Should You Buy W.P. Carey While It's Below $65? [Yahoo! Finance]
W. P. Carey Inc. REIT (WPC)
Last w. p. carey inc. reit earnings: 5/1 07:30 am
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US:NYSE Investor Relations:
wpcarey.com/investor-relations
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Source: Yahoo! Finance
That's exactly how W.P. Carey (NYSE: WPC) began 2024, with a 20% dividend cut. But there's an interesting thing about that 20% number and what came after it. Here's why you might want to buy this dividend-cutter while its shares are below $65 and the dividend yield is above 5.5%. The bad news was announced in 2023 by W.P. Carey In late 2023 W.P. Carey, a real estate investment trust (REIT), said that it would exit the office sector in one swift move. It was basically ripping the Band Aid off after years of letting its exposure to office assets shrink as a percentage of the overall portfolio. But offices still made up about 16% of rents when it made the decision. That's too much rental income to jettison at once without cutting the dividend. On top of that, the REIT's largest tenant had decided to exercise its right to buy the properties it was leasing. Before that sale, U-Haul made up 2.6% of W.P. Carey's rents. Add 2.6% to 16% and you get around 18.6%, which is just about the 2
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News
- 1 Magnificent High-Yield REIT Stock Down 39% to Buy and Hold Forever [Yahoo! Finance]Yahoo! Finance
- W. P. Carey Inc. (NYSE: WPC) had its price target lowered by analysts at UBS Group AG from $62.00 to $60.00. They now have a "neutral" rating on the stock.MarketBeat
- W. P. Carey Inc. Announces Pricing of €600 Million of Senior Unsecured NotesPR Newswire
- ASU MBA ranked No. 1 in the US for entrepreneurship [Yahoo! Finance]Yahoo! Finance
- Yahoo Finance [Yahoo! Finance]Yahoo! Finance
WPC
Earnings
- 10/29/24 - Miss
WPC
Sec Filings
- 11/19/24 - Form 8-K
- 11/15/24 - Form 4
- 11/14/24 - Form 424B5
- WPC's page on the SEC website