American Assets Trust, Inc. (AAT) vs VICI Properties Inc. (VICI)

American Assets Trust, Inc. and VICI Properties Inc. are both Reit Diversified companies. VICI Properties Inc. is the larger, with a market value of $25.8B against $1.3B — 19.5× the size. VICI Properties Inc. trades at the lower P/E: 9.1× against 74.4×. VICI Properties Inc. grew revenue faster over the last twelve months: 4.36% against −2.89%. VICI Properties Inc. has the higher net margin (67.5% vs 4.09%) and the higher return on invested capital (4.93% vs 2.37%). Both pay a dividend; American Assets Trust, Inc. yields more (6.57% vs 5.42%). Across the 23 metrics below, VICI Properties Inc. leads on 19 and American Assets Trust, Inc. on 4.

Valuation

Metric AAT VICI Reit Diversified median
P/E 74.41 9.11 23.72
P/S 2.98 6.26 3.28
P/B 1.24 0.87 0.87
Price to free cash flow 14.78 9.71 9.21
EV/EBITDA 12.49 11.44 11.57
EV/Sales 6.59 10.28 6.64
Earnings yield 1.34% 10.97% 1.04%
Free cash flow yield 6.77% 10.30% 0.16%

Profitability

Metric AAT VICI Reit Diversified median
Gross margin 70.87% 100.00% 77.09%
Operating margin 22.77% 88.72% 33.33%
Net margin 4.09% 67.50% 2.62%
Free cash flow margin 20.16% 64.44% 3.11%
Return on equity 1.64% 9.70% 3.13%
Return on assets 0.61% 5.86% 0.35%
Return on invested capital 2.37% 4.93% 2.80%

Growth

Metric AAT VICI Reit Diversified median
Revenue growth (TTM) (2.89%) 4.36% 5.49%
EPS growth (last fiscal year) (2.13%) 1.95% —
Revenue growth, 5-year CAGR 4.83% 26.73% 4.83%
Net income growth, 5-year CAGR 15.01% 25.50% 0.00%

Health

Metric AAT VICI Reit Diversified median
Debt to equity 1.61 0.57 1.13
Current ratio 2.46 1.98 1.47
Net debt to EBITDA 5.68 4.33 5.88

Dividend

Metric AAT VICI Reit Diversified median
Dividend yield 6.57% 5.42% 7.13%
Payout ratio 1.55 0.70 1.37

Size

Metric AAT VICI Reit Diversified median
Market cap 1.32b 25.75b 729.58m

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