W. P. Carey Reports 5.7% AFFO Growth and $2.1B Record Investments in 2025
W. P. Carey generated 5.7% AFFO per share growth and delivered a 25% total shareholder return in 2025, ranking among the top net lease REITs. The company completed a record $2.1 billion of investments at attractive spreads and launched its Carey Tenant Solutions platform to drive future growth.
1. Strong AFFO Growth and Shareholder Returns
In 2025, W. P. Carey delivered 5.7% AFFO per share growth, among the top in the net lease sector, and provided an average dividend yield exceeding 5%, leading to a 25% total shareholder return through share price appreciation and dividends.
2. Record Investment Activity
The company completed a record $2.1 billion of property investments, executing sale-leasebacks and build-to-suit deals at compelling spreads relative to its cost of capital and proceeds from noncore asset disposals.
3. Same-Store Rent Growth and Capital Strength
Contractual same-store rent increased by approximately 2.4% year-over-year, while proactive equity sales and disciplined dispositions reinforced a conservative balance sheet with multiple access points to capital.
4. Introduction of Carey Tenant Solutions
In early 2026, W. P. Carey launched the Carey Tenant Solutions platform to partner with tenants on follow-on investments—including expansions, redevelopments and energy projects—to support their evolving real estate needs.