Review Mortgage Lenders

Annaly Mortgage

Annaly Capital Management CEO

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3 REITs to Buy Today

Data source: Capital IQ and author's calculations.

W.P. Carey

W.P. Carey owns single-tenant commercial real estate, which it leases to the industrial, office, retail, and warehouse sectors. Its nearly 900 properties are spread across 17 countries. Approximately 68% of its rent is derived from North America, while the remainder comes from Europe, giving the company a well-diversified portfolio. Carey's leases tend to be long term (think 10 years or longer), and they typically build in rent escalators so rents continue to rise over time.

Why is this stock trading cheaply? W.P. Carey's well-diversified portfolio might actually be hurting it, at least in terms of valuation. Investors like pure plays on a given sector -- industrial, office, or retail, for example -- rather than the mishmash that is Carey's portfolio. And long-term leases are not the market's favorite right now as interest rates rise, putting pressure on long-dated cash flows like contractual rents.

The auditors of Annaly mortgage discovered that a lot of fictitious employees were on the payroll system and w?

The auditors of Annaly mortgage discovered that a lot of fictitious employees were on the payroll system and were being paid salaries. Neither the CFO nor the payroll manager was aware of the fraud.


To launder money from the company. Someone in the company added the fictitious employees in order to get money for themselves, possibly the bookkeeper.