With the month & year nearly over, I need to get current with posting about my Portfolio transactions. I made a single move over 2 weeks ago, but with holiday preparations and enjoyment taking priority, posting took a back seat.
However, I’m here to rectify the situation. My single transaction was a small buy, adding to my smallest Portfolio position.
I had a tiny amount of cash sitting in my account and I used all but a penny of it to bolster my holding. Sadly, this holding remained the smallest in my Portfolio, but at least it got a tad larger, and brought in a little additional forward dividend income.
It was the first time in nearly 2 years that I’ve added to this position with new capital investment. This time around I bought at a better price as well.
Delay no longer… Let’s see the details for my most recent Portfolio purchase.
VICI Properties (VICI)
The company has been under some pressure lately as news of reduced foot traffic in U.S. casinos (especially Las Vegas) makes the rounds. However, it seems that regional properties may be having a tougher time than its properties on the Las Vegas Strip.
Another headwind comes from the gradual increase in online gambling. This could end up materially affecting the regional properties, as fewer gamblers make their way to local casinos.
VICI’s properties on the Las Vegas Strip generate roughly half of the REIT’s rent, and this remains the stronger part of VICI’s portfolio.
In any case, investors appear to be discounting a future with slower growth, one that will make it harder to sustain existing rent levels over time.
Even with a tempered growth outlook and a period of slower dividend growth (like it’s had over the past two years), VICI maintains a reasonable payout ratio of around 75%. Thus, the company should have room to handle potentially lower future rents without impacting the dividend.
VICI’s dividend yield is at its highest in the past 5 years, while its P/E Ratio is at its lowest level over that time frame. The stock price is hovering around its 52-week low as well.
With VICI being depressed in price these days, and it being the smallest position in my Portfolio, this felt like a decent time to add some shares. Unfortunately, I only had a little more than $56 in investment cash to use in a purchase. However, it was enough for a couple of shares.
On 12/11/25, I bought 2 shares of VICI at $28.045/share, for a total of $56.09. The stock yielded 6.42% at my purchase price, which is nearly 2.5x my current Portfolio yield of 2.62%.
The purchase only boosted my share total by a little more than 1.3%, and my VICI position now stands at 151.753 shares. My forward dividend income rose by a minor $3.60.
As a result of the purchase, my VICI cost basis declined by a mere $0.02/share, to $29.79/share.
As noted earlier, after the buy VICI remained my smallest position (out of 58 holdings). It’s still more than $450 smaller than my 2nd smallest position, Eastman Chemical (EMN). VICI remains my only holding that doesn’t have a Portfolio weighting of at least 0.5%.
If nothing material changes in VICI’s business, but its price continues to drop, adding more shares is a possibility for me.
Summary
My lone transaction thus far in December has been a tiny purchase of VICI. I took what little cash I had in my brokerage account and bought 2 shares of the stock.
The investment was only a bit more than $56, but it did bring my VICI share total over 151 shares. The investment only added $3.60 to my forward dividend income though.
My cost basis fell by a scant $0.02/share to become $29.79/share.
With VICI already being an existing holding in my Portfolio, the number of stocks/funds in my Portfolio held steady at 58.
What do you think of VICI at its current price level? Is VICI a holding in your portfolio? I look forward to your comments!