VICI - VICI Properties: On Top Of The 6% Yield I See A Big 'Bonus' Coming

2024-06-04 01:57:30 ET

Summary

• VICI Properties is a REIT that owns prime properties in Las Vegas and other areas, with high-profile assets totaling 127 million square feet.
• The recent pullback in VICI Properties' stock presents a buying opportunity, as it is just below its moving averages.
• The company's earnings estimates and balance sheet indicate undervaluation, and it has a strong dividend growth rate compared to peers.

VICI Properties ( VICI ) is a REIT that has focused on prime property ownership in Las Vegas, but it also owns real estate in other areas including Chelsea Piers in New York. Its focus on gaming and hospitality has led it to acquire Harrah's Las Vegas, Caesars Palace Las Vegas, MGM Grand, The Venetian Resort Las Vegas, as well as many other high profile assets totaling 127 million square feet. With many top hospitality companies leasing these properties from VICI Properties, the rent payments are just about as sure as can be and very long term as well. This makes it an ideal stock for income investors and a recent pullback in the stock makes it even more attractive. Let's take a closer look:

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