VICI Properties raises full-year AFFO forecast boosted by acquisitions
Oct 25 (Reuters) - VICI Properties Inc 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)
