This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

W. P. Carey Traditionally 'Investing for the Long Run'

Stocks in this article: WPC

NEW YORK ( TheStreet) -- W. P. Carey Inc. (WPC) completed its first day of trading as a REIT, with shares down 1.69 percent to $48.17 on Monday.

President and CEO Trevor Bond said in a statement early in the day that the increase in scale and liquidity that would result from its REIT conversion would enhance its appeal to individual and institutional investors, giving it better access to public equity markets.

Almost 10 months ago the company's founder, William Polk Carey, passed away after leading the iconic sale-leaseback legend to more than four decades of consistency and repeatable dividend success. Carey once explained his company's value proposition:

"These returns demonstrate our success in fulfilling our most important corporate mission: Investing for the long run. Our aim is to help our investors build and maintain lifestyles, and have the resources they need to meet their obligations and achieve their dreams, without constant worry about where the income to fund will come."

As one of the largest triple-net REITs in the nation, W.P. Carey owns 429 properties comprised of around 39.1 million square feet leased to more than 130 companies around the world with a diverse portfolio across geographies, industries, and property types.

The newly merged companies -- W. P. Carey & Co. LLC and Corporate Property Associates 15 Inc. -- are now one, W. P. Carey Inc., The REIT has more than $5 billion in net-leased real estate ($3.1 billion in equity market cap and $1.9 billion in debt).

The current dividend yield is 5.3%.

The definition of Carey's "long run" dates back to the company's founding in 1973 and its subsequent stock listing in 1998. As a pioneer of the "sale/leaseback" industry, Carey focused on strategic stable cash flows generated from long-term leases to creditworthy tenants.

Accordingly, Carey was the first to exploit the business model and the company's trademark -- "Investing for the Long Run" -- became synonymous with dividend repeatability.

In fact, Carey has consistently increased the company's dividends each of the past 45 consecutive quarters and the annual dividend growth averaged 2.4% from 1998 to 2011.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs