5 Best REIT Dividend Stocks

4. VICI Properties Inc. (NYSE:VICI)

Number of Hedge Fund Holders: 40

VICI Properties Inc. (NYSE:VICI) is a New York-based REIT that invests in facilities related to gaming, entertainment, leisure, and hospitality. On March 9, the company announced a quarterly dividend of $0.39 per share, consistent with its previous dividend. The company has been raising its dividends every year since the inception of its dividend policy in 2018. The stock has a dividend yield of 4.68%, as recorded on April 18.

Mizuho initiated its coverage on VICI Properties Inc. (NYSE:VICI) in April with a Buy rating and a $35 price target. The firm appreciated the company’s highest-quality portfolio and its gaming business.

At the end of Q4 2022, VICI Properties Inc. (NYSE:VICI) was a part of 40 hedge fund portfolios, up from 33 in the previous quarter, according to Insider Monkey’s database. The stakes owned by these funds have a collective value of over $840.3 million.

Baron Funds mentioned VICI Properties Inc. (NYSE:VICI) in its Q4 2022 investor letter. Here is what the firm has to say:

“We remain optimistic about the Fund’s triple net gaming REIT investments in VICI Properties Inc. (NYSE:VICI) and Gaming and Leisure Properties, Inc. The companies primarily own quality casino and gaming real estate properties. They have attractive dividend yields in the 5% to 6% range that are well covered, accretive acquisition growth opportunities, and are, in our opinion, attractively valued.

We remain mindful of the rising interest rate environment and the possibility that higher debt costs and lower equity prices could negatively impact the ability for net lease REITs to invest in an accretive fashion.”