Vici Properties Inc. A Leading Gaming and Leisure REIT

Vici Properties Inc. is a leading gaming and leisure REIT that owns a diverse portfolio of properties across the United States.

They have a strong presence in the gaming industry, with a focus on high-end casinos and resorts.

Their portfolio includes iconic properties like the MGM Grand Detroit and the Hard Rock Hotel & Casino in Las Vegas.

Vici Properties Inc. has a proven track record of delivering value to its shareholders through strategic acquisitions and property management.

VICI Properties Inc. was founded in 2016. The company is an S&P 500 experiential real estate investment trust.

They own one of the largest portfolios of market-leading gaming, hospitality, and entertainment destinations, including Caesars Palace Las Vegas, MGM Grand, and the Venetian Resort Las Vegas. These are three of the most iconic entertainment facilities on the Las Vegas Strip.

As of now, VICI Properties owns 93 experiential assets across a geographically diverse portfolio. This portfolio consists of 54 gaming properties and 39 other experiential properties across the United States and Canada.

The company's CEO is Ed Pitoniak, and you can find more information about VICI Properties on their website, www.viciproperties.com.

Broaden your view: Entertainment Properties Trust

Vici Properties has seen significant revenue growth, with a 35.81% increase in 2023 to $3.61 billion compared to the previous year's $2.66 billion.

The company's earnings have also skyrocketed, with a 124.90% increase in 2023 to $2.51 billion.

Here are some key financial metrics for Vici Properties:

This impressive growth is a testament to Vici Properties' strong financial health and ability to adapt to changing market conditions.

Vici Properties offers a near-6% yield, making it an attractive option for income investors.

The company's high-margin triple-net lease model provides a stable source of revenue, which is further enhanced by CPI-linked rent escalators that boost its resilience to inflation.

Vici exceeded analysts' expectations for revenue in Q3, showing its ability to perform well even in challenging market conditions.

Its BBB- credit rating suggests that Vici is a relatively low-risk investment, which is a major advantage for investors.

Loading up on Vici stock before the Fed cuts interest rates again could be a smart move, as it's likely to drive even more investors back to REITs like Vici.

Vici Properties is a solid investment, but its stock performance has been a bit of a rollercoaster ride.

Vici Properties is trading at 57.6% below its estimated fair value, which is a significant discount. The current share price is $29.79, which is a decent price point considering the company's strong portfolio of gaming, hospitality, and entertainment destinations.

The 52-week high for Vici Properties was $34.29, while the 52-week low was $27.08. This gives you an idea of the stock's volatility over the past year. The beta of 0.97 indicates that the stock's price movement is closely tied to the overall market.

Here's a summary of Vici Properties' stock performance over the past few years:

Overall, Vici Properties has shown a relatively stable performance over the past few years, with a steady increase in value.

Let's take a closer look at VICI's valuation metrics. VICI's Price/Earnings (Normalized) ratio is 12.67, which is lower compared to its peers MTN (23.23) and TWC (14.23).

The Price/Book Value ratio for VICI is 1.29, indicating a relatively low valuation. In contrast, MTN has a significantly higher ratio of 13.40.

When comparing VICI to its peers, we can see that its Price/Sales ratio is 8.84, lower than MTN's 2.08 and TWC's 1.61. This suggests that VICI's stock price is relatively affordable compared to its sales.

Here's a summary of the valuation metrics for VICI and its peers:

VICI's stock price looks cheap at 15 times last year's Adjusted Funds from Operations (AFFO) per share and 17 times its adjusted EBITDA.

Vici Properties' current share price is $29.79, which is a significant drop from its 52-week high of $34.29. This is a 13.1% decrease from its high.

The company's beta is 0.97, indicating that its stock price is less volatile than the overall market. Its 1-month change is a 1.12% increase, while its 3-month change is a -7.02% decrease.

Discover more: Regions Financial Corporation Stock Price

Here's a breakdown of Vici Properties' price history and performance over the past year:

The company's stock price has been relatively stable, with a 3.1% average weekly movement. This is lower than the industry average of 3.6% and the market average of 6.4%.

Gaming & Leisure Properties is a solid choice for investors looking to "buy the dip". VICI Properties' peer, Gaming And Leisure Properties, is also a notable player in the gaming property sector.

This sector offers unique value drivers, such as mission-critical properties, immunity to secular threats, focus on triple net leases, and outstanding negotiation power. These factors contribute to the sector's stability and growth potential.

Gaming & Leisure Properties has a strong track record, with its stock rising nearly 30% over the past five years. This is impressive, considering the overall market fluctuations during the same period.

Investors might be hesitant to buy Gaming & Leisure Properties due to its trading near its all-time high. However, its compelling value proposition and potential for long-term growth make it a worthwhile investment opportunity.

You might like: Can I Use Heloc for down Payment on Investment Property

Vici Properties has a strong track record of stable dividend growth, raising its dividend every year since its public debut six years ago.

This consistent dividend growth is a testament to the company's commitment to returning value to its investors.

One of the key reasons Vici's dividend growth is so attractive is that it's committed to returning at least 75% of its AFFO to its investors as dividends.

That's a significant portion of its earnings going straight back to shareholders, which can be a major draw for income investors.

Consider reading: Bill Ackman General Growth Properties

The REIT - Diversified industry is a competitive space, with various companies vying for market share. W.P. Carey Inc, for example, has a market cap of $14.1 billion.

Stockland Corp Ltd and Covivio SA ADR also have significant market presence, with market caps of $7.6 billion and $6.1 billion respectively. GPT Group and Land Securities Group PLC ADR have market caps of $5.5 billion and $5.3 billion.

Expand your knowledge: Kimco Realty Stock Market Quote

These companies have different capital allocation strategies, with some focusing on silver (Slv), others on mobility (Mbn), and yet others on not quantifiable (Ntqzj) and journey (Jfkz) factors. Empire State Realty Trust Inc Class A, on the other hand, has a Morningstar Rating for Stocks of Jtnkkqrj.

Here is a list of some of the companies mentioned in the article section:

Vici Properties has a strong presence in the US, with a portfolio of over 200 properties across 20 states.

The company's focus on providing a platform for companies to monetize their real estate assets has helped it grow significantly over the years.

Vici Properties has partnered with several major companies, including AMC Theatres and Regal Cinemas, to provide financing solutions for their real estate needs.

As of 2022, Vici Properties has a total market capitalization of over $2 billion, indicating a significant level of investor confidence in the company.

Intriguing read: Alexandria Real Estate Equities

Vici Properties is a unique player in the real estate market. They specialize in acquiring and owning a portfolio of properties that are leased to media and entertainment companies, such as movie studios and sports teams.

Their focus on high-quality, long-term leases with top-tier tenants provides a stable source of revenue. This approach has allowed them to maintain a strong financial position and deliver consistent results to their investors.

Vici Properties has a strong track record of success, with a history of successful acquisitions and a proven ability to manage and grow their portfolio. They have a deep understanding of the media and entertainment industry and are well-positioned to capitalize on future growth opportunities.

Their expertise in navigating complex real estate transactions and their ability to structure deals that meet the needs of all parties involved have earned them a reputation as a trusted and reliable partner. This reputation has helped them build strong relationships with their tenants and investors.

Explore further: Real Estate Equity Investor

VICI Properties is a textbook example of a "wide moat" REIT, which means it has significant advantages that protect its market share and profitability.

The company operates in the net lease REIT sector, which is growing rapidly. This growth is largely driven by sub-categories like health & fitness, casinos, data centers, and amusement parks, which show strong potential.

VICI Properties has a leading position in these sub-categories, thanks to its extensive portfolio of high-quality properties.

The company's focus on long-term leases with high-quality tenants provides a stable source of income and reduces the risk of vacancy or rent reduction.

This approach also enables VICI Properties to maintain its competitive edge and protect its market share.

For more insights, see: Metalloids Share

As a savvy investor, it's essential to know when to buy and sell Vici Properties. Vici Properties is a REIT that focuses on acquiring and leasing properties to top-tier venues, including sports teams and entertainment companies.

One key thing to consider is that Vici Properties has a strong track record of acquiring properties with high occupancy rates, such as the Madison Square Garden in New York City. This is a significant advantage for investors, as it provides a stable source of income.

Investors should also be aware that Vici Properties has a history of selling properties for significant profits, such as the sale of the Staples Center in Los Angeles for $1.3 billion. This demonstrates the company's ability to generate returns for shareholders.

Buying and selling Vici Properties requires a deep understanding of the company's business model and market trends. By doing your research and staying informed, you can make informed decisions and maximize your returns.

A fresh viewpoint: Selling Gift Property

Vici Properties has maintained a perfect occupancy rate of 100% since its IPO in 2018, even through challenging times like the COVID-19 pandemic.

Its tenants, including big names like Caesar's Entertainment and MGM Resorts, are locked into multi-decade leases that are mostly linked to the Consumer Price Index (CPI). This means Vici's rental income keeps pace with inflation, providing a stable source of income.

For your interest: Realty Income Corp Dividend Yield

Vici's triple net lease REIT structure also means its tenants cover all property expenses, including real estate taxes, insurance, and maintenance fees, which reduces Vici's financial burden.

Here's a quick look at Vici's growth metrics:

Vici expects its AFFO per share to rise 5% to $2.25-$2.26 for the full year, making its stock look like a bargain at 13 times the midpoint of that estimate.

Vici's upside potential might be limited by elevated interest rates and unpredictable macro headwinds over the next three years.

High interest rates will make it more expensive for Vici to buy new properties, and they'll make safer fixed-income investments more appealing than riskier dividend-paying stocks.

Vici's business model has been well-insulated from the macro headwinds over the past few years, with its AFFO per share growing at a stable CAGR of 9.4% from 2020 to 2023.

Assuming Vici can grow its AFFO per share at a CAGR of 9% from 2023 to 2027, its stock could rise 34% from its current price to about $39 by the final year.

For another approach, see: Insurable Interest in Property

Vici Properties has seen significant growth over the past few years. Its top tenants include big names like Caesar's Entertainment and MGM Resorts, which are locked into multi-decade leases.

These leases are linked to the Consumer Price Index (CPI), ensuring that Vici's rental income keeps pace with inflation. This stability is a key factor in the company's success.

Vici's occupancy rate has remained a perfect 100% since its IPO in 2018. This is impressive, especially considering the challenges faced by the gaming and hospitality industries during the COVID-19 pandemic.

Here are some key metrics that highlight Vici's growth:

Vici's adjusted funds from operations (AFFO) per share has consistently grown, even as it acquired more properties.