American Assets Trust Inc (AAT)vsVICI Properties Inc (VICI)
AAT
American Assets Trust Inc
$20.58
-0.96%
REAL ESTATE · Cap: $1.61B
VICI
VICI Properties Inc
$28.58
-2.12%
REAL ESTATE · Cap: $30.77B
Smart Verdict
WallStSmart Research — data-driven comparison
VICI Properties Inc generates 831% more annual revenue ($4.04B vs $433.85M). VICI leads profitability with a 76.8% profit margin vs 4.2%. VICI trades at a lower P/E of 9.8x. VICI earns a higher WallStSmart Score of 66/100 (B-).
AAT
Hold44
out of 100
Grade: D
VICI
Strong Buy66
out of 100
Grade: B-
Intrinsic Value Comparison
Multi-model valuation · Graham Formula
Margin of Safety
+59.1%
Fair Value
$45.19
Current Price
$20.58
$24.61 discount
Margin of Safety
+49.2%
Fair Value
$57.45
Current Price
$28.58
$28.87 discount
Key Strengths & Concerns
Side-by-side fundamental analysis
Key Strengths
Reasonable price relative to book value
Strong operational efficiency at 23.4%
Attractively priced relative to earnings
Reasonable price relative to book value
Keeps 77 of every $100 in revenue as profit
Strong operational efficiency at 107.5%
Earnings expanding 60.1% YoY
Areas to Watch
2.8% revenue growth
Smaller company, higher risk/reward
ROE of 2.2% — below average capital efficiency
4.2% margin — thin
3.5% revenue growth
Distress zone — elevated risk
Weak financial health signals
Comparative Analysis Report
WallStSmart ResearchBull Case : AAT
The strongest argument for AAT centers on Price/Book, Operating Margin.
Bull Case : VICI
The strongest argument for VICI centers on P/E Ratio, Price/Book, Profit Margin. Profitability is solid with margins at 76.8% and operating margin at 107.5%.
Bear Case : AAT
The primary concerns for AAT are Revenue Growth, Market Cap, Return on Equity. A P/E of 69.3x leaves little room for execution misses. Thin 4.2% margins leave little buffer for downturns.
Bear Case : VICI
The primary concerns for VICI are Revenue Growth, Altman Z-Score, Piotroski F-Score.
Key Dynamics to Monitor
AAT carries more volatility with a beta of 0.95 — expect wider price swings.
VICI is growing revenue faster at 3.5% — sustainability is the question.
VICI generates stronger free cash flow (631M), providing more financial flexibility.
Monitor REIT - DIVERSIFIED industry trends, competitive dynamics, and regulatory changes.
Bottom Line
VICI scores higher overall (66/100 vs 44/100), backed by strong 76.8% margins. AAT offers better value entry with a 59.1% margin of safety. Both earn "Strong Buy" and "Hold" ratings respectively — the choice depends on your investment horizon and risk tolerance.
This analysis is generated from publicly available financial data. Not financial advice.
American Assets Trust Inc
REAL ESTATE · REIT - DIVERSIFIED · USA
American Assets Trust, Inc. is a self-managed, vertically integrated, full-service real estate investment trust, or REIT, based in San Diego, California.
VICI Properties Inc
REAL ESTATE · REIT - DIVERSIFIED · USA
VICI Properties is an experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality and entertainment destinations, including the world-renowned Caesars Palace.
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