W. P. Carey Inc.

WPC 10-Q · Q1 2026

WPC Q1 2026 request

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Income Statement

Income Statement
Metric Q1 2026 Q1 2025 YoY
Operating Lease Lease Income 402,831 353,768 +13.9%
Show Product Lines breakouts
Owned Real Estate Segment 402,831 353,768 +13.9%
Income From Direct Financing Leases And Loans Receivables 27,686 17,458 +58.6%
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Owned Real Estate Segment 27,686 17,458 +58.6%
Revenue (Q)
Show Product Lines breakouts
Management Service 490 1,350 -63.7%
Management Service · Affiliated Entity 490 1,350 -63.7%
Other advisory income and reimbursements 1,000 1,067 -6.3%
Other advisory income and reimbursements · Affiliated Entity 1,000 1,000 0.0%
Owned Real Estate Segment 12,050 33,094 -63.6%
Owned Real Estate Segment · Hotel 8.7 8.2 +6.1%
Show Counterparty Name breakouts
CESH · Affiliated Entity 9 157 -94.3%
NLOP · Affiliated Entity 1,481 2,260 -34.5%
Show Related Party Transactions By Related Party breakouts
Affiliated Entity 1,490 2,417 -38.4%
Other Lease Related Income (Q)
Show Product Lines breakouts
Owned Real Estate Segment 10,452 3,121 +234.9%
Revenue 454,509 409,858 +10.9%
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Investment Management [Member] 1,490 2,417 -38.4%
Owned Real Estate Segment 453,019 407,441 +11.2%
Depreciation And Amortization 136,183 129,607 +5.1%
Impairment Of Real Estate 40,008 6,854 +483.7%
Show Fair Value Hierarchy breakouts
Fair Value Inputs Level3 40,008 6,854 +483.7%
Fair Value Inputs Level3 · Construction In Progress 18.2
Fair Value Inputs Level3 · One Property 6.1 6.9 -11.6%
General & Administrative 27,348 26,967 +1.4%
Reimbursable Tenant Expense 19,692 17,092 +15.2%
Occupancy Net 14,552 11,706 +24.3%
Operating Property Expenses 8,694 16,544 -47.4%
Allocated Stock Based Compensation Expense Excluding Restructuring Expense 7,441 9,148 -18.7%
Merger And Other Expenses Operating 1,180 556 +112.2%
Total Costs & Expenses 255,098 218,474 +16.8%
Interest Expense -78,460 -68,804 -14.0%
Show Equity Components breakouts
Accumulated Gain Loss Cash Flow Hedge Including Noncontrolling Interest · Reclassification Out Of Accumulated Other Comprehensive Income -333 48 -793.8%
Show Reclassification Out Of Accumulated Other Comprehensive Income breakouts
Reclassification Out Of Accumulated Other Comprehensive Income -333 48 -793.8%
Gain Loss On Sale Of Properties 54,141 43,777 +23.7%
Show Real Estate And Accumulated Depreciation Description Of Property breakouts
Properties Located In Oceanside, California 4.6
Other Nonoperating Gains Losses 6,791 -42,197 +116.1%
Other Non-Operating Income (Expense) 4,704 7,910 -40.5%
Show Equity Components breakouts
Accumulated Gain Loss Cash Flow Hedge Including Noncontrolling Interest · Reclassification Out Of Accumulated Other Comprehensive Income -167 3,814 -104.4%
Show Reclassification Out Of Accumulated Other Comprehensive Income breakouts
Reclassification Out Of Accumulated Other Comprehensive Income -167 3,814 -104.4%
Income Loss From Equity Method Investments 4,543 5,378 -15.5%
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts
Las Vegas Retail Complex · Construction Commitment 3.7 4.3 -14.0%
Non-Operating Income (Expense) -8,281 -53,936 +84.6%
Income Before Taxes 191,130 137,448 +39.1%
Income Tax Expense (Benefit) -14,634 -11,632 -25.8%
Net Income 176,496 125,816 +40.3%
Show Equity Components breakouts
Accumulated Distributions In Excess Of Net Income 176,302 125,824 +40.1%
Noncontrolling Interest 194 -8 +2525.0%
Parent 176,302 125,824 +40.1%
Net Income Loss Attributable To Noncontrolling Interest -194 8 -2525.0%
Net Income 176,302 125,824 +40.1%
Income Loss From Continuing Operations Per Basic Share 0.8 0.57 +40.4%
Income Loss From Continuing Operations Per Diluted Share 0.8 0.57 +40.4%
Wtd Avg Shares (Basic) 220,620,496 220,401,156 +0.1%
Wtd Avg Shares (Diluted) 221,618,296 220,720,310 +0.4%
Comprehensive Income 188,362 125,325 +50.3%
Net Income Loss Available To Common Stockholders Basic 176,302 125,824 +40.1%

Balance Sheet

Balance Sheet
Metric Q1 2026 Q1 2025 YoY
Current Assets
Cash & Cash Equivalents 239,266
Non-Current Assets
Goodwill 983,970 974,497 +1.0%
Total Assets 18,200,021 17,307,305 +5.2%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 218,424 767,601 -71.5%
Intangible Assets (Q)
Show Finite Lived Intangible Assets By Major Class breakouts
Above Market Leases 160,363 178,344 -10.1%
Contracts Including Internal Software Development [Member] 2,881
Lease Agreements 1,503,606 1,393,045 +7.9%
Leases Acquired In Place 1,343,243 1,214,701 +10.6%
Software Development 2,881 1,880 +53.2%
Other Assets
Real Estate Investment Property At Cost Real Estate Leased 14,624,466 13,114,194 +11.5%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 31,861 543,941 -94.1%
Real Estate Investment Property At Cost Operating Real Estate 228,074 1,202,920 -81.0%
Show Property Plant And Equipment By Type breakouts
Building And Building Improvements · Real estate operating business 211,670 1,058,049 -80.0%
Land · Real estate operating business 16,404 144,871 -88.7%
Net Investments In Direct Financing Leases And Loans Receivable 1,199,048
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 188,180
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts
Las Vegas Retail Complex · Construction Commitment 245.9
Show Statement Scenario breakouts
Scenario Adjustment · Net investments in sales-type leases -11
Show Property Plant And Equipment By Type breakouts
Construction In Progress 44.1
Finite Lived Intangible Asset Acquired In Place Leases Net 2,467,240 2,338,805 +5.5%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 3,620 90,614 -96.0%
Finite Lived Intangible Asset Off Market Lease Favorable Net 658,128 671,887 -2.0%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 1,685 3,914 -56.9%
Real Estate Investment Property At Cost 19,176,956 18,194,755 +5.4%
Real Estate Investment Property Accumulated Depreciation -3,573,321
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary -11,914
Show Real Estate Properties breakouts
Real estate operating business -51,997
Real Estate Investments Net Including Real Estate Held For Sale 10,536
Show Disposal Group Classification breakouts
Disposal Group Heldforsale Not Discontinued Operations 10.5
Real Estate Investments 15,614,171 14,839,486 +5.2%
Equity Method Investments 309,337 304,838 +1.5%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 469.6 578.6 -18.8%
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts
CESH · Affiliated Entity 482 1,129 -57.3%
Harmon Retail Corner · Affiliated Entity 23,534 24,075 -2.2%
Kesko Senukai · Affiliated Entity 34,734 28,851 +20.4%
Las Vegas Retail Complex · Affiliated Entity 250,587 250,783 -0.1%
Show Related Party Transaction breakouts
Affiliated Entity · Owned Real Estate Segment 309,337 304,838 +1.5%
Other Assets 1,053,277 1,000,675 +5.3%
Show Related Party Transactions By Related Party breakouts
Affiliated Entity 590 1,012 -41.7%
Non-Current Liabilities
Long-Term Debt 8,753,749 7,866,302 +11.3%
Accounts Payable And Accrued Liabilities Current And Noncurrent 624,424 605,618 +3.1%
Deferred Tax Liabilities 151,742 154,888 -2.0%
Dividends Payable Current And Noncurrent 211,084 199,160 +6.0%
Total Liabilities 9,839,328 8,940,382 +10.1%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 947 92,494 -99.0%
Other Liabilities
Senior Notes 7,415,872
Show Long-Term Debt Type breakouts
Senior Notes 7,415,872
Unsecured Debt 1,174,835 1,113,910 +5.5%
Line Of Credit 61,968
Show Debt Instrument breakouts
GBP Term Loan due 2028 — borrowing in British pounds sterling · Senior Unsecured Term Loan [Member] 270
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USD · Unsecured Revolving Credit Facility: 2
Secured Debt 101,074
Below Market Lease Net 98,329
Accumulated Distributions In Excess Of Net Income -3,574,363 -3,276,497 -9.1%
Minority Interest 16,011 4,560 +251.1%
Stockholders' Equity
Common Stock 223 219 +1.8%
Additional Paid-In Capital 12,059,559 11,792,420 +2.3%
Treasury Stock Deferred Employee Stock Ownership Plan 100,549 96,952 +3.7%
Show Award Type breakouts
Long Term Incentive Plan 100.5 97 +3.6%
Accumulated Other Comprehensive Income -241,286 -250,731 +3.8%
Total Stockholders' Equity 8,344,682 8,362,363 -0.2%
Stockholders Equity Including Portion Attributable To Noncontrolling Interest 8,360,693 8,366,923 -0.1%
Show Equity Components breakouts
Accumulated Distributions In Excess Of Net Income -3,574,363 -3,276,497 -9.1%
Accumulated Foreign Currency Adjustment Including Portion Attributable To Noncontrolling Interest -243,422 -258,532 +5.8%
Accumulated Gain Loss Cash Flow Hedge Including Noncontrolling Interest 2,136 7,801 -72.6%
Accumulated Other Comprehensive Income -241,286 -250,731 +3.8%
Additional Paid In Capital 12,059,559 11,792,420 +2.3%
Common Stock 223 219 +1.8%
Deferred Compensation Obligation [Member] 100,549 96,952 +3.7%
Noncontrolling Interest 16,011 4,560 +251.1%
Parent 8,344,682 8,362,363 -0.2%
Total Liabilities & Equity 18,200,021 17,307,305 +5.2%

Cash Flow Statement

Cash Flow Statement
Metric YTD Q1 2026 YTD Q1 2025 YoY
Operating Activities
Depreciation Amortization And Accretion Net 139,901 134,521 +4.0%
Straight Line Rent Adjustments -23,379 -21,537 -8.6%
Allocated Share Based Compensation Expense 7,441 9,148 -18.7%
Realized Gain Loss On Foreign Currency Transactions And Other -6,935 29,944 -123.2%
Amortization Of Rent Related Intangibles And Deferred Rental Revenue -4,756 1,276 -472.7%
Equity Method Investment Dividends Or Distributions 3,951 5,870 -32.7%
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts
CESH · Affiliated Entity 0.5
Show Real Estate Properties breakouts
Unconsolidated Properties · Owned Real Estate Segment 4 9 -55.6%
Deferred Income Taxes 2,727 -782 +448.7%
Provision For Loan Lease And Other Losses -655 12,331 -105.3%
Show Accounts Notes Loans And Financing Receivable By Receivable Type breakouts
Finance Receivables -0.2 3.1 -106.5%
Show Real Estate Properties breakouts
Real Estate Associated with Sale-Leaseback -0.5 5.4 -109.3%
Proceeds From Sales Of Net Investments In Sales Type Leases Operating 10,206 16,282 -37.3%
Increase Decrease In Other Operating Capital Net -3,085 2,645 -216.6%
Net Cash from Operations 283,236 273,213 +3.7%
Investing Activities
Payments To Acquire Real Estate -494,727 -176,927 -179.6%
Show Finite Lived Intangible Assets By Major Class breakouts
Leases Acquired In Place · Operating Lease -72,200
Show Property Plant And Equipment By Type breakouts
Building And Building Improvements · Operating Lease -328,951
Land · Operating Lease -91,156
Show Real Estate Properties breakouts
Operating Lease -492,307
Proceeds From Sale Of Real Estate Heldforinvestment 146,493 110,437 +32.6%
Show Disposal Group Classification breakouts
Disposal Group Disposed Of By Sale Not Discontinued Operations 156.7 126.7 +23.7%
Disposal Group Disposed Of By Sale Not Discontinued Operations · Self-Storage 73
Payment Of V A T Connection With Acquisition Of Real Estate -47,739 -6,698 -612.7%
Payments To Acquire Loans Receivable -34,889 -93,206 +62.6%
Payments To Acquire Real Estate Under Construction -33,151 -27,193 -21.9%
Proceeds To V A T Refunded Connection With Acquisition Of Real Estate 10,330 17,128 -39.7%
Other Investing Activities -9,531 5,659 -268.4%
Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital 452 3,100 -85.4%
Net Cash from Investing -462,762 -173,870 -166.2%
Financing Activities
Repayments Of Lines Of Credit -1,267,286 -443,243 -185.9%
Proceeds From Issuance Of Senior Long Term Debt 1,164,445
Proceeds From Unsecured Lines Of Credit 894,940 591,044 +51.4%
Repayments Of Unsecured Debt -573,800 -450,000 -27.5%
Proceeds From Issuance Of Unsecured Debt 255,281 86,224 +196.1%
Repayments Of Senior Debt -253,205 -90,224 -180.6%
Proceeds From Issuance Of Common Stock 247,059
Payments Of Dividends Common Stock -205,334 -195,050 -5.3%
Repayments Of Secured Debt -38,827 -72,323 +46.3%
Show Long-Term Debt Type breakouts
Non-Recourse Debt -36.9
Payments Of Financing Costs -8,698 -331 -2527.8%
Tax Withholding for Share Compensation -7,488 -5,207 -43.8%
Proceeds From Payments For Other Financing Activities 3,932 -2,034 +293.3%
Payments Of Dividends Minority Interest -32 -50 +36.0%
Net Cash from Financing 210,987 -581,194 +136.3%
Other Cash Flow
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents -16,146 8,779 -283.9%
Net Change in Cash 15,315 -473,072 +103.2%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 287,707 217,629 +32.2%

Values in thousands USD. Source: SEC EDGAR 10-Q filing.

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