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This statistic highlights WP Carey’s Revenue by Segment, split between Investment Management and Real Estate, reported on a quarterly basis from 2016 onwards.
WP Carey’s Revenue by Segment
|Revenue by Segment||Q4 2020||Q3 2021||Q4 2021||Contribution in Q4 2021|
(All figures in millions, except percentages)
There is a gradual rise in the total revenue generated with each passing quarter. The incremental increase in revenue on a quarter-on-quarter basis, from Q3 2021 to Q4 2021, stands at 15.08%. Moreover, on yearly grounds, the total revenue increased from $307.37 million in Q4 2020 to $374.88 million in Q4 2021, marking a jump of 21.96% on a year-on-year basis. As shown, the highest total revenue of $374.88 million is earned in the latest quarter of Q4 2021.
WP Carey derives asset management revenue by managing the real estate investment portfolios for the Managed Programs through TRSs. Through its advisory arrangements with certain of the Managed Programs, the firm may earn incentive revenue and receive other remuneration, including in connection with facilitating a liquidity event for CPA:18 – Global investors. WP Carey also includes equity income from its (i) ownership of Managed Programs shares and limited partnership units and (ii) special general partner interest in CPA:18 – Global Operating Partnership.
The revenue generated from this segment has been decreasing constantly. The revenue fell by almost 8.8% on a yearly basis, from Q4 2020 where the revenue generated was $5 million to Q4 2021 where the revenue generated is $4.56 million. When compared to Q3 2021 where the revenue generated was $4.91 million, the decrease in revenue was 7.13% on a quarterly basis. The contribution to revenue mix from this segment fell from 1.63% in Q4 2020 to 1.51% in Q3 2021 and further declined to 1.22% in Q4 2021.
The majority of earnings of the company come from lease revenues from real estate investments. WP Carey generally invests in commercial properties leased to firms on a triple-net lease basis in the United States and Northern and Western Europe. The company’s owned portfolio, as of December 31, 2021, consisted of full or partial ownership interests in 1,304 properties totalling to approximately 156 million square feet, nearly all of which were net leased to 352 tenants. These properties have a weighted-average lease term of 10.8 years and a 98.5 percent occupancy rate. In addition, as of December 31, 2021, the portfolio included full or partial ownership interests in 20 operating properties, totalling to roughly 1.4 million square feet, including 19 self-storage businesses and one hotel.
The revenue generated from this segment has been increasing constantly. The revenue grew by 22.47% on a year-on-year basis, from Q4 2020 where the revenue generated was $302.37 million to Q4 2021 where the revenue generated is $370.32 million. On a quarterly basis, the revenue witnessed an increase of 15.42%, from$320.84 million in Q3 2021 to $370.32 million in Q4 2021. The contribution to revenue mix from this segment increased slightly from 98.37% in Q4 2020 to 98.78% in Q4 2021.
WP Carey was founded in 1973 and became a publicly traded corporation on the New York Stock Exchange in 1998 before reorganising as a real estate investment trust (REIT) in 2012. The corporation is headquartered in New York, with offices in Dallas, London, and Amsterdam. W. P. Carey Inc., along with its consolidated subsidiaries and predecessors, is an internally-managed diversified REIT and a leading owner of commercial real estate that is net-leased on a long-term basis to corporations, principally in the United States and Northern and Western Europe. The company’s real estate portfolio, which consists mostly of single-tenant industrial, warehouse, office, retail, and self-storage buildings that are crucial to its tenants’ operations, generates the vast bulk of the company’s revenues. WP Carey has a portfolio of 1,304 properties in 24 countries that are net-leased to 352 tenants.
As of December 31, 2021, properties in the United States generated around 63 percent of the contractual minimum annualized base rent, while properties in Europe generated approximately 35 percent. The company’s portfolio contained 20 functioning properties as of the same date, including 19 self-storage units and one hotel. WP Carey also derives fees and other income through its investment management division, which manages the portfolios of two surviving non-traded investment programs. The common stock of the company is publicly traded on the NYSE under the symbol “WPC” and is a component of the Russell 1000 index.
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