Jun 19, 2015

Recent Buy


We are over halfway through June, and dividends have been dropping nicely to my brokerage account this month. I found a few loose bucks there and decided to put them to work.

On June 17 I purchased 3 shares of W.P. Carey Inc.(WPC) @ 61.37 per share (Incl. fees).

Business summary From Yahoo! Finance:
"W. P. Carey Inc. is an independent equity real estate investment trust. The firm also provides long-term sale-leaseback and build-to-suit financing for companies. It invests in the real estate markets across the globe. The firm primarily invests in commercial properties that are generally triple-net leased to single corporate tenants including office, warehouse, industrial, logistics, retail, hotel, R&D, and self-storage properties. W. P. Carey Inc. was founded in 1973 and is based in New York City with an additional office in Dallas, Texas."

I initiated position in WPC early June, and now I was able to average down my cost basis a tad. With yield hovering above 6 and P/FFO below 15 this REIT is hard to resist. Quite a few DG bloggers have been on the firm this month: Dividend Mantra, Financial Freedom, Average Dividend Yield, My Dividend Pipeline, Dividend Hawk and yet who else? So, I think that I'm not in a bad company here.

WPC seems to be a decent dividend machine. Just yesterday the company declared quarterly cash dividend of $0.9540 payable on July 15 to stockholders of record as of June 30. I assume ex-dividend date to be June 26. This marks 57th consecutive quarterly dividend increase. I mean, what!? 57th and quarterly! This goes already beyond my math skills, but is this some kind of record? Surely this last increase from $0.9525 is tiny, but think about that consistency and history.

With my staggering 9 WPC shares I should receive $8.59 cash deposit in July. Hence forward 12-month dividends show $34,34. Not too shabby for $555 investment. Anyways, now I just hope that the stock price does not skyrocket, so that I will be able to add to my position more shares in coming months.

My portfolio page has been updated to reflect this purchase.

Disclosure: Long WPC

6 comments:

  1. Hi Dividend Lord,

    I am a dividend Growth investor as well and just started a blog a few weeks ago like you. Nice start to your blog.

    I am a fellow WPC owner as well. In fact its a huge part of my portfolio currently. That will change very soon as i reposition some funds in my IRA but this next dividend payment will be a nice one for me from WPC. Its a pretty hot one right now, as you noted as well.

    I added you to my follow list and will look forward to your new posts.

    -Adam

    ReplyDelete
    Replies
    1. Adam,
      Very nice to meet other beginner blogger here. Thanks for adding me to your list. I will add your blog to my list as soon as that gadget starts to work again.
      In addition to WPC I see many familiar names in your portfolio.
      Thanks for visiting and commenting!

      Delete
  2. Hi DL and congrats on a good acquisition! Thanks for the mention.

    Happy Midsummer,
    DH

    ReplyDelete
    Replies
    1. DH,
      Thank you very much. I hope that WPC will continue to be a great dividend payer.
      Thanks for stopping by and happy Midsummer to you too!

      Delete
  3. Nice purchase, DL. Lots of investors picking up WPC these days and I cant blame any of you guys...really good company from what Ive looked at.

    R2R

    ReplyDelete
    Replies
    1. Thanks R2R,
      Yeah, WPC looks solid enough for many investors now. And if everything goes wrong with the company, at least I have many fellow sufferers:)

      Delete