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Fly News Breaks for December 11, 2015
WPC
Dec 11, 2015 | 06:44 EDT
Citi analyst Michael Bilerman downgraded W.P. Carey to Sell citing an "elevated" valuation and expectations for lower growth relative to peers. The shares should trade at a discount to peers given its exposure to the non-traded REIT business as well as its larger exposure to office, industrial, and warehouse assets. Bilerman cut his price target for W.P. Carey to $54 from $70.
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