W. P. Carey rents buildings to businesses and grows by buying more, funded partly with new shares and pricier debt. In the third quarter of 2026, its preferred earnings measure rose about 11%, while its share count rose almost 5%.
The supermarket or warehouse you use may be rented from a landlord rather than owned by the business inside. W. P. Carey is that kind of landlord. It owns 1,755 industrial, warehouse and retail properties in the United States and Europe, let to hundreds of businesses, and occupancy was 99% at the end of September 2026. It collects rent and grows mainly by buying more buildings.
Businesses pay rent for buildings they need to operate, which gives them strong reasons to keep paying and to renew. Leases are long and have rent increases written into the contract, so income rises even before a new purchase. Food makers, grocers, home-improvement retailers and car retailers pay the largest shares of the rent. What remains depends on the gap between what a new building earns and the cost of funding it: interest, overheads and new shares that split results among more owners. As a real estate investment trust (a property company that generally must pay out most of its taxable income), it keeps little cash and grows with new shares and debt.
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