The Dow closed at a record high on Friday. Investors see more gains ahead as the Fed kicks off a new cycle of easing interest rates.

As noted above, the REIT has a record amount of liquidity (a cool $3.2 billion) including a zero balance on its revolving credit facility. With lower interest rates, that facility is now going to be a cheaper source of instant capital. And when W.P. Carey permanently pays for the deals it makes by selling bonds, those will be cheaper, too.

Wall Street is holding near its records after the Federal Reserve kicked off its efforts to prevent a recession with a bigger-than-usual cut to interest rates.