Core Viewpoint - VICI Properties Inc. has been downgraded by Scotiabank due to uncertainties surrounding its lease with Caesars Entertainment, which may limit external growth opportunities and affect stock momentum [2]. Company Overview - VICI Properties is a relatively young Real Estate Investment Trust (REIT), established in 2017 as a spinoff from Caesars during its Chapter 11 restructuring. The company has rapidly expanded its portfolio through sale-leaseback deals and mergers, now including various casino properties and experiential investments like bowling and entertainment venues [3]. Financial Stability - The company operates under triple-net lease agreements, with approximately 50% of its rent linked to inflation, ensuring stable cash flow and built-in rent growth over time [4]. - VICI maintains a solid financial position with a dividend payout ratio of around 75% and a leverage ratio of approximately 5.0x, allowing for continued investment in acquisitions and property upgrades [5]. - VICI has consistently increased its dividend annually since going public, marking its eighth consecutive annual increase in late 2025 [6].

Core Insights - Northeast Indiana Bancorp, Inc. reported a significant increase in net income for the fourth quarter of 2025, reaching $1,774,000 ($0.75 per diluted common share), compared to $972,000 ($0.41 per diluted common share) in the same quarter of 2024, reflecting strong financial performance [1][3] Financial Performance - Net interest income rose by $838,000 in Q4 2025 compared to Q4 2024 [2] - Provision for credit loss expense decreased by $574,000 in Q4 2025 compared to the same period in 2024 [2] - Total non-interest income was $611,000 in Q4 2025, down from $660,000 in Q4 2024 [2] - Total non-interest expense increased to $3,333,000 in Q4 2025 from $3,126,000 in Q4 2024 [2] Yearly Overview - For the year ended December 31, 2025, net income was $6.3 million ($2.64 per diluted common share), up from $4.3 million ($1.80 per diluted common share) in 2024 [3] - Annualized return on average assets (ROA) for 2025 was 1.14%, compared to 0.84% in 2024 [3] - Annualized return on average equity (ROE) for 2025 was 12.32%, up from 9.13% in 2024 [3] Asset and Equity Growth - Total assets increased by $37 million, or 7%, to $559.3 million as of December 31, 2025, compared to $522.3 million in 2024 [4] - Total net loans rose by $34.7 million, or 8.9%, to $425.3 million at the end of 2025 [4] - Total deposits increased by $26.9 million, or 6.3%, to $455.8 million as of December 31, 2025 [4] - Shareholders' equity grew by $6.6 million to $54.9 million at the end of 2025 [5] Dividend Performance - Northeast Indiana Bancorp, Inc. maintained its status on the Dividend Champions List, having increased dividends for 31 consecutive years [6] Management Commentary - The President and CEO expressed satisfaction with the financial performance in 2025 and optimism for future growth, emphasizing the company's commitment to serving customers and communities [7]

Group 1 - Tech giants are known for low dividend payouts, with Nvidia paying $0.01 per share (0.02% yield), Meta at 0.32%, Alphabet at $0.26, while Tesla and Amazon pay nothing [1][2] - Despite low dividends, these companies may still provide significant shareholder value through share repurchase programs, which are often more tax-efficient [2] - Historical data shows that 85% of stock market wealth since 1960 has come from reinvested dividends and compounding, highlighting the importance of dividend-growers for long-term investors [3] Group 2 - The "Magnificent Seven" companies have significantly contributed to the stock market rally, driven by excitement around the $15.7 trillion AI revolution [4] - For investors looking for reliable income and exposure to disruptive technologies, Apple and Microsoft are the primary candidates, with Microsoft showing superior performance [5] - Microsoft is predicted to become the first Dividend Champion among the Magnificent Seven, having increased its dividend by 600% since 2010 and currently paying $6.6 billion in dividends quarterly [6][7] Group 3 - Microsoft has the longest streak of dividend increases among the Magnificent Seven, with a notable 23% increase in its dividend after a previous pause [7][8] - Both Microsoft and Apple have faced challenges in dividend payouts this century, but Microsoft has resumed its dividend growth more aggressively [8]

Core Viewpoint - The article highlights three companies known as "Dividend Champions," which have a long history of increasing dividends, making them attractive for income investors as interest rates are expected to decline in the future [3]. Group 1: Royal Gold - Royal Gold, based in Denver, Colorado, has a dividend yield of 0.77% and has raised its dividend every year since July 2000, with a total increase of 58.3% since 2021, outpacing the 19% inflation during the same period [4][5][6]. - The company has maintained its dividend growth even during periods of declining gold prices, such as from 2012 to 2020, when its dividend increased by 87% despite gold prices falling [6][8]. - Royal Gold's business model involves acquiring royalty interests in various metals, allowing it to sustain dividend increases regardless of gold price fluctuations [7][8]. Group 2: York Water - York Water, a Pennsylvania-based water utility, has announced its 29th annual dividend hike, maintaining a record of 620 consecutive payouts since 1816, which is believed to be a record for American companies [9][10]. - The company's recent dividend increase of 4% in 2025 is above the 2.7% inflation rate, and since 2021, it has raised its dividend by 22%, demonstrating its ability to keep pace with inflation [10]. - With a payout ratio of just 63%, York Water's dividend appears sustainable, as its earnings are growing faster than its payouts [12]. Group 3: Caterpillar - Caterpillar, a leading manufacturer of construction and mining equipment, has increased its dividend for 31 consecutive years, including a 7% increase announced last June [13][14]. - The company's dividend has grown by 46.6% since 2021, significantly outpacing inflation, and its long-term track record shows that payouts have tripled over the last 25 years [14][16]. - Caterpillar's resilience is evident as it continued to increase dividends during economic downturns, such as the Financial Crisis and the pandemic, showcasing management's commitment to rewarding shareholders [16][17].

Group 1 - The focus is on income-producing asset classes such as REITs, ETFs, Preferreds, and 'Dividend Champions' that target premium dividend yields up to 10% [1][2] - The iREIT®+HOYA Capital service aims to provide sustainable portfolio income, diversification, and inflation hedging for investors [2] - The investment research covers various asset classes including REITs, ETFs, closed-end funds, preferreds, and dividend champions, helping investors achieve dependable monthly income [2]

Group 1 - The focus is on income-producing asset classes such as REITs, ETFs, Preferreds, and 'Dividend Champions' that target premium dividend yields up to 10% [1][2] - The iREIT®+HOYA Capital service aims to provide sustainable portfolio income, diversification, and inflation hedging for investors [2] - The investment research covers various asset classes including REITs, ETFs, closed-end funds, preferreds, and dividend champions, helping investors achieve dependable monthly income [2]

Group 1 - The focus is on income-producing asset classes such as REITs, ETFs, Preferreds, and 'Dividend Champions' that target premium dividend yields up to 10% [1][3] - iREIT®+HOYA Capital is highlighted as a premier income-focused investing service that offers sustainable portfolio income, diversification, and inflation hedging [2][3] - The service provides investment research on various asset classes including REITs, ETFs, closed-end funds, preferreds, and dividend champions [3]

Core Insights - The focus is on income-producing asset classes such as REITs, ETFs, Preferreds, and Dividend Champions, targeting premium dividend yields up to 10% [1][3] - The iREIT®+HOYA Capital service is designed for income-focused investing, emphasizing sustainable portfolio income, diversification, and inflation hedging [2][3] Investment Strategy - The investment group provides research on various asset classes including REITs, ETFs, closed-end funds, preferreds, and dividend champions [3] - The service aims to help investors achieve dependable monthly income and portfolio diversification [3] Market Outlook - Concerns are raised regarding the potential impact on Morgan Stanley PFD A 1/1000 (MS.PR.A) if the FOMC shifts from raising to cutting the Federal Funds Rate (FFR) in 2024 [3]

Core Insights - The focus is on income-producing asset classes such as REITs, ETFs, Preferreds, and Dividend Champions, targeting premium dividend yields up to 10% [1][3] - iREIT®+HOYA Capital is highlighted as a premier income-focused investing service, emphasizing sustainable portfolio income, diversification, and inflation hedging [2][3] Group 1 - Truist Financial Corporation (TFC) was formed from the merger of SunTrust and BB&T banks in late 2019, raising questions about the choice of the name [3] - The investment group iREIT®+HOYA Capital aims to assist investors in achieving dependable monthly income and portfolio diversification [3] - The group provides research on various investment vehicles including REITs, ETFs, closed-end funds, preferreds, and dividend champions [3] Group 2 - The service offers a free two-week trial for potential investors to explore top ideas within exclusive income-focused portfolios [2] - The investment strategies shared by the group include trading options with a focus on cash-secured puts, catering to long-only investors [3]

Core Insights - The focus is on income-producing asset classes such as REITs, ETFs, Preferreds, and Dividend Champions, targeting premium dividend yields up to 10% [1][3]. Group 1: Investment Strategy - The investment strategy emphasizes sustainable portfolio income, diversification, and inflation hedging through income-focused portfolios [2][3]. - The service offers a free two-week trial to explore top ideas within exclusive income-focused portfolios [2]. Group 2: Company Background - Citizens Bank is part of Citizens Financial Group, Inc. (CFG), and has been recognized through its association with local sports, enhancing its visibility [3]. - The Retired Investor, with a background in data analysis and pension fund management, contributes to the investment group iREIT®+HOYA Capital, focusing on strategies for generating dependable monthly income [3].