Analyst Consensus ?
ConsensusHold21 ratings
Bullish838.1%
Neutral1257.1%
Bearish14.8%
W. P. Carey Inc. · WPC · FY2025 Q3 · Calendar Q4 2025
W. P. Carey Raises 2025 AFFO Guidance as Investment Activity Strengthens
The quarter’s stronger investment activity and higher AFFO outlook support a constructive operating picture, but the investment case remains exposed to tenant-specific risks, occupancy pressure and competition for net-lease assets. This is evidence about W. P. Carey, not the broader ticker group in the research hypothesis.
Reported After market closeNYSEReal Estate
$14.90B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.25
Consensus $1.23
EPS surprise
+1.6%
Reported versus consensus
Reported revenue
$656.4M
Consensus $433.3M
Revenue surprise
+51.5%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+0.3%
Event window
SPY move
+0.0%
Same window
Abnormal move
+0.2%
Stock minus SPY
Volume
2.0×
Versus trailing sessions
Subsequent drift
+1.7%
Up to 20 sessions
WPCSPY benchmark
Ask FN2 about WPC FY2025 Q3
Transcript, numbers and history already loaded
Why did WPC rise 0.3% after beating EPS estimates in FY2025 Q3?What changed in WPC's guidance and outlook in FY2025 Q3?Give me the bull and bear case for WPC after FY2025 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Management raised full-year 2025 AFFO guidance to $4.93–$4.99 per share from the prior quarter’s $4.87–$4.95 range, and increased its 2025 investment-volume target to $1.8–$2.1 billion. The analysis attributes the outlook changes to stronger investment activity and lower rent-loss assumptions.
Guidance delta
Raised: full-year 2025 AFFO guidance is now $4.93–$4.99 per share, versus $4.87–$4.95 in the prior-quarter analysis. The 2025 investment-volume target increased to $1.8–$2.1 billion.
Key takeaways
- The AFFO guidance increase signals management’s improved full-year outlook; it implies approximately 5.5% year-over-year growth, according to the transcript analysis.
- Industrial and warehouse net-lease assets, including sale-leasebacks, remain central to investment activity across the U.S. and Europe.
- Management cited more than $2.1 billion of liquidity, including a $230 million forward equity sale, as funding flexibility for continued investment.
- The operating picture is not risk-free: temporary occupancy decline, Hellweg tenant exposure and competitive pressure remain important watch items.
Management priorities
- Continue investing in industrial and warehouse assets and pursue the stated 2025 investment-volume target.
- Complete planned capital projects, with emphasis on build-to-suit developments.
- Reduce Hellweg exposure and continue evaluating non-core operating assets, including hotels and the remaining student-housing asset.
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Analyst 52W Price Targets
$64.29Current
$56Low
$73.65Average
$88High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 3, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Citigroup | Neutral | Neutral | Maintain | Oct 29, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Oct 20, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Oct 19, 2026 |
| Scotiabank | Sector Perform | Sector Perform | Maintain | Sep 24, 2026 |
| Evercore ISI Group | In Line | In Line | Maintain | Sep 21, 2026 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Jul 30, 2026 |
| BNP Paribas | Outperform | Neutral | Upgrade | Jul 29, 2026 |
| BMO Capital | Outperform | Outperform | Maintain | Jun 18, 2026 |
| B of A Securities | Neutral | Underperform | Upgrade | Jun 16, 2026 |
| Raymond James | Outperform | Market Perform | Upgrade | Mar 17, 2026 |
| UBS | Neutral | Neutral | Maintain | Mar 9, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Dec 9, 2025 |
| JMP Securities | Market Perform | Market Perform | Maintain | Feb 13, 2025 |
| Wolfe Research | Perform | Peer Perform | Maintain | Jun 28, 2022 |
| Mitsubishi UFJ | Neutral | Neutral | Maintain | Mar 26, 2019 |
| Bank of America | Underperform | Underperform | Maintain | Aug 13, 2018 |
| Baird | Outperform | Outperform | Maintain | Oct 18, 2017 |
| Capital One Financial | Equal Weight | Overweight | Downgrade | Feb 11, 2016 |
| Capital One | Equal Weight | Overweight | Downgrade | Feb 11, 2016 |
| Ladenburg Thalmann | Buy | Neutral | Upgrade | Jun 19, 2013 |
| Evercore Partners | Overweight | Overweight | Maintain | May 6, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $64.29. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Barclays | Analyst unavailable | $76 | $63.77 | +18.2% | Oct 20, 2026 |
| Wells Fargo | Analyst unavailable | $73 | $65.14 | +13.5% | Oct 19, 2026 |
| Scotiabank | Analyst unavailable | $68 | $66.49 | +5.8% | Sep 24, 2026 |
| Jefferies | Joe Dickstein | $73 | $66.2 | +13.5% | Sep 22, 2026 |
| Evercore ISI | Analyst unavailable | $75 | $66.62 | +16.7% | Sep 21, 2026 |
| Scotiabank | Greg McGinniss | $76 | $66.38 | +18.2% | Sep 17, 2026 |
| Scotiabank | Greg McGinniss | $77 | $71.4 | +19.8% | Aug 13, 2026 |
| Evercore ISI | Analyst unavailable | $77 | $73.31 | +19.8% | Jul 30, 2026 |
| BNP Paribas | Analyst unavailable | $88 | $75.61 | +36.9% | Jul 29, 2026 |
| Barclays | Richard Hightower | $80 | $75.23 | +24.4% | Jul 22, 2026 |
| UBS | Analyst unavailable | $76 | $71.84 | +18.2% | Jun 18, 2026 |
| BMO Capital | John Kim | $84 | $72.23 | +30.7% | Jun 18, 2026 |
| Wolfe Research | Andrew Rosivach | $85 | $74.49 | +32.2% | Jun 8, 2026 |
| Barclays | Analyst unavailable | $78 | $73.9 | +21.3% | May 19, 2026 |
| Scotiabank | Analyst unavailable | $79 | $74.05 | +22.9% | May 12, 2026 |
| RBC Capital | Analyst unavailable | $73 | $73.21 | +13.5% | Apr 30, 2026 |
| Barclays | Analyst unavailable | $72 | $73.74 | +12.0% | Apr 21, 2026 |
| UBS | Analyst unavailable | $75 | $72.4 | +16.7% | Mar 9, 2026 |
| Evercore ISI | James Kammert | $74 | $74.61 | +15.1% | Feb 17, 2026 |
| RBC Capital | Brad Heffern | $72 | $73.32 | +12.0% | Feb 12, 2026 |
| Scotiabank | Analyst unavailable | $72 | $69.26 | +12.0% | Feb 2, 2026 |
| Barclays | Analyst unavailable | $65 | $66.45 | +1.1% | Jan 13, 2026 |
| RBC Capital | Brad Heffern | $70 | $66.31 | +8.9% | Jan 7, 2026 |
| Evercore ISI | James Kammert | $71 | $65.62 | +10.4% | Dec 15, 2025 |
| Barclays | Richard Hightower | $67 | $66.44 | +4.2% | Dec 3, 2025 |
| RBC Capital | Analyst unavailable | $69 | $66.28 | +7.3% | Oct 30, 2025 |
| Barclays | Analyst unavailable | $66 | $68.46 | +2.7% | Oct 20, 2025 |
| Evercore ISI | James Kammert | $70 | $68.65 | +8.9% | Sep 15, 2025 |
| BNP Paribas | Nate Crossett | $66 | $63.3 | +2.7% | Jun 9, 2025 |
| Barclays | Richard Hightower | $61 | $60.36 | -5.1% | May 21, 2025 |
| Barclays | Analyst unavailable | $60 | $64.46 | -6.7% | Mar 4, 2025 |
| Barclays | Brendan Lynch | $56 | $59.85 | -12.9% | Oct 10, 2024 |
| Evercore ISI | James Kammert | $66 | $63.75 | +2.7% | Sep 16, 2024 |
| UBS | Mike Goldsmith | $57 | $56.08 | -11.3% | May 31, 2024 |
| RBC Capital | Brad Heffern | $63 | $55.92 | -2.0% | May 3, 2024 |
Track every rating change on WPC the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationW. P. Carey is recognized as a leading net lease Real Estate Investment Trust (REIT), boasting an enterprise value of approximately $18 billion. As of September 30, 2020, its extensive portfolio comprises 1,215 essential net lease properties, spanning an estimated 142 million square feet of commercial real estate. For nearly five decades, the company has strategically invested in high-quality, single-tenant industrial, warehouse, office, retail, and self-storage assets. These properties are secured by long-term net leases, which incorporate built-in rent increases. The portfolio's primary geographical footprint is in the United States, along with Northern and Western Europe, and it exhibits strong diversification across tenant profiles, property categories, locations, and the industries of its occupants.
Historical context
All WPC earningsReal Estate peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| O Realty Income Corporation | FY2026 Q3 · Calendar Q4 2026 | +5.7% | +1.1% | Realty Income raises 2026 AFFO outlook as Europe and credit broaden investment mix |
| SBAC SBA Communications Corporation | FY2026 Q3 · Calendar Q4 2026 | +4.8% | -1.2% | SBA Communications Raises AFFO Guidance as Edge Computing Develops |
| CUBE CubeSmart | FY2026 Q3 · Calendar Q4 2026 | +2.3% | +4.0% | CubeSmart returns to positive NOI and FFO growth in Q3 |
| GLPI Gaming and Leisure Properties, Inc. | FY2026 Q3 · Calendar Q4 2026 | -11.5% | -1.3% | GLPI Keeps Guidance, Advances Development Despite Bally’s Risks |
| FRT Federal Realty Investment Trust | FY2026 Q3 · Calendar Q4 2026 | +3.9% | -1.1% | Federal Realty raises 2026 FFO outlook as leasing stays strong |
| WY Weyerhaeuser Company | FY2026 Q3 · Calendar Q4 2026 | +128.3% | +3.0% | Weyerhaeuser: Timberlands Strengthen as Growth Projects Advance |
Latest beats and misses
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Missed on EPS
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Get the WPC recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-11-03T14:10:46.218067+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-03T14:10:46.215283+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-03. For educational purposes only; not investment advice.