1 Elite Passive-Income Stock I'm Buying Hand Over Fist Right Now
A core aspect of my investment strategy is to generate passive income. I currently reinvest most of that money into producing more income and hope to eventually generate enough passive cash flow to cover all my expenses.
One of my favorite passive-income investments right now is W. P. Carey (NYSE: WPC). I've added to my position in the diversified real estate investment trust (REIT) several times over the past year and plan to continue buying shares in the future. Here's why I'm buying shares of this top-notch dividend stock hand over fist these days.
W. P. Carey has the two things I desire in a passive-income investment: It offers an above-average yielding payout that steadily rises. With a 5.9% yield following a nearly 20% slide in the share price from its 52-week high, W. P. Carey satisfies the first qualification. That's several times above the 1.7% dividend yield of an S&P 500 Index Fund.
Source Fool.com
