VICI Properties Inc. $VICI Price: $29.98 Target price: $32- | 🚀 Robin Rocket

VICI Properties Inc. $VICI

Price: $29.98
Target price: $32-33

$VICI is a US-based, three-chain REIT with assets primarily concentrated in the gaming, hospitality and entertainment sectors. According to the latest 10-Q report, VICI owns 28 properties nationwide, with a total area of ​​63 million square feet.

These properties include some of the iconic names in the gaming sector such as Caesars Palace, Harrah's and the recently announced The Venetian. They also own and operate 4 golf courses.

$VICI operating margin of 87% over the next 12 months is in the 85-90% range for high quality, well-established net lease REITs.

VICI's unique approach to investment in a clean lease has led to significant long-term results.

Last month, $VICI Properties announced the acquisition of MGM Growth Properties, making it the largest publicly traded casino owner in the United States.

The deal is expected to diversify VICI's assets, lower the cost of capital, and possibly lead to inclusion in the S&P 500.

Not an investment recommendation.