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Should You Continue to Keep Your VICI Properties (VICI) Shares?

Jose Karlo Mari Tottoc
·2-min read

Baron Funds, an investment management firm, released its “Baron Real Estate Income Fund” third quarter 2023 investor letter, a copy of which can be downloaded here. In the first nine months of 2023, the Fund has increased 1.20%, outperforming the REIT Index, which declined 2.89%. As of September 30, 2023, the Fund has maintained its top 3% ranking among all real estate funds for its 5-year performance period. Spare some time to check the fund’s top 5 holdings to know more about their top bets for 2023.

In its Q2 2023 investor letter, Baron Real Estate Income Fund mentioned VICI Properties Inc. (NYSE:VICI) and explained its insights for the company. Founded in 2017, VICI Properties Inc. (NYSE:VICI) is a United States-based real estate investment trust company with a $28.4 billion market capitalization. VICI Properties Inc. (NYSE:VICI) delivered a -13.33% return since the beginning of the year, while its 12-month returns are down by -5.42%. The stock closed at $28.08 per share on October 19, 2023.

Here is what Baron Real Estate Income Fund has to say about VICI Properties Inc. (NYSE:VICI) in its Q2 2023 investor letter:

"We have slightly decreased our already modest exposure to the triple net gaming REIT VICI Properties Inc. (NYSE:VICI), an owner of quality gaming, hospitality, and entertainment properties. The company pays a 6% dividend that is well covered, has a strong track record of making accretive acquisitions, and has additional opportunities for growth in the years ahead."

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STUDIO GRAND OUEST/Shutterstock.com

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Our calculations show that VICI Properties Inc. (NYSE:VICI) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. VICI Properties Inc. (NYSE:VICI) was in 40 hedge fund portfolios at the end of the second quarter of 2023, compared to 39 funds in the previous quarter. VICI Properties Inc. (NYSE:VICI) delivered a -14.15% return in the past 3 months. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters Q3 2023 page.

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Disclosure: None. This article is originally published at Insider Monkey.