Core Viewpoint - VICI Properties has demonstrated resilience amidst a downturn in tech stocks, potentially benefiting from its tariff-resistant nature and lease escalators that may gain from inflation [1] Company Analysis - VICI Properties is perceived as a strong investment due to its ability to withstand market fluctuations and capitalize on inflationary pressures [1] - The company is characterized by a robust balance sheet and effective management, which are critical for long-term growth [1] Investment Strategy - The investment approach focuses on identifying undervalued companies with secular growth potential, emphasizing the importance of strong financial health and management in sectors with extended growth opportunities [1]

Core Insights - The S&P 500 is nearing correction territory, while the Nasdaq 100 has already entered it, suggesting a challenging market environment for investors [1] - VICI Properties Inc. is highlighted as a potential investment opportunity, particularly due to its status as the primary owner of real estate along the Las Vegas strip [1] - The investment strategy focuses on acquiring companies with strong qualitative attributes at attractive prices based on fundamentals, with a long-term holding approach [1] Company Analysis - VICI Properties Inc. is positioned as a key player in the real estate market, specifically in the Las Vegas area, which may provide stability and growth potential amid market volatility [1] - The company is part of a concentrated portfolio strategy aimed at minimizing losses while maximizing exposure to high-performing investments [1] Investment Strategy - The investment philosophy emphasizes the importance of evaluating growth opportunities and downside risks, often leading to a 'Hold' rating for companies that do not meet specific growth thresholds [1]

Core Viewpoint - Vici Properties is a leading real estate investment trust (REIT) specializing in gaming real estate, with a strong portfolio and growth potential despite a challenging interest rate environment [1][3]. Group 1: Company Overview - Vici Properties owns 54 gaming properties, including iconic locations on the Las Vegas Strip such as Caesars Palace, MGM Grand, and The Venetian [1]. - The portfolio includes over 60,000 hotel rooms, 4.2 million square feet of gaming space, 6.7 million square feet of meeting space, and more than 1,000 food, beverage, and retail outlets [2]. Group 2: Business Strategy and Growth Potential - Vici has a solid lease quality, with an average lease term of 41 years and 90% of leases protected from inflation [4]. - The company is expanding into non-gaming experiential real estate, having made its first major non-gaming acquisition in 2023 with Bowlero bowling centers [5]. - Vici has the right of first refusal to acquire additional Las Vegas Strip properties and regional assets from Caesars [6]. Group 3: Financial Performance and Capital Allocation - Vici has a strong track record of adding value through acquisitions, including its purchase of MGM Growth Properties and The Venetian, which has increased per-share funds from operations [7]. - The company has consistently raised its dividend since its IPO, supported by excellent capital allocation [8]. Group 4: Adaptation to Market Conditions - Despite a high-interest environment, Vici has continued to grow by leveraging elevated interest rates to make financing investments [9]. - The company issued debt at a 4.75% interest rate and has financed new property constructions, such as a Margaritaville resort, at higher yields [10][11]. - Vici's financing deals often include the right to acquire the financed properties, creating a growth pipeline for future opportunities [12]. Group 5: Conclusion - Vici Properties boasts a high-quality asset portfolio, a strong balance sheet, and a management team with a proven record of smart capital allocation, positioning it well for future growth and benefiting from potential falling interest rates [13].

Core Viewpoint - VICI Properties Inc. has demonstrated strong stock performance and growth potential, supported by strategic investments and a solid dividend history, making it an attractive option for dividend-focused investors [1][2][3]. Group 1: Financial Performance - VICI's stock has rallied 9.5% year-to-date, closing at $31.97, outperforming both the Zacks REIT and Equity Trust - Other industry and the S&P 500 [1]. - The company reported continued benefits from expansion efforts and strategic investments in its fourth-quarter and full-year 2024 results [2]. - VICI has increased its dividend five times in the last five years, with a five-year annualized dividend growth rate of 8.05% [3]. Group 2: Dividend and Income Stability - VICI Properties offers a compelling ~5.5% dividend yield, with a commitment to distributing 75% of its adjusted funds from operations (AFFO) to shareholders [7]. - The company has a diverse portfolio of 54 gaming and 39 experiential assets across North America, with a 100% occupancy rate and long-term triple-net leases averaging 40.7 years [9]. - For 2025, VICI expects 42% of its rent roll to have CPI-linked escalation, projected to rise to 90% by 2035, enhancing its revenue stability [10]. Group 3: Growth and Strategic Positioning - Since its founding in 2017, VICI has grown its adjusted EBITDA by 350%, diversifying beyond gaming properties to include experiential assets [11]. - The company has $3.3 billion in liquidity as of December 31, 2024, providing financial flexibility to navigate market fluctuations [11]. - VICI's properties are essential to its tenants, who face significant challenges if they relocate, reinforcing reliable rental income [9]. Group 4: Valuation and Market Position - VICI's stock is trading at a forward 12-month price-to-FFO ratio of 13.63X, below the REIT-Other industry average of 15.33X [18]. - The Zacks Consensus Estimate for 2025 adjusted funds from operations (AFFO) per share has seen a positive revision, indicating favorable market sentiment [14]. Group 5: Challenges and Considerations - Despite diversification efforts, gaming properties remain the primary revenue driver, exposing VICI to industry-specific risks [12]. - The company carries a significant debt load of approximately $17.1 billion as of December 31, 2024, which could impact its financial stability [13]. - VICI's performance is sensitive to interest rate movements, which can affect borrowing costs and the attractiveness of its dividend yield [13].

Group 1 - VICI Properties is the largest REIT holding in the portfolio and is expected to maintain this position in the near future [1] - The REIT owns iconic real estate across the United States, indicating a strong asset base [1] - The strategy of dividend investing is highlighted as an effective method for acquiring quality companies at favorable prices while generating cash flow [1] Group 2 - The individual is building a portfolio focused on dividend growth stocks, aiming for future financial independence through dividend income [1] - The article is shared on platforms like Seeking Alpha, Twitter, and YouTube, indicating a broad audience engagement [1] - There is a beneficial long position in VICI shares, suggesting confidence in the company's performance [1]

Core Viewpoint - VICI Properties Inc. is expected to show positive earnings growth in its upcoming report, with a projected EPS increase and revenue growth compared to the previous year [2][3]. Group 1: Stock Performance - VICI Properties Inc. closed at $32.38, reflecting a -0.92% change from the previous day, which is less than the S&P 500's daily gain of 1.08% [1]. - Over the past month, VICI shares have gained 7.64%, outperforming the Finance sector's loss of 4.3% and the S&P 500's loss of 8.26% [1]. Group 2: Earnings Estimates - The upcoming earnings report is anticipated to show an EPS of $0.58, representing a 3.57% increase year-over-year [2]. - The revenue forecast for the same quarter is $985.12 million, indicating a 3.54% growth compared to the prior year [2]. - For the entire year, earnings are projected at $2.33 per share and revenue at $3.99 billion, reflecting changes of +3.1% and +3.53% respectively [3]. Group 3: Analyst Revisions and Rankings - Recent revisions to analyst forecasts for VICI Properties Inc. are being monitored, as they reflect near-term business trends and analysts' positive outlook on the company's operations [4]. - The Zacks Rank system, which includes estimate changes, currently ranks VICI Properties Inc. at 3 (Hold) [6]. Group 4: Valuation Metrics - VICI Properties Inc. has a Forward P/E ratio of 14.04, which is a premium compared to the industry's average Forward P/E of 11.09 [7]. - The company has a PEG ratio of 4.17, significantly higher than the average PEG ratio of 2.28 for the REIT and Equity Trust - Other stocks [8].

Company Performance - VICI Properties Inc. ended the recent trading session at $31.55, showing a -1.68% change from the previous day's closing price, which was less than the S&P 500's daily loss of 0.91% [1] - The company's shares gained 7.72% over the previous month, outperforming the Finance sector's loss of 5.01% and the S&P 500's loss of 7.38% [1] Earnings Projections - The upcoming earnings disclosure for VICI is projected to show earnings per share (EPS) of $0.58, reflecting a 3.57% increase from the same quarter last year, with quarterly revenue expected to be $985.12 million, up 3.54% from the year-ago period [2] - Full-year Zacks Consensus Estimates predict earnings of $2.33 per share and revenue of $3.99 billion, representing year-over-year changes of +3.1% and +3.53%, respectively [3] Analyst Estimates - Recent changes to analyst estimates for VICI indicate a favorable outlook on the company's business health and profitability, with upbeat changes suggesting positive near-term business trends [4] - The Zacks Rank system, which assesses these estimate changes, currently ranks VICI Properties Inc. at 3 (Hold) [6] Valuation Metrics - VICI Properties Inc. is trading with a Forward P/E ratio of 13.79, which is a premium compared to the industry's average Forward P/E of 11.12 [7] - The company has a PEG ratio of 4.1, while the REIT and Equity Trust - Other industry holds an average PEG ratio of 2.25 [7] Industry Context - The REIT and Equity Trust - Other industry is part of the Finance sector and has a Zacks Industry Rank of 133, placing it in the bottom 48% of all 250+ industries [8]

Market Overview - The market is currently experiencing significant uncertainty, with the S&P 500 down 8.6% and the Nasdaq down 13.4% from recent highs [2] - Artificial intelligence stocks, such as Nvidia, have also seen declines, with Nvidia approximately 14% off its year-to-date high [3] Investment Strategies - To protect capital during market downturns, investors are advised to consider stable dividend stocks that offer reliable income and lower volatility compared to high-growth tech stocks [3] Real Estate Investment Trusts (REITs) - REITs are attractive for income-focused investors due to their requirement to distribute 90% of taxable income to shareholders, resulting in higher yields [4] - Vici Properties owns "trophy properties" that are difficult to replace, including major Las Vegas casino resorts and an entertainment complex in New York, which positions it favorably in the market [5] - Vici Properties collected 100% of its rents during the COVID-19 pandemic and has consistently increased its dividend since inception, indicating strong financial health [6][7] Pharmaceutical Sector - AbbVie has transitioned from reliance on its blockbuster drug Humira to a more diversified portfolio following its acquisition of Allergan, which added products like Botox and Juvederm [10] - Despite a decline in Humira sales from over $21 billion in 2022 to $9 billion in 2024 due to competition from biosimilars, AbbVie is expected to see significant growth from new anti-inflammatory drugs, projected to generate $27 billion in sales by 2027 [9][11] - AbbVie has maintained a growing dividend since its spinoff from Abbott Laboratories in 2013, currently paying $1.64 quarterly, providing a forward yield of 3% [11] Conclusion - Vici Properties and AbbVie are highlighted as strong investment options for generating steady, growing dividends regardless of market conditions, making them suitable for long-term holding [12]

Core Insights - VICI Properties Inc. is an experiential REIT that owns iconic assets on the Las Vegas Strip, receiving positive analyst sentiment but disappointing investors [1]. Group 1 - Analysts express a favorable view of VICI Properties, indicating strong support for the stock [1]. - Despite analyst enthusiasm, investor sentiment appears to be less optimistic, suggesting a disconnect between market perception and analyst recommendations [1]. - The company is positioned to benefit from its high-quality, dividend-paying assets, appealing to long-term investors seeking income [1].

VICI Properties Inc. (VICI) , which specializes in gaming and entertainment properties, reported its fourth-quarter and full-year 2024 results late in February. The company continued to benefit from its expansion efforts and strategic investments.VICI’s fourth-quarter 2024 adjusted funds from operations (AFFO) per share of 57 cents came in line with the Zacks Consensus Estimate. Moreover, the figure increased 3.6% from the prior-year quarter. Results reflected a year-over-year rise in revenues, mainly drive ...