VICI Properties: Always Dull At VICI-Land, And That's Good

Summary

• VICI offers a high-quality, resilient real estate portfolio focused on iconic experiential assets, promising stability over aggressive growth.
• The company delivers steady, mid-single-digit AFFO per share growth, with minimal risk of vacancy or rent delays, making it ideal for low-risk income seekers.
• Valuation is reasonable, especially if interest rates decline, potentially boosting VICI's premium; current returns are projected at 5%-8% annually.
• Given its reliable income and potential for re-rating in a lower-rate environment, I reiterate my Buy rating for VICI for relevant portfolios.

RandyAndy101

It's been over three years since VICI Properties (NYSE:VICI) completed two of the most significant deals in its history, acquiring MGM Growth Properties and The Venetian.

In that same 2022 year, VICI received investment grade ratings from two major

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.