W. P. Carey Inc.
For the period ended Sep 30, 2025. Filed Oct 29, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Oct 29, 2025
WPC$65.05-0.4%Stored close · as of Nov 6, 2026
Contents
Consolidated Balance Sheets as of September 30, 2025 and December 31, 2024
CONSOLIDATED BALANCE SHEETS (UNAUDITED)
| September 30, 2025 | December 31, 2024 | |
|---|---|---|
| Assets | ||
| Investments in real estate: | ||
| Land, buildings and improvements — net lease and other | $14,056,399 | $12,842,869 |
| Land, buildings and improvements — operating properties | 626,368 | 1,198,676 |
| Net investments in finance leases and loans receivable | 1,149,856 | 798,259 |
| In-place lease intangible assets and other | 2,405,227 | 2,297,572 |
| Above-market rent intangible assets | 671,501 | 665,495 |
| Investments in real estate | 18,909,351 | 17,802,871 |
| Accumulated depreciation and amortization | (3,508,787) | (3,222,396) |
| Assets held for sale, net | 8,062 | — |
| Net investments in real estate | 15,408,626 | 14,580,475 |
| Equity method investments | 311,173 | 301,115 |
| Cash and cash equivalents | 249,029 | 640,373 |
| Other assets, net | 1,029,245 | 1,045,218 |
| Goodwill | 986,967 | 967,843 |
| Total assets (a) | $17,985,040 | $17,535,024 |
| Liabilities and Equity | ||
| Debt: | ||
| Senior unsecured notes, net | $6,943,940 | $6,505,907 |
| Unsecured term loans, net | 1,194,466 | 1,075,826 |
| Unsecured revolving credit facility | 354,846 | 55,448 |
| Non-recourse mortgages, net | 191,387 | 401,821 |
| Debt, net | 8,684,639 | 8,039,002 |
| Accounts payable, accrued expenses and other liabilities | 647,335 | 596,994 |
| Below-market rent intangible liabilities, net | 111,339 | 119,831 |
| Deferred income taxes | 164,846 | 147,461 |
| Dividends payable | 204,722 | 197,612 |
| Total liabilities (a) | 9,812,881 | 9,100,900 |
| Commitments and contingencies (Note 11) | ||
| Preferred stock, $0.001 par value, 50,000,000 shares authorized; none issued | — | — |
| Common stock, $0.001 par value, 450,000,000 shares authorized; 219,144,586 and 218,848,844 shares, respectively, issued and outstanding | 219 | 219 |
| Additional paid-in capital | 11,822,063 | 11,805,179 |
| Distributions in excess of accumulated earnings | (3,484,513) | (3,203,974) |
| Deferred compensation obligation | 80,186 | 78,503 |
| Accumulated other comprehensive loss | (262,222) | (250,232) |
| Total stockholders’ equity | 8,155,733 | 8,429,695 |
| Noncontrolling interests | 16,426 | 4,429 |
| Total equity | 8,172,159 | 8,434,124 |
| Total liabilities and equity | $17,985,040 | $17,535,024 |
(a)See Note 2 for details related to variable interest entities (“VIEs”).
W. P. Carey 9/30/2025 10-Q – 3
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