WPC - Why W.P. Carey Shares Are Falling Today? | Benzinga

Several analysts lowered the price target on W.P. Carey Inc (NYSE: WPC). Last week, WPC planned to exit the office assets in its portfolio by spinning off 59 office properties into Net Lease Office Properties (NLOP) and creating a separate publicly traded REIT.

Also, the company plans to implement an asset sale program to divest 87 office properties retained by WPC. 

The spin-off is expected to close by November 1, 2023, subject to certain conditions, and the sale is projected to be completed by January 2024.

Related: This REIT Is Getting Rid Of Its Entire Office Building Portfolio — And Is Gearing Up For A Dividend Reset

BMO Capital Markets analyst John P. Kim downgraded W.P. Carey Inc (NYSE:

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