Trade Tracker: Jenny Harrington sells Organon and buys Vici Properties

Portfolio Adjustment - The company sold Organon after it cut its dividend and the stock price declined [1][2] - The company bought VICI Properties, a triple net lease REIT specializing in gaming and casino properties [1][3][4] VICI Properties Investment Rationale - VICI Properties owns 93 properties, including 54 casinos such as the Venetian and Mandalay Bay, and 39 experiential properties [4] - VICI Properties has a strong management team [4] - VICI Properties offers a 53% dividend yield and an expected 3% FFO growth [5] - VICI Properties' rent escalators are tied to CPI, potentially benefiting from rising inflation [5] - VICI Properties' tenants (e g MGN and Caesars) ensure 100% occupancy and rent collection, even during the pandemic [6] - The investment in VICI Properties is expected to generate a 9-10% annualized return [7] - VICI Properties is considered a compelling investment in a lower growth environment [8]