The company says it is conservatively protecting its dividend by keeping dividend payouts to within 60% to 70% of distributable cash flow (DCF). In the first half of the year, it paid out $1.24 per share in dividends while it managed $2.03 per share in DCF, putting the ratio at 61%. Enbridge is having a solid year. Through six months, it reported $1.16 in adjusted earnings per share, up from $1.09 year over year. The company said it expects full-year EBITDA to be between $10.85 billion and $11.62 billion, up from $10.38 billion in 2020.
W.P. Carey is a REIT that specializes in single-tenant net leases for warehouses and industrial, office, retail, and self-storage properties. Its strength is its large, diversified portfolio, which includes 1,266 properties and more than 150 million square feet of rental space across 25 countries.
W.P. Carey is a Steady Eddie kind of stock
The pandemic had some impact on W.P. Carey because it leases office and retail space. However, the biggest share of its properties are in industrial (24.9%) and warehouses (23.4%), and its largest client, U-Haul, represents only 3.2% of its holdings.
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