2024-03-24 08:30:00 ET
Summary
- W.P. Carey stock has underperformed the S&P 500 since my caution in January 2024.
- The unexpected restructuring likely surprised investors. However, fears have likely peaked.
- A less hawkish Fed and improved buying sentiments should provide more growth opportunities for W. P. Carey.
- I explain why it's an opportune moment to turn bullish again on WPC before the market realizes it.
I cautioned investors in leading net-lease REIT W. P. Carey Inc. ( WPC ) to be cautious about adding more shares in mid-January 2024, highlighting a much less attractive risk/reward profile. I urged investors to watch out for profit-taking possibilities in WPC , intensifying downside volatility. Accordingly, WPC has declined more than 16% since my caution, significantly underperforming the S&P 500 ( SPX ) ( SPY ). With WPC's valuation dropping back into undervalued levels, I assessed it timely to reconsider whether WPC buyers should return and buy its recent steep pullback....
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W. P. Carey: Fears Have Likely Peaked, Time To Turn Bullish (Rating Upgrade)