If you’re looking for high yields in a wild market, look at VICI Properties (SYM: VICI).
With a yield of 5.45%, VICI Properties is an experiential real estate investment trust (REIT), which owns gaming, hospitality and entertainment properties, including Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las Vegas. In addition, VICI Properties owns 93 experiential assets across a diverse portfolio consisting of 54 gaming properties and 39 other experiential properties across the United States and Canada.
Helping, VICI owns a strong, diversified gaming sector portfolio with a property occupancy rate of 100%. It’s also still seeing stable dividend growth. The company paid out a quarterly cash dividend of $0.4325 per share earlier this year.
Funds like the VICI stock, too.
Richard Hander’s Jefferies Financial Group bought 2.75 million shares of VICI, as reported at the end of March. Jeffrey Talpins’ Element Capital bought 85,530 shares. Cliff Asness’ Aqr Capital Management increased its stake in VICI by 15.4% by adding 197,530 shares.
Earnings have been ok.
In its most recent quarter, the company reported funds from operations of 58 cents, which did miss estimates by 10 cents. Revenue of $984.2 million, up 3.4% year over year, beat by $7.17 million. The company also raised its 2025 adjusted funds from operations (AFFO) to a range of $2.33 to $2.36, which is above prior expectations of $2.32 to $2.35 a share.
Edward Pitoniak, Chief Executive Officer of VICI Properties added:
“VICI is proud of its long-standing partnerships, and we are very excited to have established two new strategic relationships so far this year with Cain International and its affiliate Eldridge Industries, as well as Red Rock Resorts. In February, we announced the establishment of our strategic relationship with Cain International and Eldridge Industries through a $300.0 million mezzanine loan investment related to the One Beverly Hills development project.”
In short, the VICI stock looks like a safe bet.
With a healthy yield of 5.45%, coupled with strong exposure to gaming, hospitality and entertainment properties and a 100% occupancy rate, VICI Properties is one of the top real estate investment trusts to buy and hold long term. Plus, with respectable earnings growth, dividend payout consistency and strong future growth, VICI is a must-own for income investors.
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Written by Ian Cooper