VICI - VICI Properties: Still Dirt Cheap For What It's Worth
2024-06-04 08:30:00 ET
Summary
- VICI Properties stock has underperformed over the past year.
- Investors could be worried about potentially slowing growth amid higher execution risks.
- VICI invested $700 million in The Venetian, which management believes could be its best acquisition to date.
- While caution in VICI is justified, the market seems to have turned too pessimistic.
- With VICI still attractively valued, income investors shouldn't miss this buying opportunity.
VICI Properties Stock Underperformed
VICI Properties ( VICI ) investors have seen their investment perform poorly over the past year. VICI's stock delivered a 1Y total return of -2.6%, underperforming the S&P 500 ( SP500 ). Since April 2023, VICI has also underperformed its real estate peers ( XLRE ) ( VNQ ) as the real estate sector recovered from its well-battered late 2023 lows....
VICI Properties: Still Dirt Cheap For What It's Worth