Gun owners are very familiar with this top company that pays a stellar dividend. Sturm, Ruger & Co. Inc. (NYSE: RGR) engages in the design, manufacture and sale of firearms to domestic customers.
The Firearms segment manufactures and sells rifles, pistols and revolvers principally to a number of federally licensed, independent wholesale distributors primarily located in the United States. The Castings segment manufactures and sells steel investment castings and metal injection molding parts. The company was founded by William B. Ruger in 1949 and is headquartered in Southport, Connecticut.
While the dividend can vary because the payout is based on earnings, given the company’s strong upside, it is worth taking despite some slowing demand.
Investors currently receive a 4.94% dividend. Lake Street Capital has set a huge $98 price target. The consensus target on Sturm Ruger stock is $84.00, and Monday’s closing print was $68.36 a share.
This is the top pick across Wall Street in the net lease group, and it is an ideal stock for investors who are more conservative and looking for gaming exposure. VICI Properties Inc. (NYSE: VICI) is a triple net lease real estate investment trust (REIT) that was spun out of Caesars Entertainment post-bankruptcy.
The company has 23 mixed-use gaming, lodging and entertainment properties in its portfolio, and a subsidiary that owns four championship golf courses. VICI also owns roughly 34 acres of undeveloped land in Las Vegas, which it leases to Caesars.
Much of the focus this year was on VICI’s recent deal to acquire the real estate of the Venetian Resort in Las Vegas, with Apollo as a new tenant. Looking ahead, many on Wall Street are very positive on VICI’s embedded growth pipeline with Caesars Entertainment, including a put/call on the Centaur properties in Indiana (starting this month) and a right of first refusal on a strip asset sale for Caesars, which could occur soon after a full earnings before interest, taxes, depreciation, amortization and restructuring or rent costs recovery.
Investors receive a 5.04% distribution. The BofA Securities price target for VICI Properties stock is $36. The consensus target is $34.89, and the shares closed on Monday at $28.71 apiece.
In a significant market correction, all stocks may trend lower, but these dividend-paying sin stocks will continue to see strong product demand and should hold up much better than momentum technology stocks, especially those that are not making money. Given the current negative backdrop to the market, investors may want to buy partial positions now and see how things play out over the next few weeks.
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