W. P. Carey's Dividend Buffer Is Rebuilding — But Leverage And October Timing Are Worth Watching

W. P. Carey (WPC) holds a BBB+ credit rating from S&P, placing it within the upper tier of investment-grade net-lease REITs. The company's dividend buffer — the spread between AFFO and the annual dividend — is approximately 28%, leaving a meaningful cushion after meeting payout obligations.