W.P. Carey (NYSE: WPC) has been in a transitional phase over the past several quarters. The real estate investment trust (REIT) made the strategic decision to exit the office market last year, which has taken several quarters. Meanwhile, one of its top tenants exercised its option to repurchase the properties it leased from the REIT. These moves and a desire to be more conservative drove it to reset its dividend last year.

The REIT completed its office sales process in the second quarter. With that headwind now in the rearview mirror, W.P. Carey expects to return to growth in the second half. Its nearly 6%-yielding dividend should grow in the coming years, making it an attractive option for those seeking passive income.

W.P. Carey's adjusted funds from operations (FFO) fell 14% in the second quarter to $1.17 per share. Several factors weighed on its results, including the impact of spinning off office REIT Net Lease Office Properties, its office sales program, other property sales (including U-Haul buying back self-storage properties), lease restructurings, and vacancies.

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Source Fool.com