VICI Properties Inc

VICI Properties Inc

VICI

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Market Cap$28.3B
Close$

Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
VICI Properties IncVICI Properties Inc96.85%11%8.7-

Earnings Call Q1 2026

April 30, 2026 - AI Summary

Strong Q1 operating momentum + efficient per-share growth - AFFO per share up 4.5% YoY while share count increased only ~1% (efficient growth). - Management highlights the engine: ~$650m of annual free cash flow supports incremental investments without needing to dilute. - AFFO payout ratio ~75%—management frames this as sustainable support for dividend growth.
2026 guidance raised (key forecast figures) - AFFO (FY 2026) raised to $2.665B–$2.695B, or $2.44–$2.47 per diluted share. - Company reiterates the guidance is excluding impacts from acquisitions/dispositions without announced expected closing dates, possible future deals, and other nonrecurring/capital markets items.
Capital deployment + deal activity accelerates (and includes some surprises) - ~$1.2B new capital commitments in Q1—noted as historically rare: first consecutive quarters with > $1B sequential commitments (Q4 2025 and Q1 2026). - Major items: - Cain/Eldridge expansion: $1.5B mezzanine loan for One Beverly Hills; $1.05B incremental beyond prior $450m. Vertical starts fall 2025; phased delivery starts 2028. - International gaming real estate: pending $144m acquisition in Alberta, Canada at an 8% cap rate tied to Pure Casino Entertainment’s take-private of Gamehost (reinforces tenant growth → monetization pathway). - Golden transaction: regulatory/shareholder approvals met; closing expected “today” (and prior forward equity settlements occurred). - Clairvest/Northfield Park lease added: 14th tenant post-quarter-end; no change to total rent collected by VICI.

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$32.00

Target Price by Analysts

22.7% upsideVICI Properties Target Price DetailsTarget Price
$73.05

Current Fair Value

180% upside

Undervalued by 180% based on the discounted cash flow analysis.

Share Statistics

Market cap$28.30 Billion
Enterprise Value$27.99 Billion
Dividend Yield$1.80 (6.85%)
Earnings per Share$2.61
Beta0.68
Outstanding Shares1,068,399,427

Return

Return on Equity11.01%ROE
Return on Assets6.59%
Return on Invested Capital4.06%

Valuation & Multiples

P/E Ratio9.04P/E Ratio
PEG14.95PEG
Price to Sales8.7Price to Sales
Price to Book Ratio1.0Price to Book Ratio
Enterprise Value to Revenue6.93
Enterprise Value to EBIT14.68
Enterprise Value to Net Income9
Total Debt to Enterprise0.01
Debt to Equity0.01Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
May 6, 2026
EPS Estimate
$0.71
Average shareholder expectation
Revenue Estimate
$1.01 B
Average shareholder expectation

Next Earnings Call

Expected Date
July 29, 2026
EPS Estimate
$0.71
Average shareholder expectation
Revenue Estimate
$1.04 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio0.8040 24.77%
Total Calls1,726,900 27.72%
Total Puts1,388,500 2.36%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %96.84% 1.32%
Total Invested$28.15B 4.71%
Investors Holding959 1.00%

ESG Score

No data

About VICI Properties Inc

CEO: Edward Pitoniak

Relevant Senate Committees

Joint Committee on Taxation

This committee provides critical analysis and official revenue estimates for all tax legislation, working directly with the tax-writing committees. Any changes to corporate tax structures, REIT tax treatment, or capital investment credits, which this committee scores, would have a direct and material impact on VICI's business model and financial performance.

Finance

As the primary tax-writing committee, the Finance Committee's decisions on corporate tax policy, REIT-specific tax treatment, and broader economic policies directly affect VICI's profitability, valuation, and business structure. Its influence on entitlement spending also impacts the broader economy and discretionary consumer spending, which is crucial for VICI's entertainment-focused tenants.

Banking, Housing, and Urban Affairs

This committee directly regulates the financial system, including the SEC, and influences housing and urban development policy. As a publicly traded REIT focused on real estate, VICI is directly impacted by these regulations, banking capital requirements, and real estate market policies.