W.P. Carey Is My Favorite Net Lease REIT
The net lease niche of the real estate investment trust (REIT) sector is doing fairly well right now, with key players starting to ramp up acquisitions again. W.P. Carey (NYSE: WPC) is right in the thick of it; it started to buy new assets in late 2020. But it has some key advantages that set it apart from the pack. Here's why W. P. Carey is my favorite net lease REIT.
Since the REIT structure is specifically designed to pass income on to shareholders, dividends are probably one of the best ways to gauge success in the space. W.P. Carey has increased its dividend every year since its 1998 IPO, which amounts to roughly 24 consecutive years. Note that it has already increased its dividend in 2021, so there's likely to be another year added to the streak very soon. That isn't as long as some net lease peers, like Realty Income and National Retail Properties, both of which are Dividend Aristocrats, but W.P. Carey's record can easily go toe-to-toe with these peers and it looks like it will join the Dividend Aristocrat ranks very soon.
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Source Fool.com
