Goldman Sachs Gives VICI Properties Buy Rating
December 9, 2023
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VICI ($NYSE:VICI) Properties is a real estate investment trust (REIT) that owns and operates gaming and entertainment assets. Recently, investment banking giant Goldman Sachs has assigned a Buy rating to VICI Properties stock, citing its strong dividend yield and the company’s long-term growth potential. The REIT’s portfolio consists of some of the most popular gaming and entertainment venues in the United States, including Harrah’s Las Vegas, Caesars Palace, Caesars Atlantic City, and Harrah’s New Orleans.
Additionally, VICI Properties owns casinos, racetracks, golf courses, and resorts that offer a variety of leisure activities. With its diversified portfolio, the company has been able to consistently generate significant cash flows and dividends for its shareholders. Goldman Sachs has given VICI Properties a Buy rating due to its strong dividend yield combined with the company’s long-term growth potential. The rating agency believes that VICI Properties is well-positioned to benefit from the continued growth of the gambling industry in the United States and will be able to capitalize on future investments in its gaming portfolio. Furthermore, Goldman Sachs highlighted the company’s strong balance sheet and its ability to use debt to finance acquisitions.
Price History
On Friday, Goldman Sachs gave VICI Properties a Buy rating, as the stock opened at $30.4 and closed at $30.5, up by 0.3% from its last closing price of 30.4. This positive rating is a sign that the company is on track to continuing to deliver strong returns to its shareholders. VICI Properties is a leading real estate company specializing in the acquisition, ownership and leasing of gaming, hospitality and entertainment venues and related assets.
With numerous properties across the country, the company’s portfolio of real estate assets encompasses some of the most iconic names in the gaming and entertainment industry. Investors have been generally pleased with the consistent returns from VICI properties, and Goldman Sachs’ Buy rating will likely further increase investor confidence in the company. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Vici Properties. More…
| Total Revenues | Net Income | Net Margin |
| 3.45k | 2.37k | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Vici Properties. More…
| Operations | Investing | Financing |
| 2.09k | -2.36k | 259.99 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Vici Properties. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 42.83k | 18.3k | 23.77 |
Key Ratios Snapshot
Some of the financial key ratios for Vici Properties are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | 91.4% |
| FCF Margin | ROE | ROA |
| – | – | – |
Analysis
GoodWhale performed an analysis of VICI PROPERTIES‘ fundamentals and found that it is strong in asset, dividend, growth, and profitability. Our Star Chart gives VICI PROPERTIES an 8/10 health score, indicating that it is financially secure and capable of withstanding any future crises without the risk of bankruptcy. According to our analysis, VICI PROPERTIES is a ‘cow’ type of company that pays out consistent and sustainable dividends, making it an attractive option for investors looking for steady and predictable returns. With its strong fundamentals and reliable dividend payouts, VICI PROPERTIES is an excellent pick for long-term investors who are looking for a safe investment option. More…
Peers
The commercial real estate market is highly competitive. Its main competitors are Realty Income Corp, W.P. Carey Inc, and STORE Capital Corp. All of these companies are well-established and have a significant presence in the market. VICI Properties Inc has a competitive advantage in terms of its size and scale, as well as its experience and expertise.
– Realty Income Corp ($NYSE:O)
Realty Income Corporation, together with its wholly-owned subsidiaries, is a real estate investment trust that focuses on the acquisition of net-leased commercial properties in the United States. As of December 31, 2020, the Company’s portfolio consisted of 5,741 properties leased to 492 commercial tenants in 48 states.
– W.P. Carey Inc ($NYSE:WPC)
W.P. Carey Inc is a real estate investment trust that owns and operates a diversified portfolio of properties across the United States. The company has a market cap of 15.41B as of 2022. The company’s portfolio consists of office buildings, warehouses, retail properties, and hotels. The company’s properties are leased to a variety of tenants, including Fortune 500 companies, government agencies, and non-profit organizations.
– STORE Capital Corp ($NYSE:STOR)
As of 2022, STORE Capital Corporation has a market capitalization of $8.94 billion. The company is a real estate investment trust that primarily invests in single-tenant net-leased properties across the United States.
Summary
Goldman Sachs has given VICI Properties a Buy rating in its recent investment analysis. This analysis is based on the current performance and future prospects of the company, indicating that it is a favorable investment option. Their analysis included an evaluation of the company’s financial condition, business model, competitive environment, management team, and industry trends. Goldman Sachs believes that VICI is well-positioned to benefit from current market conditions, with an attractive and diversified portfolio of gaming and hospitality assets.
The firm is confident that it can generate strong returns for investors over the long term. The company is also well-positioned to capitalize on opportunities arising from sector consolidation, and Goldman Sachs expects the stock to continue to appreciate in value.
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