If you are an income-focused investor, Real Estate Investment Trusts (“REITs”) can be attractive. And one REIT that stands out for its growing dividend yield (and growing funds from operations) is VICI Properties (an “experiential” REIT best known for its Caesar’s Palace and MGM Grand properties on the Las Vegas strip). In this report, we review VICI’s business (including what makes it special), dividend safety, valuation and risks. We conclude with our opinion on investing.
Experiential REIT: Strong 5% Yield, Attractive Valuation
If you are an income-focused value investor, the REIT we review in this report is worth considering. It’s a triple net lease REIT, with a well-covered 5.0% dividend yield and the potential for ongoing share price appreciation. It’s been largely unfazed by pandemic challenges, and has actually been wisely increasing the growth trajectory of its business in a space with high barriers to entry. In this report we review the business, dividend safety, valuation and risks, and then conclude with our opinion on investing.