ONL - Where Will W.P. Carey Be in 1 Year?
2023-09-27 09:46:15 ET
When a company that's increased its dividend annually since its initial public offering announces that it's planning to cut the payment, you know something big is going on. That's exactly what's happened with W.P. Carey (NYSE: WPC) .
Investors have reacted negatively, selling the stock, as you might expect. Before you follow suit, here's a look at what's really going on with the real estate investment trust (REIT).
The office property sector is facing very difficult times today, thanks to the lingering work-from-home trend that got started during the early days of the coronavirus pandemic. However, office assets have never exactly been easy to run. They're large and often require material investment to release or even when just renewing an existing tenant. This is why Realty Income (NYSE: O) spun off its office properties into Orion Office (NYSE: ONL) not too long ago following its acquisition of peer VEREIT.
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Where Will W.P. Carey Be in 1 Year?