W. P. Carey: 6.2% Dividend Yield And 30% Potential Upside Once Office Sale Is Finalized [Seeking Alpha]
Net Lease Office Properties Common Shares of Beneficial Interest (NLOP)
Company Research
Source: Seeking Alpha
I present my outlook and upgrade the stock to a BUY. This idea was discussed in more depth with members of my private investing community, High Yield Landlord. Learn More » Dear readers, W. P. Carey NYSE: WPC ) is a diversified REIT which was on a roller coaster last year as it went from being regarded as one of the highest quality REITs out there with a top notch management team to being hated because of management's poorly communicated decision to spin-off the majority of their office assets. I covered the stock in early January and concluded that it was positioned to deliver roughly 10% annual returns over the next two years. At that time, the stock had bounced from its bottom near $50 per share and was trading at $64 per share. I issued a HOLD rating. Since then, the price has retraced to $55 per share for an RoR of -13%, well below the return of the S&P 500 ( SPX ) over the same period. The REIT has also released their full year 2023 results and has finalized the sale
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Sec Filings
- 5/10/24 - Form 8-K
- 5/10/24 - Form 10-Q
- 4/5/24 - Form SC
- NLOP's page on the SEC website