In late July, I wrote a bullish article on Realty Income (O). It received a lot of reader attention, and the stock is up 1.3% since then, the yield at 4.6%

The following week, I wrote a bullish article on W.P. Carey (WPC). It received about 12% of the reads that the Realty Income article received. The stock is down 9.2% since then, and the yield has expanded, from nearly 6% to 6.4%.

Both stocks swooned two days ago on the back of fears over renewed lockdowns and economic damage against a “second wave” of coronavirus infection.

All of this amounts to an 11.5% relative gain in favour of O since I wrote about these REITs a few weeks ago. The question for income investors is at what point do you start to favour WPC in your fresh money REIT allocations? The thesis of this article is that the answer

Read More