VICI Properties is a real estate investment trust (REIT) that owns, acquires, and develops gaming, hospitality, and entertainment properties. As of December 31, 2021, the company had 31 properties in its portfolio, which included the Caesars Palace Las Vegas, Harrah's Atlantic City, and the Horseshoe Baltimore.
With total revenue of $678.2 million, a 48% increase over the same period the previous year, the company's most recent financial reports for the third quarter of 2022 demonstrated substantial revenue growth. The net income attributable to holders of common stock increased by 36% to $76.4 million. Funds from operations (FFO), a crucial indicator used to assess the success of REITs, for the company were $397.5 million, up 39% over the previous year.
The Momentum Indicator for VICI Properties dropped below 0 on February 15, 2023. This technical indication shows that the stock may be changing directions and moving downward once more.
Tickeron's A.I.dvisor looked at 84 similar instances where the Momentum Indicator turned negative. In 40 of the 84 cases, the stock moved further down in the following days. The odds of a decline are at 48%, suggesting that investors should exercise caution.
Strong financial results and a diverse portfolio for VICI Properties point to a company with excellent fundamentals that may outweigh the current technical slump.