Real estate investment trusts (REITs) are known for paying above-average dividends, but only a small percentage of equity (property-owning) REITs have stable yields above 5% and long-term growth potential. Here are three, in particular, that could belong on the radar of income-seeking investors, as well as those who want long-term capital appreciation without taking on too much risk.
A casino REIT that could become much more
MGM Growth Properties (NYSE: MGP) is a REIT that owns a portfolio of casino properties. And not just any casino properties — it owns some of the highest-quality properties in the United States, most of which are operated by MGM Resorts (NYSE: MGM). Just to name a few, MGM Growth Properties owns iconic Las Vegas properties including Mandalay Bay and The Mirage, as well as the MGM National Harbor in the Washington, D.C. area and The Borgata in Atlantic City, plus about a dozen others.
The key point to know is that…