Why I Recently Invested Another $1,100 Into This Incredible High-Yield Dividend Stock
W. P. Carey (NYSE: WPC) has an incredible track record of paying dividends. The real estate investment trust (REIT) has increased its payout every year since its public market listing in 1998, raising it in most quarters. It currently offers a 6.6% dividend yield, significantly above the market's average (the S&P 500's dividend yield is around 1.6%).
I want more of that steadily rising income stream in my portfolio, which drove me to buy another $1,100 in shares. Here's why I'm confident that the diversified REIT can continue increasing its attractive dividend.
W. P. Carey owns a diversified portfolio of operationally critical commercial real estate. It has 1,475 single-tenant properties across North America and Europe, net leased to nearly 400 tenants. These properties include warehouses (24% of its annual base rent), industrial buildings (29%), retail locations (17%), office buildings (16%), self-storage facilities (4%), and a variety of other properties (10%). In addition, W. P. owns and operates 85 self-storage locations.
Source Fool.com
