Why I'm Putting $750 Into This 5.5%-Yielding REIT
I love to collect passive income. Because of that, I'm always putting more of my hard-earned money to work for me.
One of my favorite passive-income sources is real estate investment trusts (REITs). I own several, including diversified REIT W.P. Carey (NYSE: WPC). I recently put another $750 into that REIT (enough to buy 10 more shares). Here's why I keep adding to my position in W.P. Carey.
W.P. Carey has been an excellent passive income stock over the year. The REIT has increased its dividend every year since its initial public offering in 1998. It currently yields 5.5%, which is well above the REIT sector's average of around 3% and the S&P 500's 1.3% dividend yield.
Source Fool.com
