Got $1,000? This 6%-Yielding Dividend Stock Can Turn It Into More Than $60 of Annual Passive Income.
W. P. Carey (NYSE: WPC) offers investors a big-time dividend. The diversified real estate investment trust (REIT) currently yields over 6%. At that rate, it can turn a $1,000 investment into more than $60 of annual dividend income. That's a lot more than you could earn by investing that same amount in an S&P 500 index fund, given its lower yield (1.3%).
The REIT's passive income stream should rise steadily in the coming years. A big driver is its focus on investing in high-quality commercial real estate that should supply it with a growing stream of rental income.
W. P. Carey owns a well-diversified portfolio of nearly 1,300 high-quality, operational critical properties (primarily warehouse, industrial, retail, and other real estate) secured by long-term net leases with credit-worthy tenants. It also operates 89 self-storage properties. The company's net lease portfolio supplies it with stable and growing rental income supported by built-in rent escalation clauses.
Source Fool.com
