8 High Growth Real Estate Stocks That Are Profitable in 2024

3. VICI Properties Inc. (NYSE:VICI)

5-Year Net Income Growth: 35.58%

5-Year Revenue Growth: 33.19%

TTM Net Income: $2.64 Billion

Number of Hedge Fund Holders: 33

VICI Properties Inc. (NYSE:VICI) is an experiential real estate investment trust. The firm owns one of the largest portfolios of market-leading gaming, hospitality, and entertainment destinations in the US. This portfolio includes 93 experiential assets across a diverse portfolio comprising 54 gaming properties and 39 other experiential properties across the US and Canada. The company’s strategy involves partnering with quality experiential place makers and operators to create the highest quality experiential real estate portfolio.

VICI is one of the largest triple net lease REITs with $3.1 billion of annualized cash rent. Since the gaming regulatory environment creates high barriers to entry, the firm benefits from a 100% occupancy rate as tenant’s ability to move locations is limited. The firm has also demonstrated growth by announcing approximately $37 billion of domestic and international investments across gaming and other experiential assets since its founding in 2017. VICI also remains diversified with multiple revenue streams i.e. hotel rooms, meeting and convention space, gaming space, entertainment venues, and retail outlets.

For the second quarter, the firm’s total revenues rose 6.6% year-over-year to $957.0 million. AFFO attributable to common stockholders climbed 9.6% year-over-year. Net income attributable to common stockholders increased 7.3% as compared to the prior-year period. Furthermore, VICI committed up to $950 million of capital into existing high-quality partnerships.

VICI Properties Inc. (NYSE:VICI) is a world-leading gaming and experiential REIT with a significant scale and a track record of growth. The firm sets it apart from traditional net lease REITs with assets having high barriers to entry and high financial transparency.