This specialty real estate investment trust owns some of the most recognizable entertainment and hospitality properties in the country, leasing them out under long-term contracts that hand maintenance, taxes, and insurance costs to its tenants. That structure produces a forward dividend yield of 6.72%, a figure that ranks in the top 40% of all dividend-paying stocks and comfortably exceeds its sector average of 5.4%. Occupancy across its portfolio has held at 100%, a rare feat that speaks to the durability of its tenant relationships and the specialized nature of the real estate it controls.
The business has been expanding well beyond its original footprint, deploying billions of dollars into new lending and acquisition opportunities tied to luxury development, regional casinos, and international markets. That growth has not come at the expense of financial discipline, since debt levels remain manageable and free cash flow generation continues to fund new investments without heavy reliance on issuing new shares.
Like any landlord concentrated in leisure and entertainment properties, the company carries exposure to shifts in travel demand and tourism spending, along with some complexity tied to a handful of specialized lease structures. Those risks are balanced by a diversified and growing roster of tenants across gaming, wellness, and recreation.
This stock has just seen its position increased within our Best High Dividend Stocks Portfolio. The move reflects continued confidence in a business that pairs an above-average yield with steady cash flow growth and a conservative approach to leverage. Adding to this holding reinforces our portfolio’s mandate of pursuing high income without sacrificing quality or predictability.
