Barclays Reduces VICI Target Due to Tenant Issues
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 10 2025
0mins
Should l Buy MGM?
Source: Yahoo Finance
VICI Properties Overview: VICI Properties Inc. is a real estate investment trust that owns 93 properties, primarily casinos and entertainment venues, with major tenants including Caesar’s Entertainment and MGM Resorts. The company has maintained a 100% occupancy rate since going public in 2018.
Recent Price Target Adjustment: Barclays has lowered its price target for VICI from $37 to $33 while maintaining an Overweight rating, citing tenant-related concerns and adjustments based on Q3 earnings.
Dividend Performance: VICI has a strong track record of raising dividends for seven consecutive years and is included in a list of dividend stocks expected to yield over 4% in 2025.
Investment Considerations: While VICI is recognized as a solid investment, there are suggestions that certain AI stocks may offer better upside potential with less risk, prompting a recommendation to explore alternative investment opportunities.
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Analyst Views on MGM
Wall Street analysts forecast MGM stock price to rise
14 Analyst Rating
5 Buy
7 Hold
2 Sell
Hold
Current: 34.190
Low
29.00
Averages
40.31
High
56.00
Current: 34.190
Low
29.00
Averages
40.31
High
56.00
About MGM
MGM Resorts International is a global gaming and entertainment company with national and international locations featuring hotels and casinos, meetings and conference spaces, live and theatrical entertainment experiences, and a range of restaurant, nightlife and retail offerings. The Company’s segments include Las Vegas Strip Resorts, Regional Operations, MGM China, and MGM Digital. The Las Vegas Strip Resorts segment consists of Aria, Bellagio, The Cosmopolitan of Las Vegas, MGM Grand Las Vegas, Mandalay Bay, Luxor, New York-New York, Excalibur, and Park MGM. The Regional Operations segment consists of MGM Grand Detroit in Detroit, Michigan; Beau Rivage in Biloxi, Mississippi; Gold Strike Tunica in Tunica; Borgata in Atlantic City, New Jersey; MGM National Harbor in Prince George’s County, Maryland; MGM Springfield in Springfield, Massachusetts; Empire City in Yonkers, New York, and others. MGM Digital is its online gaming portfolio which is primarily comprised of LeoVegas.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
MGM Resorts (MGM) Q4 2025 Earnings Call Transcript
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Clairvest Group Reports Q3 2026 Financial Results
- Net Income Growth: For the third quarter ended December 31, 2025, Clairvest Group reported net income of CAD 105.1 million, or CAD 7.65 per share, primarily driven by successful realizations from F12.net and Acera Insurance, showcasing the company's effective investment management.
- Significant Investment Returns: Clairvest and CEP VI sold their interest in F12.net, achieving a 4.6x return on invested capital with proceeds of CAD 164 million, compared to an investment value of CAD 23.2 million, reflecting strong performance in the technology services sector.
- New Acquisition Opportunities: Clairvest entered into an agreement with CEP VII to acquire MGM Northfield Park for USD 546 million, with an expected equity investment of approximately USD 165 million, further expanding its footprint in the regional gaming market and enhancing future revenue potential.
- Share Buyback: During the third quarter, Clairvest repurchased and cancelled 60,500 common shares at a total cost of CAD 4.3 million, increasing the book value per share by CAD 0.09, demonstrating the company's commitment to shareholder returns and proactive capital management.
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Clairvest Group Reports Q3 2026 Financial Results
- Net Income Growth: For the third quarter ended December 31, 2025, Clairvest Group reported net income of CAD 105.1 million, or CAD 7.65 per share, primarily driven by successful investment realizations in F12.net and Acera Insurance, showcasing the company's effective investment management.
- Significant Investment Returns: Clairvest and Clairvest Equity Partners VI sold their interest in F12.net for CAD 164 million, achieving a 4.6x return on invested capital, which further solidifies their market position in the technology services sector.
- New Business Acquisition: Clairvest and Clairvest Equity Partners VII entered into an agreement to acquire MGM Northfield Park for USD 546 million, with an expected equity investment of approximately USD 165 million, reflecting the company's proactive strategy in business expansion.
- Share Buyback Program: During the third quarter, Clairvest repurchased and canceled 60,500 common shares at a total cost of CAD 4.3 million, enhancing the book value per share by CAD 0.09, indicating a strong commitment to shareholder returns.
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- AGNC Yield Attraction: AGNC boasts an eye-catching forward yield of 12.8%, and while its projected EPS of $1.51 covers the $1.44 dividend, its declining earnings indicate a potential high-yield trap, suggesting caution for investors.
- Cost of Financing Pressure: AGNC generates cash by selling mortgage-backed securities (MBS), but with short-term rates exceeding long-term rates, its financing costs have risen, limiting profitability; if the real estate market remains sluggish, dividend cuts may be on the horizon.
- Vici's Stability: In contrast, Vici Properties, as an equity REIT, owns 93 entertainment properties and has maintained a 100% occupancy rate since its 2018 IPO, with projected adjusted funds from operations expected to grow 4%-5% by 2025, showcasing strong profitability and stable dividend payments.
- Leasing Model Advantage: Vici's leases are tied to the Consumer Price Index, allowing for rent increases in line with inflation, and its triple-net lease structure requires tenants to cover maintenance and taxes, further enhancing financial stability and dividend growth potential.
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- Significant User Growth: During Super Bowl week, Kalshi saw a 1,544% increase in downloads, with daily active users reaching nearly 2 million, nearly three times that of BetMGM, indicating strong appeal in prediction markets.
- Surge in Trading Volume: Kalshi traded over $1 billion during the Super Bowl, a staggering 2,700% increase, reflecting consumers' strong demand for diverse trading options, which is driving revenue growth for the company.
- Intensifying Market Competition: Despite Kalshi outspending Polymarket by 19 times and DraftKings by 35% in marketing, traditional sports betting giants like DraftKings and FanDuel remain dominant, with daily active users reaching 5 million and 4.2 million, respectively.
- Optimistic Future Outlook: Robinhood reported that event contracts are the fastest-growing business in its history, with expectations to trade 12 billion event contracts in 2026, showcasing market potential and the success of its strategic initiatives.
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Prediction Markets Hit Record Numbers During Super Bowl
- Significant User Growth: During Super Bowl week, Kalshi experienced a 1,544% increase in downloads and nearly 2 million daily active users, reflecting strong consumer interest in sports prediction markets and enhancing the company's market share in this sector.
- Surging Trading Volume: Over $1 billion was traded on Kalshi during the Super Bowl, marking a 2,700% increase from the previous year, indicating robust consumer demand for diverse trading options and strengthening Kalshi's competitive position in the prediction market.
- Massive Market Potential: With major sports events approaching in 2026, prediction markets are expected to see increased trading opportunities, and Robinhood's event contracts are described as the fastest-growing business in the company's history, highlighting significant future profitability potential.
- Aggressive Marketing Strategy: Kalshi's marketing expenditure in the U.S. is approximately 19 times that of Polymarket and about 35% more than DraftKings, and this proactive marketing approach is likely to enhance brand visibility and attract more users to participate.
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MGM Resorts (MGM) Q4 2025 Earnings Call Transcript
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Clairvest Group Reports Q3 2026 Financial Results
- Net Income Growth: For the third quarter ended December 31, 2025, Clairvest Group reported net income of CAD 105.1 million, or CAD 7.65 per share, primarily driven by successful realizations from F12.net and Acera Insurance, showcasing the company's effective investment management.
- Significant Investment Returns: Clairvest and CEP VI sold their interest in F12.net, achieving a 4.6x return on invested capital with proceeds of CAD 164 million, compared to an investment value of CAD 23.2 million, reflecting strong performance in the technology services sector.
- New Acquisition Opportunities: Clairvest entered into an agreement with CEP VII to acquire MGM Northfield Park for USD 546 million, with an expected equity investment of approximately USD 165 million, further expanding its footprint in the regional gaming market and enhancing future revenue potential.
- Share Buyback: During the third quarter, Clairvest repurchased and cancelled 60,500 common shares at a total cost of CAD 4.3 million, increasing the book value per share by CAD 0.09, demonstrating the company's commitment to shareholder returns and proactive capital management.
See More
Clairvest Group Reports Q3 2026 Financial Results
- Net Income Growth: For the third quarter ended December 31, 2025, Clairvest Group reported net income of CAD 105.1 million, or CAD 7.65 per share, primarily driven by successful investment realizations in F12.net and Acera Insurance, showcasing the company's effective investment management.
- Significant Investment Returns: Clairvest and Clairvest Equity Partners VI sold their interest in F12.net for CAD 164 million, achieving a 4.6x return on invested capital, which further solidifies their market position in the technology services sector.
- New Business Acquisition: Clairvest and Clairvest Equity Partners VII entered into an agreement to acquire MGM Northfield Park for USD 546 million, with an expected equity investment of approximately USD 165 million, reflecting the company's proactive strategy in business expansion.
- Share Buyback Program: During the third quarter, Clairvest repurchased and canceled 60,500 common shares at a total cost of CAD 4.3 million, enhancing the book value per share by CAD 0.09, indicating a strong commitment to shareholder returns.
See More
Comparison of AGNC and Vici REIT Yields
- AGNC Yield Attraction: AGNC boasts an eye-catching forward yield of 12.8%, and while its projected EPS of $1.51 covers the $1.44 dividend, its declining earnings indicate a potential high-yield trap, suggesting caution for investors.
- Cost of Financing Pressure: AGNC generates cash by selling mortgage-backed securities (MBS), but with short-term rates exceeding long-term rates, its financing costs have risen, limiting profitability; if the real estate market remains sluggish, dividend cuts may be on the horizon.
- Vici's Stability: In contrast, Vici Properties, as an equity REIT, owns 93 entertainment properties and has maintained a 100% occupancy rate since its 2018 IPO, with projected adjusted funds from operations expected to grow 4%-5% by 2025, showcasing strong profitability and stable dividend payments.
- Leasing Model Advantage: Vici's leases are tied to the Consumer Price Index, allowing for rent increases in line with inflation, and its triple-net lease structure requires tenants to cover maintenance and taxes, further enhancing financial stability and dividend growth potential.
See More
Surge in Prediction Market Trading Volumes
- Significant User Growth: During Super Bowl week, Kalshi saw a 1,544% increase in downloads, with daily active users reaching nearly 2 million, nearly three times that of BetMGM, indicating strong appeal in prediction markets.
- Surge in Trading Volume: Kalshi traded over $1 billion during the Super Bowl, a staggering 2,700% increase, reflecting consumers' strong demand for diverse trading options, which is driving revenue growth for the company.
- Intensifying Market Competition: Despite Kalshi outspending Polymarket by 19 times and DraftKings by 35% in marketing, traditional sports betting giants like DraftKings and FanDuel remain dominant, with daily active users reaching 5 million and 4.2 million, respectively.
- Optimistic Future Outlook: Robinhood reported that event contracts are the fastest-growing business in its history, with expectations to trade 12 billion event contracts in 2026, showcasing market potential and the success of its strategic initiatives.
See More
Prediction Markets Hit Record Numbers During Super Bowl
- Significant User Growth: During Super Bowl week, Kalshi experienced a 1,544% increase in downloads and nearly 2 million daily active users, reflecting strong consumer interest in sports prediction markets and enhancing the company's market share in this sector.
- Surging Trading Volume: Over $1 billion was traded on Kalshi during the Super Bowl, marking a 2,700% increase from the previous year, indicating robust consumer demand for diverse trading options and strengthening Kalshi's competitive position in the prediction market.
- Massive Market Potential: With major sports events approaching in 2026, prediction markets are expected to see increased trading opportunities, and Robinhood's event contracts are described as the fastest-growing business in the company's history, highlighting significant future profitability potential.
- Aggressive Marketing Strategy: Kalshi's marketing expenditure in the U.S. is approximately 19 times that of Polymarket and about 35% more than DraftKings, and this proactive marketing approach is likely to enhance brand visibility and attract more users to participate.
See More
