EarningsQ2 2026 Earnings Report
MX:WPC Q2 2026 EPS Results
Actual EPS$20.06
Consensus EPS$12.19
Beat/MissBeat by +$7.87
One Year Ago EPS$4.29
MX:WPC Q2 2026 Revenue Results
Actual Revenue$7.90B
Expected Revenue$7.76B
Beat/MissBeat by +$141.73M
YoY Revenue Growth+7.03%
Earnings Announcement Details
QuarterQ2 2026
Date07/28/2026
TimeAfter Close
Conference CallTuesday, July 28, 2026
MX:WPC Upcoming Earnings
W. P. Carey Inc.'s next earnings date is estimated for October 30, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:WPC Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized strong operational execution: raised AFFO and investment-volume guidance, robust liquidity and capital-market execution, high occupancy, and compelling yields on new investments. Notable challenges were concentrated and manageable — Hellweg exposure has been materially reduced and rent-loss guidance was lowered; impairments were limited and described as non-AFFO impacting. Interest-rate and refinancing pressure and some timing-related same-store variability are the principal risks cited. Overall the positives (growth, balance-sheet strength, and capitalization) outweigh the contained negatives.Company Guidance
AFFO Per Share Growth and Raised Guidance
Q2 AFFO per share was $1.34, up $0.06 or 4.7% YoY. Full-year AFFO guidance was raised and narrowed to $5.19–$5.27 (midpoint up $0.02), implying ~5.2% YoY growth.
Strong Investment Activity and Upgraded Investment Volume Guidance
Completed just over $700M of investments in Q2 and $1.3B YTD at a weighted average initial cash cap rate of 7.4%; factoring escalations and ~18-year average lease term yields an average yield above 9%. Full-year investment-volume guidance increased to $1.7B–$2.1B (from $1.5B–$2.0B).
Robust Capital Markets Execution and Liquidity
Nearly $900M of forward equity sold and ~ $1.5B of bonds issued YTD; ended the quarter with ~$2.7B liquidity and ~ $691M of unsettled forward-equity proceeds available for settlement.
Balance Sheet & Leverage
No remaining 2026 debt maturities after July issuance; issued $350M 10-year bonds at 5.2%. Weighted-average interest rate on debt was low at 3.2% in Q2; net debt / adjusted EBITDA was 5.1x inclusive of unsettled forward equity (5.5x ex).
High Portfolio Occupancy and Strong Same-Store Contractual Rent Growth
Portfolio occupancy was 98.5% at quarter end (up 40 bps QoQ). Contractual same-store rent growth was 2.6% YoY, supported by CPI-linked increases (2.7%) and fixed escalations (2.5%).
Dividend Increase and Attractive Yield
Quarterly dividend raised 4.4% YoY to $0.94, sustaining a payout ratio just over 70% and delivering an annualized dividend yield close to 5% at the then-current share price.
Reduced Rent-Loss Reserve and Minimal Year-to-Date Losses
Lowered full-year estimated rent-loss from tenant credit events to $7M–$10M (40–60 bps of ABR) from $8M–$12M. Through June rent loss across the portfolio was minimal at $1.7M.
Operational Wins — Large Accretive Transactions and Pipeline
Completed a $400M GardenCore sale-leaseback (20-year triple-net lease) making it the 4th largest tenant; near-term pipeline includes several hundred million of opportunities plus $133M of cap projects delivering in H2 and ~10 projects adding ~$300M over 18 months.
MX:WPC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed