Elliott FishmanVICI Properties VICIBUYNov 19, 2019

Is a REIT that pays nearly an 8% dividend. They started owning the real estate of casinos, but has expanded into wellness resorts, bowling alleys and water parks. The core casino business is dicey now with gas prices skyrocketing. Growth has slowed to low single digits.

Pays a 6% dividend and has an excellent management team.

VICI has been flat since 2021, although it does pay a nice yield of 6%, and analyst estimates have been rising. It trades at a good valuation of 1.2X book, and 15X forward EV/EBITDA. Margins are growing, and it has a good free cash flow yield. We might expect to see it perform better in a declining interest rate environment, but it has been quite choppy over the past several years. We would consider it a decent income stock, but we would not expect too much in the way of capital appreciation.
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Pays a 5% dividend, more than T-Bills. It won't set the world on fire, but it's fine. A well-run company.

It's a consistent dividend payer, so he likes it.

Was the only real estate play to give a positive return last year on the S&P. Yesterday they reported another solid quarter; total revenues jumped 100% YOY in Q4. They own Caesars Palace and MGM Grand in Vegas.