VICI Properties logged a -1.3% change during today's afternoon session, and is now trading at a price of $32.01 per share.
Over the last year, VICI Properties logged a 3.1% change, with its stock price reaching a high of $35.07 and a low of $26.62. Over the same period, the stock underperformed the S&P 500 index by -20.5%. As of April 2023, the company's 50-day average price was $29.69. VICI Properties Inc. is an S&P 500 experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality and entertainment destinations, including Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las Vegas, three of the most iconic entertainment facilities on the Las Vegas Strip. Based in New York, NY, the large-cap Real Estate company has 23 full time employees. VICI Properties has offered a 4.9% dividend yield over the last 12 months.
The Company May Be Profitable, but Its Balance Sheet Is Highly Leveraged:
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Revenue (MM) | $898 | $895 | $1,226 | $1,510 | $2,601 | $3,450 |
| Revenue Growth | n/a | -0.35% | 36.97% | 23.17% | 72.28% | 32.66% |
| Operating Margins | 84% | 94% | 73% | 68% | 44% | 70% |
| Net Margins | 57% | 61% | 73% | 67% | 43% | 69% |
| Net Income (MM) | $524 | $546 | $892 | $1,014 | $1,118 | $2,370 |
| Net Interest Expense (MM) | $213 | $248 | $309 | $392 | $540 | $782 |
| Depreciation & Amort. (MM) | $4 | $4 | $4 | $3 | $3 | $4 |
| Earnings Per Share | $1.43 | $1.24 | $1.75 | $1.76 | $1.27 | $2.4 |
| Diluted Shares (MM) | 367 | 439 | 511 | 577 | 880 | 1,014 |
| Capital Expenditures (MM) | $1 | $3 | $3 | $3 | $2 | $3 |
| Total Debt (MM) | $4,122 | $4,792 | $6,766 | $4,695 | $13,740 | $16,693 |
| Net Debt / EBITDA | 4.65 | 4.36 | 7.16 | 3.84 | 11.84 | 6.69 |
VICI Properties has growing revenues and increasing reinvestment in the business, decent operating margins with a stable trend, and irregular cash flows. However, the firm has a highly leveraged balance sheet. Finally, we note that VICI Properties has positive expected EPS Growth.
VICI Properties Has Attractive P/B and P/E Ratios:
VICI Properties has a trailing twelve month P/E ratio of 12.3, compared to an average of 25.55 for the Real Estate sector. Based on its EPS guidance of $2.63, the company has a forward P/E ratio of 11.3. In contrast, the market is likely undervaluing VICI Properties in terms of its equity because its P/B ratio is 1.35 while the sector average is 2.1.
VICI Properties Has an Analyst Consensus of Some Upside Potential:
The 20 analysts following VICI Properties have set target prices ranging from $32.0 to $43.0 per share, for an average of $35.51 with a buy rating. As of April 2023, the company is trading -16.4% away from its average target price, indicating that there is an analyst consensus of some upside potential.
VICI Properties has a very low short interest because 1.2% of the company's shares are sold short. Institutions own 98.5% of the company's shares, and the insider ownership rate stands at 0.21%, suggesting a small amount of insider investors. The largest shareholder is Vanguard Group Inc, whose 14% stake in the company is worth $4,669,211,580.
