400 Million Reasons This Massive High-Yield Dividend Is Heading Higher
W.P. Carey (NYSE: WPC) offers investors an attractive dividend that currently yields over 5%. That's much higher than the S&P 500's 1.4% yield and the roughly 3% average of other real estate investment trusts (REITs).
But W.P. Carey offers more than a big-time yield. The REIT has steadily increased its high-yield dividend every year since going public in 1998. A big driver has been its ability to steadily expand its portfolio by making acquisitions. The high-yielding REIT has acquired $400 million worth of properties since the first quarter ended, suggesting it should be able to continue growing the dividend.
Those $400 million in properties that the REIT has signed deals for include about $168 million of investments that it expects to close later this year, the bulk of which should happen by the end of July. The diversified REIT maintained its broad investment approach, purchasing industrial, grocery, and lab properties across the U.S. and Europe.
Source Fool.com
