{"id":188068,"date":"2021-10-06T09:35:12","date_gmt":"2021-10-06T16:35:12","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=188068"},"modified":"2021-10-07T11:04:46","modified_gmt":"2021-10-07T18:04:46","slug":"vici-stock-slide-opportunity-to-get-involved-says-analyst","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/vici-stock-slide-opportunity-to-get-involved-says-analyst\/","title":{"rendered":"VICI Properties Stock Slump Presents Buying Opportunity, Says Analyst"},"content":{"rendered":"

VICI Properties (NYSE:VICI) stock is off almost 10 percent over the past month. But that slide could present investors with an opportunity to get involved with shares of the casino landlord, according to one analyst.<\/p>\n

\"VICI
Shares of Caesars Palace, seen here, owner VICI Properties are slumping. An analyst says it’s a buying opportunity. (Image: Getty Images)<\/figcaption><\/figure>\n

In a note to clients today, KeyBanc analyst Todd Thomas upgrades the gaming real estate investment trust (REIT) to \u201coverweight\u201d from \u201csector weight\u201d with a $33 price target. That implies upside of nearly 14 percent from the Oct. 5 close.<\/p>\n

Figuring prominently in the stock’s recent weakness is a flood of new share issuance. Last month, VICI sold $3.6 billion in equity<\/a> to fund previously announced plans. That dilutes current investors, but the selloff is facilitating \u201ca very attractive entry point,\u201d says Thomas.<\/strong><\/p>\n

In March, the real estate company partnered with private equity firm Apollo Global Management (NYSE:APO) to acquire Venetian, Palazzo and Sands Expo and Convention Center from Las Vegas Sands (NYSE:LVS) for $6.25 billion. VICI is shelling out $4 billion<\/a> for the property assets. The gaming REIT is directing proceeds from the September share sale to finance that deal.<\/p>\n

VICI Stock Still Attractive<\/h2>\n

While VICI is mired in a slump, the Caesars Palace owner has a knack for savvy deal-making. Although it’s digesting multiple transactions today, it could remain a player for gaming and non-gaming real estate assets, according to KeyBanc’s Thomas.<\/p>\n

While growth off a relatively larger [real estate] base makes it more difficult, VICI\u2019s appetite remains healthy, with the investment landscape still ripe for both gaming and non-gaming investments in the United States and abroad,\u201d said the analyst.<\/p><\/blockquote>\n

As the recent sale of the Cosmopolitan confirms<\/a>, appetite for Las Vegas gaming properties remains strong, and market observers expect that as the US gaming industry continues rebounding from the coronavirus pandemic, more regional casinos \u2013 of which VICI owns an extensive portfolio — could hit the market.<\/p>\n

In August, the gaming landlord said it\u2019s acquiring rival MGM Growth Properties for $17.2 billion<\/a> in stock. The transaction created the largest owner of Las Vegas Strip casino real estate. VICI is taking on $5.7 billion in MGP debt in that deal.<\/p>\n

Future Upgrade for VICI<\/h2>\n

VICI currently owns the property assets of 28 gaming venues with its tenant roster, including Caesars Entertainment, Century Casinos, and Penn National Gaming, among others.<\/p>\n

\n

KeyBanc’s Thomas notes the gaming REIT is \u201cen route to obtain an [investment grade] rating from S&P in the months ahead.\u201d That could be a catalyst for VICI stocks, because the landlord currently carries a \u201cBB\u201d rating — junk status — from S&P, though the outlook on that grade is \u201cpositive.\u201d An improved credit grade could lower VICI’s financing costs if it issues debt in the future.<\/p>\n<\/div>\n

The stock yields 4.99 percent, or more than double the dividend yield on the MSCI US Investable Market Real Estate 25\/50 Index.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

VICI Properties (NYSE:VICI) stock is off almost 10 percent over the past month. But that slide could present investors with an opportunity to get involved with shares of the casino landlord, according to one analyst. In a note to clients today, KeyBanc analyst Todd Thomas upgrades the gaming real estate investment trust (REIT) to \u201coverweight\u201d […]<\/p>\n","protected":false},"author":46,"featured_media":188069,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10],"tags":[],"acf":[],"yoast_head":"\nVICI Stock Slide Opportunity To Get Involved, Says Analyst<\/title>\n<meta name=\"description\" content=\"VICI stock is in a slump dating back to September, but at least one analyst sees opportunity.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/vici-stock-slide-opportunity-to-get-involved-says-analyst\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"VICI Stock Slide Opportunity To Get Involved, Says Analyst\" \/>\n<meta property=\"og:description\" content=\"VICI stock is in a slump dating back to September, but at least one analyst sees opportunity.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/vici-stock-slide-opportunity-to-get-involved-says-analyst\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-06T16:35:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-10-07T18:04:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/10\/CP2-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1707\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/vici-stock-slide-opportunity-to-get-involved-says-analyst\/\",\"url\":\"https:\/\/www.casino.org\/news\/vici-stock-slide-opportunity-to-get-involved-says-analyst\/\",\"name\":\"VICI Stock Slide Opportunity To Get Involved, Says Analyst\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/vici-stock-slide-opportunity-to-get-involved-says-analyst\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/vici-stock-slide-opportunity-to-get-involved-says-analyst\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/10\/CP2-scaled.jpg\",\"datePublished\":\"2021-10-06T16:35:12+00:00\",\"dateModified\":\"2021-10-07T18:04:46+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"VICI stock is in a slump dating back to September, but at least one analyst sees opportunity.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/vici-stock-slide-opportunity-to-get-involved-says-analyst\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/vici-stock-slide-opportunity-to-get-involved-says-analyst\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/vici-stock-slide-opportunity-to-get-involved-says-analyst\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/10\/CP2-scaled.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/10\/CP2-scaled.jpg\",\"width\":2560,\"height\":1707,\"caption\":\"Shares of Caesars Palace owner VICI Properties are slumping. 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