided excerpts.

Source: SEC 10-K, filed 2026-02-11

Industry: Real Estate Investment Trusts Peers: Alexander & Baldwin, Inc. American Assets Trust Inc Global Net Lease Inc Broadstone Net Lease Inc /entities/esba Empire State Realty Trust Inc Essential Properties Realty Trust Inc STORE CAPITAL LLC