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NEW YORK - W. P. Carey Inc. (NYSE:WPC), a $13.74 billion market cap real estate investment trust with an impressive 5.69% dividend yield, has priced a $400 million public offering of 4.650% Senior Notes due 2030, the company announced Monday.
The notes were offered at 99.088% of principal amount, with interest to be paid semi-annually beginning January 15, 2026. The offering is expected to settle on July 10, subject to customary closing conditions.
The company plans to use the proceeds to repay existing debt, including a portion of its $2.0 billion unsecured revolving credit facility, and for general corporate purposes.
Wells Fargo Securities, BofA Securities, Scotia Capital and Mizuho Securities USA served as joint book-running managers for the offering.
W. P. Carey is an internally-managed diversified REIT that primarily owns commercial real estate properties net leased to companies in the United States and Northern and Western Europe on a long-term basis. The company’s portfolio consists mainly of single-tenant industrial, warehouse and retail facilities.
A registration statement for the notes has been filed with the Securities and Exchange Commission and has become effective under the Securities Act of 1933.
The announcement was made in a company press release statement.
In other recent news, W. P. Carey Inc. reported its first-quarter 2025 earnings, revealing mixed results with revenue outperforming expectations while earnings per share (EPS) fell short. The company achieved a revenue of $409.9 million, surpassing the anticipated $388.95 million, although its EPS of $0.57 missed the forecasted $0.61. Despite the EPS miss, the real estate investment trust maintained its AFFO guidance range for the year, indicating confidence in its financial outlook. In another development, W. P. Carey announced an increase in its quarterly dividend to $0.900 per share, reflecting an annualized rate of $3.60 per share. This move highlights the company’s commitment to returning value to its shareholders. Additionally, the firm plans to invest $1 billion to $1.5 billion and complete eight capital projects in 2025, according to company executives. These recent developments indicate W. P. Carey’s strategic focus on growth and financial stability amid broader economic uncertainties.
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