Ticker (Exchange) – VICI (NYSE)
ISIN - US9256521090
Current price – $33.74
Target price – $35.68
Growth potential – 5.7%
Dividend yield – 4.9%💵
Investment horizon – 1 year
VICI Properties is a real estate investment trust (REIT) that specializes in casinos and other entertainment properties. It was formed as a spin-off from Caesars Entertainment Corporation during its bankruptcy proceedings. The trust leases properties to casinos like Caesars, Harrah's, MGM, among others. With strong financial performance and a high level of dividend payouts, VICI Properties is an attractive investment option. The fair value of VICI's shares is estimated at $35.68, with a 5.7% upside potential. The dividend yield is 4.9%.
Investment thesis
🔼 Strong Financial Performance. For Q2 2024, VICI Properties delivered strong financial results. Revenue increased by 6.6% y/y, reaching $957 mln. Net income grew by 7.3% y/y to $741.3 mln, which corresponds to earnings per share (EPS) of $0.71. Adjusted Funds from Operations (AFFO) rose by 9.6% y/y to $592.4 mln. These figures surpassed market expectations. Moreover, VICI Properties raised its AFFO forecast for 2024 to $2.35-2.37 bln, or $2.24-2.26 per share.
🔼 Dividends. Over the past 5 years, VICI Properties has consistently increased its dividend payouts. Currently, the dividend yield is 4.9%, slightly below the Federal Reserve’s key rate (5.25-5.5%). As monetary policy loosens, this dividend level will become increasingly attractive to investors.
To open a brokerage account with Unibank Invest, please fill out the application form or contact us at +374 43 004 382.
Disclaimer
The information provided above is not an investment recommendation and does not guarantee or promise profitability. Before investing, you should assess the potential risks and rewards and determine your willingness and ability to accept such risks.
Unibank OJSC is regulated by the Central Bank of Armenia.
ISIN - US9256521090
Current price – $33.74
Target price – $35.68
Growth potential – 5.7%
Dividend yield – 4.9%💵
Investment horizon – 1 year
VICI Properties is a real estate investment trust (REIT) that specializes in casinos and other entertainment properties. It was formed as a spin-off from Caesars Entertainment Corporation during its bankruptcy proceedings. The trust leases properties to casinos like Caesars, Harrah's, MGM, among others. With strong financial performance and a high level of dividend payouts, VICI Properties is an attractive investment option. The fair value of VICI's shares is estimated at $35.68, with a 5.7% upside potential. The dividend yield is 4.9%.
Investment thesis
🔼 Strong Financial Performance. For Q2 2024, VICI Properties delivered strong financial results. Revenue increased by 6.6% y/y, reaching $957 mln. Net income grew by 7.3% y/y to $741.3 mln, which corresponds to earnings per share (EPS) of $0.71. Adjusted Funds from Operations (AFFO) rose by 9.6% y/y to $592.4 mln. These figures surpassed market expectations. Moreover, VICI Properties raised its AFFO forecast for 2024 to $2.35-2.37 bln, or $2.24-2.26 per share.
🔼 Dividends. Over the past 5 years, VICI Properties has consistently increased its dividend payouts. Currently, the dividend yield is 4.9%, slightly below the Federal Reserve’s key rate (5.25-5.5%). As monetary policy loosens, this dividend level will become increasingly attractive to investors.
To open a brokerage account with Unibank Invest, please fill out the application form or contact us at +374 43 004 382.
Disclaimer
The information provided above is not an investment recommendation and does not guarantee or promise profitability. Before investing, you should assess the potential risks and rewards and determine your willingness and ability to accept such risks.
Unibank OJSC is regulated by the Central Bank of Armenia.
