VICI - Want Decades of Passive Income? 3 Stocks to Buy Now and Hold Forever
2024-05-23 07:03:00 ET
While benchmark indices like the S&P 500 have been reaching record highs, there are some excellent opportunities to add income to your portfolio. Due to the elevated interest rate environment, many top dividend stocks are trading well below their highs, despite strong results from the businesses themselves. Here are three in particular that are looking attractive as we head into the summer months.
Vici Properties (NYSE: VICI) spun off of Caesars Entertainment (NASDAQ: CZR) about seven years ago to separate some of the latter's real estate assets and has already established an impressive track record. In the years since it went public, Vici acquired its largest rival, one of the most impressive properties on the Las Vegas Strip, and has started to branch out to other property types.
On the gaming side, Vici is the largest owner of gaming real estate in Las Vegas, with properties that include Caesars Palace, Mandalay Bay, MGM Grand, The Venetian, and several others. It also owns an impressive collection of regional gaming real estate, including properties such as The Borgata in Atlantic City and MGM National Harbor in D.C. And management is starting to branch out into other opportunities, such as acquiring a portfolio of Bowlero entertainment centers and making several construction loans to property developers.
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Want Decades of Passive Income? 3 Stocks to Buy Now and Hold Forever