W. P. Carey Inc.
wpcarey.comWhat Do They Do?
Owns and leases single-tenant industrial, warehouse and retail properties to companies, primarily in the United States and Europe.
10-K for FY2025, filed Feb 11, 2026
How Do They Make Money?
Owned Real Estate (99% of revenue) mainly brings in rent from companies leasing commercial properties on long-term net leases, with scheduled rent increases or inflation-linked adjustments. The company also earns asset-management revenue for property management, leasing and advisory services.
10-K for FY2025, filed Feb 11, 2026Our investment strategy primarily focuses on owning and actively managing a diverse portfolio of commercial real estate that is net-leased…View ↗
Lease Terms — Generally, the net-leased properties we invest in are leased on a full-recourse basis to the tenants or their affiliates. In…View ↗
Revenue Recognition, Investment Management Operations — We earn asset management revenue in connection with providing services to CESH and…View ↗
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10-K for FY2025, filed Feb 11, 2026
FY2025 revenue by product or service ↗
$1.7B
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10-K for FY2025, filed Feb 11, 2026
$1.7B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Owned Real Estate
Recurring
10-K for FY2025, filed Feb 11, 2026 |
99%
FY2022: 99%
|
Owned Real Estate, FY2025
$1.7B Sources
|
Recurring |
|
Investment Management
|
0.5%
FY2022: 0.7%
|
Investment Management, FY2025
$9.2M Sources
|
Who Are Their Customers?
Companies lease commercial properties directly from W. P. Carey, primarily in the United States and Europe; the company works with tenants on long-term leases.
10-K for FY2025, filed Feb 11, 2026W. P. Carey Inc. (“W. P. Carey” or the “Company”) is an internally-managed diversified REIT that, together with our consolidated…View ↗
Our investment strategy primarily focuses on owning and actively managing a diverse portfolio of commercial real estate that is net-leased…View ↗
We believe that proactive asset management is essential to maintaining and enhancing property values. Important aspects of asset management…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 27 cents of every revenue dollar as net income in FY2025.
10-K for FY2025, filed Feb 11, 2026
10-K for FY2025, filed Feb 11, 2026
$466.4MView ↗
How Are They Changing?
- Net income
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Sources
10-Q for Q2 FY2026, filed Jul 29, 2026
$185.4MView ↗
- ▲ +262%
- vs $51.2M in Q2 FY2025
10-Q for Q2 FY2026, filed Jul 29, 2026
Open tableView ↗
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Jun 17, 2026
Tenant Hellweg files for insolvency
Binding replacement leases cover eight stores, while the company negotiates over most of the other eight.
Sources
8-K, filed Jun 17, 2026
On June 16, 2026, W. P. Carey Inc.’s tenant, Hellweg Die Profi-Baumärkte GmbH & Co. KG (“Hellweg”), notified W. P. Carey that it had filed…View ↗
Growing. Revenue grew 29% in 4 years, from $1.3B in FY2021 to $1.7B in FY2025, about 7% a year.
Office portfolio exit
The older report included office properties among the portfolio's main property types; the latest report says the office spin-off and sale program are complete and emphasizes industrial, warehouse and retail real estate.
10-K for FY2022, filed Feb 10, 2023 10-K for FY2025, filed Feb 11, 2026W. P. Carey Inc. (“W. P. Carey”), together with our consolidated subsidiaries and predecessors, is an internally-managed diversified REIT…View ↗
Adds NLOP advisory work
The older report described CESH as its remaining advisory relationship after earlier program agreements ended; the latest report identifies asset-management services for both CESH and NLOP.
10-K for FY2022, filed Feb 10, 2023 10-K for FY2025, filed Feb 11, 2026Revenue Recognition, Investment Management Operations — We earn asset management revenue in connection with providing services to CESH and…View ↗
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