2024-12-11 06:10:00 ET
Sometimes you just have to call it like you see it: 2024 was a terrible year for W.P. Carey (NYSE: WPC) . But it's important to understand what that bad year was really about. For this real estate investment trust (REIT), it was about setting the stage for a brighter future. Indeed, that bad 2024 should make you want to buy W.P. Carey stock even more.
Essentially, the first thing that greeted W.P. Carey investors in 2024 was a dividend cut. Not only that, but the cut occurred after 24 consecutive annual dividend increases. So, just on the cusp of the REIT reaching a major milestone, management and the board chose to trim the dividend. That's not a good look but there's more to understand here.
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