Down 20%, This 6% Yielding Dividend Stock Thinks It's a Screaming Buy
W. P. Carey (NYSE: WPC) is one of the world's 20 largest real estate investment trusts (REITs). It has a highly diversified portfolio of high-quality properties.
However, like most REITs, its stock price has been under pressure over the past year, driven down by higher interest rates and macroeconomic concerns. Shares are down about 20% from their peak, which has pushed its dividend yield up over 6%.
The company's CEO believes this sell-off is a great buying opportunity. Here's what drives that view.
Source Fool.com
