Stock fact sheet · data as of
W. P. Carey Inc. (WPC): fair value, margin of safety and Wheel Score
Ticker symbol WPC · Real Estate · REIT - Diversified · United States · Blend Income
Is WPC undervalued?
At 65.36 (close of 5 Nov 2026), WPC trades within a few percent of the GLS average fair value of 60.67 (7.7% above fair value). 9 models produced a value and they split 3 above the price to 6 below. A stock priced at fair value earns about half of the Wheel Score's Value points; the rest of the score comes from health, moat, premium and stability.
The 9 models disagree widely: GLS Growth gives 0.2242 while DCF gives 160.41. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.
Ranked against every other company we cover, neither cheapness nor growth clearly wins for WPC, so the nightly engine files it under Blend (value score 38, growth score 28, out of 100). It also carries the Income tag (Income = a dividend yield of 4% or more).
Nine valuation models for WPC
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 160.41 | +145% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 49.10 | -25% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 55.52 | -15% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 16.40 | -75% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 0.2242 | -100% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 100.49 | +54% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 77.48 | +19% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 55.03 | -16% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 31.36 | -52% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -42.16 | -164% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 77.56 | +19% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Financial health is average - WPC passes 5 of the nine Piotroski tests, which falls one point short of the "Piotroski 6 or more" Wheel Trade Filter. The Financials tab on the Quote page shows which tests fail. The GLS Moat score is 6.8 out of 10: a record that is solid on some of the four parts the score weighs (returns on capital, pricing power, lasting growth, balance sheet) and weaker on others.
Returns on capital are thin or negative - ROIC 2.8%, ROE 5.7%, ROA 2.6% - with debt at 1.07 times equity and a free-cash-flow yield of 7.4%.
The dividend yield is high at 5.72% (payout ratio 127%) - a payout above 100% of earnings, which is not covered by profits. A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual. Revenue comes mainly from Owned Real Estate 100%, Investment Management 0%, Management Service 0% (quarter Q3 FY2026).
Institutional ownership scores 10/10, insider activity 1/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 5 / 9 | ROIC | 2.8% |
|---|---|---|---|
| GLS Moat | 6.8 / 10 | ROE | 5.7% |
| Debt / equity | 1.07 | ROA | 2.6% |
| Free-cash-flow yield | 7.4% | Payout ratio | 127% |
| Institutions | 10 / 10 | Insiders · Congress | 1 · 5 / 10 |
Wheel Score 23: Weak
WPC scores 23 out of 100 on the Wheel Score, in the Weak band (under 50): it fails filter 3, below fair value - trades 8% above our fair value; and filter 4, financially healthy - Piotroski 5/9 (under 6); and filter 5, can repay its debt - 6.8 years to repay its debt (over 6); and filter 7, a premium worth selling - implied volatility 22% (under 25%), and the parts are thin too - value weak, premium weak, moat good, health fair, red flags weak, option trading weak, stability good. The score is not a judgement on the company; it says the price, quality and premium do not line up for selling puts on it today.
Implied volatility on the near-the-money contracts is 22%, below the 25% the Wheel Trade Filter on premium asks for: a put pays too little to be worth selling. Chain open interest is 10,080 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 1.8M shares a day on a market cap of $15.0B, with a beta of 0.77 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that good.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Passes | Listed options with 1,000+ contracts of open interest and 100+ traded a day |
| 2 | A real business, not a gamble | Passes | Profitable over the last twelve months - not a speculative stock, fund or note |
| 3 | Below fair value | Fails | trades 8% above our fair value |
| 4 | Financially healthy | Fails | Piotroski 5/9 (under 6) |
| 5 | Can repay its debt | Fails | 6.8 years to repay its debt (over 6) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Fails | implied volatility 22% (under 25%) |
| 8 | Big enough | Passes | Market cap $1 billion or more |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Weak | 8% above fair value | |
| Premium | Weak | implied volatility 22% | |
| Moat | Good | moat 6.8/10 | |
| Health | Fair | Piotroski 5/9 | |
| Red Flags | Weak | Red Flags score 65/100 | |
| Option trading | Weak | 305 contracts a day, 10,080 open interest | |
| Stability | Good | beta 0.77, $15.0B company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
No upcoming earnings date is recorded for WPC in the nightly calendar.
No analyst upgrades or downgrades were recorded in the last 30 days.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in REIT - Diversified
The 12 companies below are the closest to W. P. Carey Inc. by market cap within the REIT - Diversified industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| VICI VICI Properties Inc. | 25.25 | 48.57 | +48% | 48Weak | $27.8B |
| JAN Janus Living, Inc. | 30.07 | 11.38 | -164% | 34Weak | $7.0B |
| EPRT Essential Properties Realty Trust, Inc. | 28.12 | 21.57 | -30% | 32Weak | $6.1B |
| RITM Rithm Capital Corp. | 9.50 | 47.38 | +80% | 54Fair | $5.3B |
| BNL Broadstone Net Lease, Inc. | 18.03 | 15.24 | -18% | 31Weak | $3.5B |
| RWTQ Redwood Trust, Inc. | 20.80 | 5.56 | -274% | 11No options | $2.6B |
| PMTW PennyMac Mortgage Investment Trust | 24.97 | 14.89 | -68% | 12No options | $1.8B |
| GNL Global Net Lease, Inc. | 7.09 | 17.31 | +59% | 33Weak | $1.6B |
| FISK Empire State Realty OP, L.P. | 5.36 | 13.48 | +60% | 29No options | $1.5B |
| ESBA Empire State Realty OP, L.P. | 5.03 | 13.25 | +62% | 27No options | $1.4B |
| OGCP Empire State Realty OP, L.P. | 4.94 | 5.62 | +12% | 22No options | $1.4B |
| AAT American Assets Trust, Inc. | 22.09 | 18.10 | -22% | 34Weak | $1.4B |
Scan the whole market the same way
A free GLS Equity account gets you nightly fair value and the Wheel Score on ~7,400 US stocks, a watchlist, the scanner preview and the Sunday Scan - the top 10 stocks that pass all 9 Wheel Trade Filters, emailed every week. Pro adds the full put and call scanners, unlimited watchlists with alerts and the trade journal.
Start free See the Sunday ScanQuestions about WPC
Is WPC undervalued right now?
Not meaningfully: at 65.36 the stock trades within a few percent of the GLS average fair value of 60.67 (7.7% above fair value, data as of 5 Nov 2026).
What is the Wheel Score of WPC and what does it mean?
WPC scores 23 out of 100 (Weak) - it fails Wheel Trade Filters 3, 4, 5, 7. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for WPC?
60.67 per share as of 5 Nov 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does W. P. Carey Inc. report earnings next?
No upcoming earnings date is recorded for WPC in our calendar as of 5 Nov 2026; the Calendars page is refreshed every morning.
Does WPC have listed options, and how liquid are they?
Yes. The nightly snapshot found 66 listed contracts with 10,080 open interest across all expiries and implied volatility of 22% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.