This Diversified REIT Is Ready to Pounce
The economic impact of COVID-19 has been brutal for businesses and, in turn, the property owners that house those businesses. Simply put, reduced revenue has left some businesses unable or unwilling to pay rents. As a result, some real estate investment trusts (REITs) are in survival mode, simply hoping to muddle through till better days return.
But W.P. Carey (NYSE: WPC) is thinking about things a little differently -- this unique REIT smells an opportunity.
In April, when some peers, notably industry bellwether National Retail Properties, were only able to collect around half of their rents, W.P. Carey collected 95% or so. Obviously a number closer to 100% would have been better, but relative to its competitors, the real estate investment trust was basically still hitting on all cylinders at a time when others were breaking down on the side of the road. The disparate performance isn't actually all that surprising.
Source Fool.com
