Millennials and Gen Z are reshaping the retail landscape, favoring experiences over material possessions. This shift is fueling a surge in real estate investment trusts (REITs) targeting experiential destinations. Let’s explore two that you could buy today.

VICI Properties

VICI Properties (NYSE:VICI) owns and manages a portfolio of 93 experiential assets across the U.S. and Canada, including golf courses, bowling alleys, racetracks, casinos, and hotels, many of which also contain restaurants, bars, nightclubs, and sportsbooks. Some of its most popular properties include the MGM Grand, the Venetian Resort, and Caesars Palace.

VICI currently pays a quarterly dividend of $0.415 per share, equating to an annualized dividend of $1.66 per share and giving its stock a yield of about 5.7% today.

VICI is also an up-and-coming dividend-growth star. It has raised its annual dividend for five consecutive years, and it's already on pace for 2024 to mark the sixth consecutive year with an increase.

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EPR Properties

EPR Properties (NYSE:EPR)  owns and manages a portfolio of 359 entertainment, recreation, education, and leisure properties, including movie theaters, golf ranges, waterparks, amusement parks, fitness centers, private schools, and early childhood education centers.

EPR currently pays a monthly dividend of $0.285 per share, equating to $3.42 per share annually and giving its stock a yield of about 8.3% today.

EPR was a dividend-growth star in the past, but it was forced to suspend its dividend in 2020 as a result of the Covid-19 pandemic. With operations back to normal and the unlikelihood that we ever experience another shutdown like we did during the pandemic, investors can consider EPR a reliable source of monthly income once again.

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