WP Carey raises 2026 AFFO outlook on higher expected investment volume, lower rent loss risk

W. P. Carey

28/04/2026 21:39

Overview

US net lease REIT's Q1 revenue rose 10.9% yr/yr, beating analyst expectations

AFFO per share rose 11% yr/yr, driven by investment activity and rent escalations

Company raised 2026 AFFO guidance on higher expected investment volume and lower rent loss risk

Outlook

WP Carey raises 2026 AFFO guidance to $5.16-$5.26 per diluted share

Company expects 2026 investment volume of $1.5 bln-$2.0 bln, revised higher

WP Carey says strong liquidity and portfolio performance support outlook for continued capital deployment

Result Drivers

INVESTMENT ACTIVITY - Lease revenues and income from finance leases increased due primarily to net investment activity

RENT ESCALATIONS - Contractual same-store rent growth was 2.4% yr/yr, contributing to higher revenues

PROPERTY SALES - Operating property revenues decreased due to the sale of all remaining self-storage operating properties

Company press release: ID:nPnQ2SYsa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$454.50 mln
$438.14 mln (7 Analysts)
Q1 EPS
$0.80
Q1 Net Income
$176.30 mln
Q1 AFFO
$288.70 mln
Q1 AFFO Per Share
$1.30


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 8 "hold" and 2 "sell" or "strong sell"

The average consensus recommendation for the diversified reits peer group is "buy."

Wall Street's median 12-month price target for W.p. Carey Inc is $73.00, about 0.8% above its April 27 closing price of $72.40

The stock recently traded at 26 times the next 12-month earnings vs. a P/E of 15 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)