Strategic Growth and Portfolio Optimization Drive Buy Rating for W. P. Carey Inc.We hosted investor meetings with Jason Fox (CEO), Jeremiah Gregory (Head of Strategy & Capital Markets), & Peter Sands (IR) focused on WPC's refined strategy focused on industrial and warehouse (64.5% of ABR vs. 50.6% in 2022), accretive acquisitions, and internal growth approximately 75-100 bps above net-lease peers. WPC is targeting mid-single-digit AFFOps growth supported by 2.5%+ contractual SS growth, ~$2B of accretive acquisitions, and higher spread investment opportunities in Europe. Reiterate Outperform.