W.P. Carey Inc. (NYSE: WPC) released its annual CEO letter detailing the company's 2025 performance. The net lease real estate investment trust reported a 25% total shareholder return for the year, combining stock price appreciation and dividends.

The company achieved 5.7% growth in adjusted funds from operations per share during 2025. W.P. Carey completed $2.1 billion in investments, marking a record investment volume for the company. The REIT also reported contractual same-store rent growth of approximately 2.4% year over year.

W.P. Carey's funding strategy in 2025 relied on dispositions of noncore operating assets. The company began forward equity sales in the second half of the year to address anticipated 2026 capital requirements.

In early 2026, W.P. Carey launched its Carey Tenant Solutions platform, which formalizes the company's approach to sourcing investment opportunities from existing tenants. The platform supports tenant real estate needs through follow-on investments including build-to-suits, expansions, redevelopments and energy solutions.

"Supported by a disciplined investment approach, a resilient portfolio and a well-capitalized balance sheet, W.P. Carey is well positioned to deliver attractive earnings growth and drive long-term value creation for our shareholders," said Jason Fox, chief executive officer and president.

As of December 31, 2025, W.P. Carey owned 1,682 net lease properties covering approximately 183 million square feet. The company operates from offices in New York, London, Amsterdam and Dallas, focusing on single-tenant industrial, warehouse and retail properties in the United States and Europe under long-term net leases with built-in rent escalations.