This Winning Wager Will Boost the Fortunes of These High-Yield Stocks
Private equity behemoth Blackstone (NYSE: BX) has agreed to sell its interests in two casino properties to VICI Properties (NYSE: VICI), a real estate investment trust (REIT) focused on experiential properties. The transaction will boost VICI's cash flow, supporting its ability to sustain and expand its 4.6%-yielding dividend.
Meanwhile, it will provide Blackstone's non-traded REIT, BREIT, with a cash infusion that it can use to continue expanding in its highest growth areas. That growth should eventually flow down to Blackstone to help support its 5.9%-yielding payout.
The deal could make both stocks more appealing long-term investments for income-seeking investors.
Source Fool.com
