In addition, the company closed a $17.2 billion deal earlier this year to buy out rival gaming REIT MGM Growth Properties, which owns the real estate of 15 casinos and resorts in eight states, including seven properties on the Las Vegas Strip. All of MGM Growth’s properties are operated by MGM Resorts International.
Investors receive a 4.24% distribution. Truist Financial’s $35 price target was raised last month to $40. The consensus target is $37.89. On Friday, VICI Properties stock closed at $33.64.
W.P. Carey
This is a large net lease REIT with an incredible distribution for income investors. W.P. Carey Inc. (NYSE: WPC) ranks among the largest net lease REITs, with an enterprise value of approximately $18 billion and a diversified portfolio of operationally critical commercial real estate that includes 1,215 net lease properties covering approximately 142 million square feet, as of September 30, 2020.
For nearly five decades, the company has invested in high-quality single-tenant industrial, warehouse, office and retail properties subject to long-term leases with built-in rent escalators. Its portfolio is located primarily in the United States and northern and western Europe, and it is well diversified by tenant, property type, geographic location and tenant industry.
Investors receive a 4.92% distribution. W.P. Carey stock has a $95 price target at Raymond James. That compares with a consensus target of $92.70 and Friday’s close at $85.73.
Almost all of these top companies have been hit by the move higher in interest rates, and the large-scale selling all across Wall Street of every sector this year. These top companies are all leaders in their specific REIT subsectors, and they offer multiple ways for investors to get steady growth and be paid substantial dependable income. Due to their rate sensitivity, we avoided the super-high-yielding mortgage REITs.
Lastly, while they rallied some during the summer, all these stocks have been hit reasonably hard and are offering the best entry points in well over a year.
Originally posted at 24/7 Wall St.
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