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W. P. Carey (WPC)

W. P. Carey (WPC - yield 5.90%) W.P. Carey owns a diversified net lease portfolio that consists of 720 properties. The well-balanced portfolio consists of office, warehouse/logistics, industrial and retail properties. The portfolio has 234 tenants that lease over 85 million square feet of space. Unlike many peer triple-net REITs, Carey’s sound...

W. P. Carey (WPC - yield 5.90%)

W.P. Carey owns a diversified net lease portfolio that consists of 720 properties. The well-balanced portfolio consists of office, warehouse/logistics, industrial and retail properties. The portfolio has 234 tenants that lease over 85 million square feet of space.

Unlike many peer triple-net REITs, Carey’s sound investment platform has a large majority of built-in contractual rent increases. In addition to its owned assets, Carey also manages a number of non-traded REIT funds that generate fees (both asset management and acquisition fees).

A few weeks ago, Carey reported that its Board of Directors had increased its quarterly cash dividend to $0.895 per share, which equates to an annualized rate of $3.58. This marks the company’s 52nd consecutive dividend increase.

I consider Carey’s current yield to be a strong reason to BUY now. Carey’s track record for dividend safety is one of the best in the REIT sector.

On the latest earnings call, Carey said it was maintaining its 2014 full year AFFO guidance of $4.40-$4.65 per diluted share. I’m initiating a BUY on W.P. Carey shares.

Brad Thomas, The Intelligent REIT Investor, www.ireitinvestor.com, April 14, 2014

Brad Thomas is a research analyst and he currently writes weekly for Forbes and Seeking Alpha where he maintains research on many publicly-listed REITs. In addition, Thomas is the Editor of the Forbes Real Estate Investor, a monthly subscription-based newsletter. Thomas has also been featured in Forbes Magazine, Kiplinger’s, US News & World Report, Money, NPR, Institutional Investor, GlobeStreet, CNN, Newsmax, and Fox. He is the #1 contributing analyst on Seeking Alpha in 2014, 2015, 2016, and 2017 (based on page views). Thomas has co-authored a book, The Intelligent REIT Investor, and is the author of The Trump Factor: Unlocking The Secrets Behind The Trump Empire (both available on Amazon). Thomas received a Bachelor of Science degree in Business/Economics from Presbyterian College and he is married with 5 wonderful kids.