VICI Properties Inc. (VICI) came out with quarterly funds from operations (FFO) of $0.57 per share, beating the Zacks Consensus Estimate of $0.56 per share. This compares to FFO of $0.54 per share a year ago.
VICI's Q3 earnings are likely to reflect the company's accretive expansion moves and the benefits of owning a high-quality portfolio with a diverse revenue base.
Get a deeper insight into the potential performance of VICI Properties (VICI) for the quarter ended September 2024 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.
VICI Properties and Rexford Industrial Realty offer strong upside potential over the next 12-24 months despite recent market undervaluation and volatility. VICI's fundamentals are robust, with significant AFFO and revenue growth, a solid balance sheet, and a favorable dividend payout ratio. Rexford Industrial Realty, though less popular, shows resilience with strong AFFO growth, a solid balance sheet, and higher dividend growth compared to VICI.
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VICI Properties is one of the top REITs in my portfolio. Since my initial bullish coverage on Seeking Alpha, VICI's stock price has risen 13.9%, resulting in a 17.1% total return. My long-term investment in VICI has been rewarding, with consistent additions to my position over the years.
VICI Properties Inc. is a high-quality experiential REIT with robust fundamentals and an attractive valuation. It has outperformed the S&P 500 markedly as the market anticipates a more dovish Fed through 2025. I highlight why VICI's valuation re-rating is likely still in the earlier stages, as it benefits from its recent investments.
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In the latest trading session, VICI Properties Inc. (VICI) closed at $32.81, marking a -0.76% move from the previous day.
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VICI Properties Inc. (VICI) concluded the recent trading session at $33.62, signifying a +0.42% move from its prior day's close.
Since my buy rating in July, shares of VICI Properties have rallied 20%. An ongoing shift from discretionary income spent on things to experiences is a positive for the REIT. VICI's leverage ratio held steady at 5.4 in Q2.