This real estate investment trust still looks like a good deal for income investors. It slowly but steadily grows its dividend, has very good portfolio and dividend coverage stats, and the shares are everything but expensive. Today, income investors pay less than 13 times run-rate adjusted funds from operations for the REIT, and investors' yield on cost will only rise in the future. An investment in it Carey yields 6.38 percent.
W.P. Carey (NYSE:WPC) is an internally managed REIT that owns a big real estate portfolio and that also accepts clients for its non-traded investment program. The REIT has a highly diversified property portfolio comprising of 903 net lease properties totaling 88 million square footage. 95 percent of W.P. Carey's adjusted funds from operations, or AFFO, originate from the REIT's real estate portfolio whereas the remainder, 5 percent, come from the investment management side of the business. W.P. Carey is not only highly diversified along multiple dimensions (industry, tenant, geography) but also has a very high portfolio occupancy rate of 99.1 percent.
Source: Seeking Alpha
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