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While Vici is positioned to scoop up casinos that may be put on the market, Allen is enthusiastic about the company’s non-gaming acquisition prospects. In an investor presentation released earlier this month, Vici highlighted potential opportunities in experiential sub-groups, such as concert venues, movie theaters, spas and sports arenas, among others.<\/span><\/p>\n<\/div>\n\u201cOur current deep dive into these opportunities suggests that non-gaming assets could expand VICI’s acquisition opportunity 3x,\u201d said Allen.<\/strong><\/p>\nCompetitive Advantages<\/h2>\n
The Morgan Stanley analyst sees Vici as having advantages over gaming REIT rivals Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) and MGM Growth Properties (NYSE:MGP), including no conflicts of interest among management, a lower cost of capital than Gaming and Leisure, and a willingness to do transactions beyond traditional master leases.<\/p>\n
Allen also raised his price target on Vici stock to $26 from $25, implying upside of more than 20 percent from where the shares traded at this writing.<\/p>\n","protected":false},"excerpt":{"rendered":"
Shares of Vici Properties (NYSE:VICI) were higher by nearly three percent at this writing, good for the best showing among hotel and leisure real estate investment trusts (REITs) listed in New York, after Morgan Stanley analyst Thomas Allen upgraded the stock to \u201coverweight.\u201d Vici has traded lower since the June 24 announcement that Eldorado Resorts, […]<\/p>\n","protected":false},"author":46,"featured_media":113196,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,32093],"tags":[],"acf":[],"yoast_head":"\n
Vici Properties Soars Thanks to a Morgan Stanely Analyst Upgrade<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n