This 5.5%-Yielding Diversified REIT Is Putting Its Dividend on an Even Firmer Foundation
W.P Carey (NYSE: WPC) recently announced the acquisition of Corporate Property Associates 18 (CPA:18) in a transaction valued at $2.7 billion, including debt. The deal will see the company exit its investment management business, a move that will provide greater long-term durability to its earnings stream. That will help put its dividend -- which yields an attractive 5.5% -- on an even firmer foundation.
Here's a closer look at the deal and what's ahead for the diversified real estate investment trust (REIT).
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Source Fool.com
