Should You Buy W.P. Carey While It's Below $65?

It is not a good start to a year when one of the first things you hand investors is a dividend cut. 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%.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.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool