A Seeking Alpha report downgraded VICI Properties (VICI) from 'Buy' to 'Sell'. The report cited risks from rising interest rates. The analysis noted the real estate investment trust faces significantly higher costs when refinancing upcoming debt maturities at rates above its current fixed coupons.
VICI recently completed a $1.75 billion notes offering. This offering replaced debt yielding around 4.3%. New notes carry higher rates of 5.4% and 5.75%. Other analysts also expressed bearish sentiment, with Scotiabank and JPMorgan recently lowering their price targets on the stock. VICI's stock has traded at 52-week lows.