These 2 REITs Are All In On the Boomer Retirement Trend
Millions of baby boomers were faced with a choice when the pandemic began: learn an entirely new way of working (from home) or pull the pin and retire earlier than they may have planned. Just over half of Americans age 55 or older are out of the workforce due to retirement, and over the past two years, the growth rate of new baby boomer retirees is over three time higher than it was before the pandemic .
It's possible that some of these people will have to go back to work as inflation grows and the stock market downturn takes a bite out of their retirement savings, but many of them will stay retired. The two REITs (real estate investment trusts) we're going to talk about today, VICI Properties (NYSE: VICI) and CareTrust REIT (NYSE: CTRE), are capitalizing on the boomer retirement boom. Let's discuss how.
VICI owns and leases entertainment and casino properties. It owns 43 casino properties, including 13 in Las Vegas, and has properties in 14 other states. Las Vegas properties make up 45% of its rent roll. It owns 39,700 hotel rooms and 5.9 million square feet of space on the Las Vegas Strip alone.
Source Fool.com
