VICI Properties: Downgrading On Relative Mispricing And Concentration Risk

Core Viewpoint - VICI Properties has demonstrated resilience amidst a downturn in tech stocks, potentially benefiting from its tariff-resistant nature and lease escalators that may gain from inflation [1] Company Analysis - VICI Properties is perceived as a strong investment due to its ability to withstand market fluctuations and capitalize on inflationary pressures [1] - The company is characterized by a robust balance sheet and effective management, which are critical for long-term growth [1] Investment Strategy - The investment approach focuses on identifying undervalued companies with secular growth potential, emphasizing the importance of strong financial health and management in sectors with extended growth opportunities [1]