Vici Properties Raises Full: year AFFO forecast boosted by acquisitions

VICI Properties

25/10/2023 22:25

Oct 25 (Reuters) - VICI Properties Inc  VICI.N  on
Wednesday raised its full-year forecast for adjusted funds from
operation (AFFO), as it gained from acquisitions and financings.
    The real estate investment trust now estimates full-year
AFFO to be between $2.17 billion and $2.18 billion, or $2.14 to
2.15 per share, up from its prior outlook of $2.13 billion to
$2.16 billion, or $2.11 to $2.14 per share. 
    The REIT, which owns assets such as MGM Grand and the
Venetian Resort Las Vegas on the Vegas strip, reported a 16.4%
jump in AFFO to $547.6 million for the quarter ended Sept. 30,
from the year-ago period. 
    On a per share basis, AFFO increased 10.7% year-over-year to
54 cents, in the third quarter, but was still far below
analysts' estimates of 63 cents, according to LSEG data. 
    Total revenues in the reported quarter rose 20.3% to $904.3
million from a year ago, and was above analysts' estimates of
$898.80 million, according to LSEG data. 
    Shares of VICI Properties rose 1.09% in trading after the
bell. 

 (Reporting by Aatreyee Dasgupta and Ananta Agarwal in
Bengaluru; Editing by Shailesh Kuber)
 ((Aatreyee.Dasgupta@thomsonreuters.com))