Financial Performance
5Y price score: (26)
The price score is a basic measure of the stock's performance against the S&P 500 Index over a five-year period.
A score of 100 indicates that the stock did as well as the S&P 500 Index.
A score below 100 means the stock underperformed the index, while a score above 100 means it outperformed the S&P 500.
10Y return: 92.6%
%
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22.4
52-week range
30.8
Your model inputs
Your fair value & Margin of safety
To calculate fair value based on cost of capital and terminal growth assumptions above, please select free cash flow forecast.
Forecast:
Valuation
Free Cash Flow Yield
10.3 %
Dividend Yield TTM
7.4 %
Market cap $
$ 26,806
Price / Earnings TTM
11.2
Price / Book TTM
0.9
PEG TTM
5.7
Earnings growth and return
LTM
5YR
10YR
Total return (price & dividends)
(12.1) %
10 %
92.5 %
Free cash flow per share growth
7.4 %
36.9 %
40,650.1 %
Earnings per share growth
(56.3) %
49.1 %
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Founded: 2,017
Employees: 27
Business Summary:
Q&A
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Latest Earnings Call Takeaways
2026 Q3 (Oct 29, 2026)
1) Financial Performance Overview
- VICI Properties reported a 5.8% increase in revenues for Q3 2026, with AFFO per share rising by 4.3% to $0.62 compared to $0.60 in Q3 2025.
- The company deployed $221 million in capital for income-generating activities during the quarter.
- A dividend of $0.46 per share was declared, marking a 2.2% year-over-year increase and representing the ninth consecutive year of dividend growth.
- Total debt stands at $17.2 billion, with a net debt to annualized adjusted EBITDA ratio of approximately 4.8x, below the target range of 5x-5.5x.
2) Strategic Initiatives and Portfolio Management
- VICI added four new tenants in 2026, including Highfield Investment Group and Club Med, enhancing tenant diversification and stability.
- The company is actively exploring various capital sources, including retained cash flow, loan repayments, and potential asset sales, to support growth and shareholder value.
- A $2 billion stock buyback authorization was announced, allowing flexibility in capital allocation, although it will be used opportunistically based on market conditions.
3) Challenges and Market Conditions
- VICI's share price performance has been disappointing, attributed to broader negativity around net lease REITs due to current interest rate environments and consumer spending concerns.
- Specific challenges include uncertainties surrounding the Caesars regional lease, which are being analyzed to determine the best course of action for maximizing shareholder value.
- The company is navigating a cautious capital market, focusing on selective and disciplined investment opportunities.
4) Operational Outlook and Future Growth
- The management team remains optimistic about the underlying demand for their properties, particularly in the gaming sector, with Las Vegas Strip gaming revenue showing modest growth.
- VICI is maintaining an active dialogue with operators across various sectors, including gaming and hospitality, to identify strategic opportunities.
- The company is also considering potential involvement in greenfield projects and partnerships in the evolving sports ecosystem, while remaining cautious and selective.
5) Guidance and Future Expectations
- VICI raised its 2026 AFFO guidance to a range of $2.695 billion to $2.705 billion, or $2.47 to $2.48 per diluted share, reflecting a 4% year-over-year growth.
- The guidance does not include impacts from any pending acquisitions or dispositions.
- The call lacked detailed insights on specific timelines for resolving issues related to the Caesars lease and the potential outcomes of ongoing negotiations.
Bottom line: VICI Properties is navigating a challenging market environment while focusing on strategic growth through tenant diversification and disciplined capital management. With a solid financial performance and a proactive approach to potential buybacks and investments, the company aims to enhance shareholder value despite current headwinds.
Annual Reports, Presentations And IR Contacts
Go to the websiteVici Properties — Financial Overview, Stock Price, Market Cap
Vici Properties is a company. Founded in 2017. As of October 30, 2026, the company's market capitalization is $26805733247 with a current stock price of $24.34.