I have kicked W. P. Carey (WPC) out of my portfolio on Monday after shares have had an extremely good run in 2019. Taking profits in income vehicles that have performed well is the smart thing to do, especially when shares have become widely overbought and overvalued. While I don’t think that W. P. Carey’s dividend is at risk, I think it is a good time to scale back exposure to high-yielding BDCs and REITs in light of growing downside risks. W. P. Carey’s shares have surged a whopping ~28.0 percent in 2019 on the back of a major stock market rebound after the December 2018 sell-off. According to the Relative Strength Index, or RSI, which flashes a value of 75.02, WPC is now widely overbought, which exposes investors to correction risks. The increase in share price is driven largely by an improvement in investor sentiment and not due to a fundamental change in W. P. Carey’s value proposition, in my opinion. W. P. Carey is a commercial property real estate investment trust with a national real estate platform. At the end of the March quarter, W. P. Carey’s real estate portfolio included 1,168 properties reflecting 134 million square feet, which makes ...