W. P. Carey

W.P. Carey, Inc. operates as a real estate investment trust. It operates through two segment: Real Estate Ownership and Investment Management. The Real Estate Ownership segment owns and invests in commercial real estate properties. The Investment Management segment structures and negotiates investments and debt placement transactions for the real estate investment trusts, and manages portfolios of real estate investments. The company was founded by William Polk Carey in 1973 and is headquartered in New York, NY.

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W.P. Carey, Inc. is an investment trust company, which engages in the commercial real estate business. It operates through the Real Estate and Investment Management segments. The Real Estate segment owns and invests in commercial real estate properties. The Investment Management segment structures and negotiates investments and debt placement transactions for real estate investment trusts, and manages portfolios of real estate investments. The company was founded by William Polk Carey in 1973 and is headquartered in New York, NY.

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W. P. Carey Inc. plans to reposition its portfolio by spinning off some office properties and selling others. The company believes that getting rid of office properties will improve its organic growth and attract higher valuations from investors. The strategic repositioning includes a "dividend reset" that will lower the dividend payout, but the dividend yield will still be attractive.

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Real-estate investment trust W.P. Carey said Thursday its board has approved a plan to exit its office assets by spinning off 59 properties into a separate publicly traded REIT and disposing of another 87 properties.

W.P. Carey to spin off 59 office properties into new publicly traded REIT

Large Majority of Office Portfolio to be Spun-Off into a Separate Publicly-Traded REIT On-Balance Sheet Office Sale Program Implemented to Exit Remaining Office Assets by January 2024 Assets Representing Over Half of Office Sale Program ABR in the Advanced Stages of a Sale or Sold NEW YORK , Sept. 21, 2023 /PRNewswire/ -- W.

W. P. Carey Announces Strategic Plan to Exit Office

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W. P. Carey stock price and valuation multiples have reached a multi-year low due to market concerns over inflation and interest rate risks. Such concerns may be justifiable for the REIT sector as a whole. But specific to WPC, the market has neglected its unique strengths that made it better shielded from these headwinds.

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W.P. Carey recently increased its dividend again. The REIT has boosted its payout every year since its public market listing, including in every quarter for the last two decades.

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NEW YORK , Sept. 14, 2023 /PRNewswire/ -- W.

W. P. Carey Increases Quarterly Dividend to $1.071 per Share

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The surge in interest rates has created an opportunity to invest in high-yield sectors like utilities and REITs. W. P. Carey Inc., a 50-year-old veteran REIT, offers a 7% yield, the highest in three years. W. P. Carey historically doesn't go much below 12X FFO, where it trades now.

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W.P. Carey is a spread investor that acquires real estate and leases it back to companies. W.P. Carey profits from the spread between the cap rate and cost of capital. The current cap rate for W.P Carey is 7.3% and their cost of capital is about 7% implying 30 bps of value creation. The opportunity cost for an investment in the stock is 7.76% and the current total return does not meet the opportunity cost hurdle for investment.

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W. P. Carey is a top pick for high yield in the current market, with a stable business model and mostly CPI-linked rent escalators. The company focuses on mission-critical properties and has a diverse tenant base, with international exposure for sourcing properties. Concerns include economic uncertainty and higher inflation, but WPC benefits from less competition for deals and a strong balance sheet.

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W. P. Carey offers an opportunity to buy attractive real estate at a discount to intrinsic value due to the current turmoil in the commercial real estate market. WPC is a diversified REIT with a focus on single-tenant net lease commercial real estate in the US and Europe. The company has a strong asset base, with high occupancy ratios and long lease terms, and offers a dividend yield of 6.55%.

W. P. Carey Is Undervalued And Underappreciated

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