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Investing.com - Cantor Fitzgerald initiated coverage on VICI Properties Inc. (NYSE:VICI) with an Overweight rating and a $37.00 price target, representing 14.0% upside from current levels. The company, currently trading at a P/E ratio of 12.46x and offering a 5.52% dividend yield, has maintained a strong track record of dividend growth for seven consecutive years, according to InvestingPro data.
The investment firm’s price target assumes a 2026E AFFO multiple of 15.2x, which compares to VICI’s chief peer Gaming and Leisure Properties (GLPI) that currently trades at 11.6x.
Cantor Fitzgerald believes there is increased opportunity for the 10-year Treasury rate to stabilize and remain range-bound or potentially decline, which may reaccelerate the overall casino transaction marketplace and could eventually put large-scale Las Vegas casinos back on the docket.
The firm notes sizeable investment opportunities could emerge in 2026, including funding a potential New York casino capex project pending the award of three licenses, and financing redevelopments at portfolio properties such as The Venetian.
Cantor Fitzgerald expects VICI to look to the non-gaming segment for growth during periods of a slow casino transaction marketplace.
In other recent news, VICI Properties Inc. reported impressive earnings for the second quarter of 2025, with earnings per share (EPS) of $0.82, significantly exceeding the anticipated $0.69. The company’s revenue reached 1 billion USD, slightly surpassing the expected 993 million USD. Additionally, VICI Properties raised its 2025 Adjusted Funds From Operations (AFFO) guidance, signaling confidence in its future financial performance. Meanwhile, Six Flags Entertainment Corporation is under pressure from Land & Buildings Investment Management to monetize its real estate assets. The investment firm, a significant shareholder, suggests that such a move could unlock substantial near-term shareholder value. Land & Buildings highlighted that Six Flags’ stock has declined over 50% this year and trades at a low EBITDA multiple. These developments underscore the strategic and financial maneuvers companies are considering in the current economic landscape.
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