W. P. Carey (WPC) Q2 2026 earnings summary

Executive summary

• Achieved strong investment activity and capital markets execution in the first half of 2026, with investment activity pre-funded well into 2027.

• Raised full-year AFFO guidance and investment volume assumptions, reflecting improved rent loss outlook and inflationary benefits from CPI-linked leases.

Financial highlights

• Second quarter 2026 net income attributable to shareholders was $185.4 million, up 262.1% year-over-year, driven by mark-to-market gains, foreign debt remeasurement, and gains from joint investments.

• Revenues for Q2 2026 were $461.1 million, up 7.0% from Q2 2025, primarily due to net investment activity.

• AFFO for Q2 2026 was $305.4 million ($1.34 per diluted share), up 4.7% year-over-year.

• Quarterly cash dividend increased to $0.940 per share, annualized at $3.76, a 4.4% increase year-over-year.

Outlook and guidance

• Raised and narrowed 2026 AFFO per diluted share guidance to $5.19–$5.27, implying 5.2% year-over-year growth at midpoint.

• Full-year investment volume assumption increased to $1.7–$2.1 billion.

• Disposition volume guidance updated to $350–$550 million.