2024-07-12 17:14:48 ET
Summary
- VICI Properties Inc. stock has underperformed the market by a wide margin, creating an investment opportunity.
- VICI Properties is the largest net lease REIT focused on casino properties.
- The stock yields 6% and, based on my estimates, offers a 9.5% forward return potential.
- I am upgrading VICI Properties stock to buy.
Just as one bubble may be in full swing, another may have ended. I was skeptical about the stock of VICI Properties Inc. ( VICI ) just over a year ago due to valuation and lower appeal relative to tech stocks, but after sizable underperformance, the value proposition has improved dramatically....
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VICI Properties: The Casino REIT Bubble Has Burst, It's Time To Buy (Upgrade)