VICI Properties: Strong Buy With Rich Yields And Promising Upside Story

Juxtaposed Ideas15.51K FollowersFollow5ShareSavePlay(13min)Comments(12)SummaryMacro pessimism, Las Vegas overhang, and tenant concentration have contributed to VICI's steep selloff, albeit triggering my upgraded Strong Buy rating.The tenants' profitable metrics, 100% rent collection, triple net lease, and inflation-protected escalators support the REIT's resilient operations.VICI's diversification into experiential assets further enhances its long-term prospects while offering a speculative upside potential, assuming valuation re-rating nearer to its diversified REIT peers.The REIT's minimal share dilution and the growing AFFO per share performance have contributed to its secure dividend investment thesis.VICI's dividend is even richer at forward yields of 6.59%, with the selloff unlocking an excellent upside potential to my bull-case long-term PT of $37.30. FOTOKITA/iStock via Getty Images I previously rated VICI Properties Inc. (VICI) as a buy in November 2025, attributed to the REIT's profitable growth trends, the resilient gaming assets in Las Vegas, and the secure/rich income investment thesis. In thisThis article was written byJuxtaposed Ideas15.51K FollowersFollowI am a full-time analyst interested in a wide range of stocks. With my unique insights and knowledge, I hope to provide other investors with a contrasting view of my portfolio, given my particular background.If you have any questions, feel free to reach out to me via a direct message on Seeking Alpha or leave a comment on one of my articles.Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. 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. The analysis is provided exclusively for informational purposes and should not be considered professional investment advice. Before investing, please conduct personal in-depth research and utmost due diligence, as there are many risks associated with the trade, including capital loss.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.