2024-05-03 10:30:15 ET
Summary
- VICI Properties announced first-quarter results in line with expectations.
- The owner of several icon assets across the Vegas Strip continues business as usual, with 100% rent collection and a strong balance sheet.
- While VICI Properties' growth prospects aren't enough to beat the market, it does provide a stable, resilient, and growing income stream.
- I see VICI stock as a Buy ahead of a more favorable macro backdrop.
VICI Properties Inc. ( VICI ), owner of the largest Las Vegas real estate portfolio, announced first-quarter results that came in line with expectations, as adjusted funds from operations, or AFFO, per share grew 6.1% to $0.56, reflecting business continues as usual.
Amid ongoing pressures from the high 10-year yield (US10Y), investors in VICI should make sure they understand what they're investing in, both for the good and the bad....
Read the full article on Seeking Alpha
For further details see:
VICI Properties: In-Line Results, Investors Should Understand What They're In For