With a market cap of $34.2 billion, VICI Properties Inc. (VICI) is a real estate investment trust (REIT). Based in New York, the company owns one of the largest portfolios of market-leading gaming, hospitality, and entertainment destinations, including Caesars Palace Las Vegas, MGM Grand, and the Venetian Resort Las Vegas.
Companies valued at $10 billion or more are generally described as “large-cap stocks,” and VICI Properties definitely fits that description. The REIT owns 93 experiential assets across a geographically diverse portfolio consisting of 54 gaming properties and 39 other experiential properties across the United States and Canada.
However, the company dropped 5.6% from its 52-week high of $34.29. In addition, shares of VICI Properties surged 14.5% in the past three months, surpassing the broader Nasdaq Composite ($NASX), which dipped nearly 8.4% over the same period.
In the long term, VICI is up 10.9% on a YTD basis, outpacing NASX's 8.1% decrease. Moreover, shares of VICI have risen 11.8% over the past 52 weeks, whereas NASX’s nearly improved 9.8% over the same time period.
Since mid-February, the stock has been trading above its 50-day and 200-day moving averages.
Shares of VICI rose 1.7% following its Q4 2024 results on Feb. 20 as investors reacted positively to the company’s strong revenue of $976.1 million, which surpassed the consensus estimate, driven by solid leasing activity and new financing engagements. Despite the earnings miss, the 3.6% year-over-year growth in AFFO per share to $0.57 reassured investors about the REIT’s stable cash flow. Additionally, VICI announced a new $300 million strategic investment in the high-profile One Beverly Hills project, expanding its presence in the luxury experiential sector.
However, in comparison with its rival, W. P. Carey Inc. (WPC) has outperformed VICI, gaining 13.1% on a YTD basis. But WPC has gained 9.4% over the past 52 weeks, lagging behind VICI Properties.
Due to outperformance relative to the Nasdaq, analysts remain bullish about its prospects. Among the 22 analysts covering the stock, there is a consensus rating of “Strong Buy,” and it is currently trading below the mean price target of $35.76.
On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
