This 5.6%-Yielding Dividend Stock Keeps Finding New Ways to Grow
Vici Properties (NYSE: VICI) owns one of the largest collections of gaming, hospitality, and entertainment destinations in the country. Its real estate portfolio features many of the most iconic casinos on the Las Vegas Strip, including Caesars Palace Las Vegas and The Venetian Resort Las Vegas. These properties produce very stable rental income backed by long-term triple net leases with the operating tenants, allowing the real estate investment trust (REIT) to pay a very attractive dividend that currently yields 5.6%. While it's already a leading owner of experiential real estate, Vici Properties continues to find new ways to expand. That was clear last year, as it found several opportunities to put capital to work in generating additional income for investors. Meanwhile, it's already off to a good start in finding new sources of growth this year. Because of that, the REIT should have no trouble continuing to increase its high-yielding dividend. Vici Properties recently reported its fourth-quarter and full-year results for 2024. The leading experiential REIT produced $2.4 billion, or $2.26 per share, of adjusted funds from operations (FFO), increases of 8.4% and 5.1%, respectively. That enabled the REIT to increase its dividend by another 4.2% late last year, its seventh straight increase since coming public in 2018. Vici has delivered peer-leading dividend growth of 7% annually, well above the 2.2% average of other REITs focused on owning net lease real estate. Continue reading
Vici Properties (NYSE: VICI) owns one of the largest collections of gaming, hospitality, and entertainment destinations in the country. Its real estate portfolio features many of the most iconic casinos on the Las Vegas Strip, including Caesars Palace Las Vegas and The Venetian Resort Las Vegas. These properties produce very stable rental income backed by long-term triple net leases with the operating tenants, allowing the real estate investment trust (REIT) to pay a very attractive dividend that currently yields 5.6%.
While it's already a leading owner of experiential real estate, Vici Properties continues to find new ways to expand. That was clear last year, as it found several opportunities to put capital to work in generating additional income for investors. Meanwhile, it's already off to a good start in finding new sources of growth this year. Because of that, the REIT should have no trouble continuing to increase its high-yielding dividend.
Vici Properties recently reported its fourth-quarter and full-year results for 2024. The leading experiential REIT produced $2.4 billion, or $2.26 per share, of adjusted funds from operations (FFO), increases of 8.4% and 5.1%, respectively. That enabled the REIT to increase its dividend by another 4.2% late last year, its seventh straight increase since coming public in 2018. Vici has delivered peer-leading dividend growth of 7% annually, well above the 2.2% average of other REITs focused on owning net lease real estate.
