3 High-Yield Dividend Stocks I Can't Wait to Buy to Boost My Passive Income
I'm about to get a big cash infusion in my portfolio. Last year, private equity giant Blackstone agreed to buy one of my holdings, Retail Opportunity Investments Corp., in an all-cash deal. That transaction should close soon. As a result of that sale, I'll lose the dividend income that the real estate investment trust (REIT) produced. That's why I plan to quickly redeploy that cash across several other income-generating investments. Among the dividend stocks I can't wait to buy are Vici Properties (NYSE: VICI), Medtronic (NYSE: MDT), and Enbridge (NYSE: ENB). This trio of higher-yielding dividend stocks will enable me to generate more passive income each year than I was collecting from Retail Opportunity Investments Corp., which is why I can't wait to buy them. Vici Properties is a REIT focused on experiential real estate, like gaming, hospitality, and entertainment destinations. It owns several iconic properties, including Caesars Palace Las Vegas and the Venetian Las Vegas. It leases these and other properties to operating tenants under long-term triple net leases (NNN). Those leases provide it with very stable rental income because its tenants cover all operating costs, including routine maintenance, building insurance, and real estate taxes. Meanwhile, a growing percentage of its leases escalate rents at rates tied to inflation. The figure stood at 40% last year and will rise to 90% by 2035. As a result, its rental income grows each year. Continue reading
I'm about to get a big cash infusion in my portfolio. Last year, private equity giant Blackstone agreed to buy one of my holdings, Retail Opportunity Investments Corp., in an all-cash deal. That transaction should close soon.
As a result of that sale, I'll lose the dividend income that the real estate investment trust (REIT) produced. That's why I plan to quickly redeploy that cash across several other income-generating investments. Among the dividend stocks I can't wait to buy are Vici Properties (NYSE: VICI), Medtronic (NYSE: MDT), and Enbridge (NYSE: ENB). This trio of higher-yielding dividend stocks will enable me to generate more passive income each year than I was collecting from Retail Opportunity Investments Corp., which is why I can't wait to buy them.
Vici Properties is a REIT focused on experiential real estate, like gaming, hospitality, and entertainment destinations. It owns several iconic properties, including Caesars Palace Las Vegas and the Venetian Las Vegas. It leases these and other properties to operating tenants under long-term triple net leases (NNN). Those leases provide it with very stable rental income because its tenants cover all operating costs, including routine maintenance, building insurance, and real estate taxes. Meanwhile, a growing percentage of its leases escalate rents at rates tied to inflation. The figure stood at 40% last year and will rise to 90% by 2035. As a result, its rental income grows each year.
