VICI Properties: This Is Too Good To Pass Up On

Andres Veurink 2.43K Followers Follow Summary Vici Properties is a differentiated REIT focused on gaming and experiential real estate, delivering robust AFFO growth and reliable dividends. Despite a 16% 5-year share price decline, VICI’s annualized total returns are attractive for income-focused investors, especially if share price erosion is disregarded. VICI’s long-term, triple-net leases with iconic tenants like Caesars and MGM ensure 100% occupancy and strong cash flow visibility, supporting continued dividend growth. I rate VICI a Buy, citing resilient AFFO, prudent capital deployment, and modeled dividend CAGR of 8.6–12.8% through 2030, with payout ratios remaining healthy. SewcreamStudio/iStock via Getty Images A Differentiated Type of REIT This is not the type of REIT I've covered before. VICI Properties' ( VICI ) focus does not lie with single-family or multi-family homes, or even commercial or industrial, as you'd also see. No, its focus This article was written by Andres Veurink 2.43K Followers Follow With over a decade of institutional investment experience, I specialize in identifying growth opportunities at the intersection of technological disruption and macro-thematic energy shifts. I've spent the majority of that time at a hedge fund here in Rotterdam, working my way up as an analyst. My work reflects rigorous standards as I myself have a very high standard as to what I invest my money in. My primary coverage spans the technology sector—with a focus on SaaS and cloud infrastructure—and the energy and minerals markets. I tend to be very data and trend driven in my work, analyzing unit economics and supply chain gaps among a number of other often overlooked areas in business and industries.I find these offer incredible growth opportunities and are also very fun to research and follow. It's a very active space with plenty of news coming out each week. Work is my own thoughts and research is done only by myself. Analyst’s Disclosure: I/we have a beneficial long position in the shares of VICI either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.