Is VICI Properties (VICI) a Cheap REIT to Look at

VICI Properties Inc. (NYSE:VICI) is one of the 10 cheap REITs with huge upside.

On March 12, Mizuho downgraded VICI Properties Inc. (NYSE:VICI) to a Neutral rating. The firm estimated a target price of $30 for the stock, citing potential tenant credit concerns. These are tied to reports that Tilman Fertitta is exploring an acquisition of Caesars Entertainment Inc. (NASDAQ:CZR).

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Mizuho stated that Caesars’ business accounts for 39% of VICI’s rent. Nevertheless, VICI’s management has clarified that it lacks the ability to prevent a transaction unless there is a modification of the lease agreement. There is no indication that Fertitta’s offer is contingent on a modification of the lease agreement now, although it may be considered a negative factor from a credit perspective because Fertitta carries leverage.

On February 26, VICI Properties Inc. (NYSE:VICI) reported Q4 revenue of $1.01 billion, slightly ahead of the $1 billion consensus estimate. The company used the update to highlight several partnerships announced during 2025 that it believes will support its long-term growth strategy. These include investments and financing deals tied to major development projects and gaming operators, which also expand VICI’s tenant base.

VICI Properties Inc. (NYSE:VICI) specializes in hospitality, entertainment stations, and market-leading gaming. The company consists of premium assets, which are exclusively run by industry experts under a triple net lease agreement. It has managed to achieve viable growth through its strategic and intentional partnerships with leading developers and operators.

While we acknowledge the risk and potential of VICI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than VICI and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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