VICI Properties (VICI)
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
VICI Properties (VICI) trades at $27.18 with AI Score 97/100 (Grade A+). VICI Properties Inc. is a leading real estate investment trust (REIT) specializing in experiential properties, particularly in the gaming and hospitality sectors. Market cap: 30B, Sector: Real estate.
Price live · AI analysis from May 10, 2026VICI stock analysis for 2026: Analysts have set a consensus price target of $31.50 for VICI Properties, suggesting 15.9% upside from the current price of $27.18. The AI MoonshotScore is 97/100, indicating a strong bullish outlook. Key factors: analyst coverage, AI-driven quantitative scoring.
VICI: 7/8 perspectives are bullish. Dominant signal: Seth Klarman bullish.
How is this calculated? →VICI Properties (VICI) Real Estate Portfolio & Strategy
VICI Properties Inc. stands out in the REIT sector with its extensive portfolio of premier gaming and hospitality venues, including Caesars Palace, positioning itself as a leader in experiential real estate investment.
What Is the Investment Thesis for VICI?
VICI Properties Inc. presents a compelling investment thesis driven by its robust portfolio of high-quality experiential properties and strategic partnerships with leading gaming operators. The company boasts a market capitalization of 30B and a strong profit margin of 76.7%, indicating efficient operations and profitability. With a P/E ratio of 9.4, VICI is positioned favorably compared to industry peers, suggesting potential for value appreciation. The ongoing expansion of the gaming and hospitality sectors, particularly in Las Vegas, provides significant growth catalysts, as consumer spending on leisure activities continues to rise. Additionally, VICI's dividend yield of 6.18% offers an attractive income stream for investors. However, potential risks include regulatory changes in the gaming industry and economic downturns that could impact consumer spending. Overall, VICI's strategic asset management and market positioning provide a solid foundation for sustained growth.
Based on FMP financials and quantitative analysis
VICI Key Highlights
- Market capitalization of 30B reflects strong investor confidence and growth potential.
- P/E ratio of 9.4 indicates favorable valuation compared to industry averages.
- Profit margin of 76.7% demonstrates operational efficiency and profitability.
- Gross margin of 99.2% highlights the company's ability to maintain high revenue relative to costs.
- Dividend yield of 6.18% provides a strong income return for investors.
Who Are VICI's Competitors?
VICI is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| IRM Iron Mountain Incorporated | $117.16 | -3.89% | $34.86B | 62 |
| CCI Crown Castle Inc. | $76.60 | +0.09% | $33.43B | 52 |
| EXR Extra Space Storage Inc. | $149.29 | +1.36% | $31.54B | 62 |
| AVB AvalonBay Communities, Inc. | $193.96 | +1.85% | $27.52B | 76 |
| EQR Equity Residential | $69.83 | +1.75% | $26.16B | 71 |
| LNSPF LondonMetric Property Plc | $2.45 | +0.00% | $5.72B | 63 |
| EPRT Essential Properties Realty Trust, Inc. | $31.18 | +3.90% | $6.74B | 61 |
| AAT American Assets Trust, Inc. | $25.51 | +1.15% | $1.57B | 59 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are VICI's Key Strengths?
- Diverse portfolio of high-quality experiential properties.
- Strong relationships with leading gaming and hospitality operators.
- High profit margins and operational efficiency.
What Are VICI's Weaknesses?
- Limited geographical diversification outside of core markets.
- Dependence on the gaming and hospitality sectors for revenue.
What Could Drive VICI Stock Higher?
- Continued expansion of the gaming and hospitality sectors, particularly in Las Vegas, which is expected to drive higher occupancy rates and revenue growth.
- Strategic partnerships with industry leaders like Caesars Entertainment and Hard Rock International that enhance revenue stability.
- Development of new experiential properties to meet growing consumer demand for unique entertainment experiences.
What Are the Key Risks for VICI?
- Regulatory changes in the gaming industry that could impact property operations and revenue.
- Economic downturns that may affect consumer spending on leisure and entertainment activities.
- Increased competition in the gaming and hospitality sectors that could pressure margins.
What Are the Growth Opportunities for VICI?
- Expansion of gaming facilities: The gaming industry is projected to grow significantly, with estimates suggesting a market size of $500 billion by 2027. VICI Properties can leverage this growth by acquiring additional gaming facilities and expanding its existing properties, particularly in high-demand areas like Las Vegas, which remains a global entertainment hub.
- Development of experiential properties: As consumer preferences shift towards unique and immersive experiences, VICI has the opportunity to develop new properties that cater to this demand. This could include innovative entertainment venues and themed resorts that enhance the overall guest experience, driving higher occupancy rates and revenue.
- Partnerships with leading operators: VICI's strategy of leasing properties to established gaming and hospitality operators positions it to benefit from their brand strength and operational expertise. Continued partnerships with industry leaders like Caesars Entertainment and Hard Rock International can enhance revenue stability and growth potential.
- Sustainability initiatives: With increasing consumer awareness around sustainability, VICI can invest in green building practices and energy-efficient technologies within its properties. This not only aligns with market trends but can also reduce operational costs and attract environmentally conscious consumers.
- Utilization of undeveloped land: VICI owns 34 acres of undeveloped land adjacent to the Las Vegas Strip, presenting a significant opportunity for future development. This land can be used for new entertainment venues, hotels, or other hospitality-related projects, potentially increasing the company's asset value and revenue streams.
What Opportunities Does VICI Have?
- Expansion into new markets and development of additional properties.
- Growing demand for experiential entertainment and leisure activities.
What Threats Does VICI Face?
- Regulatory changes in the gaming industry that could impact operations.
- Economic downturns affecting consumer spending on leisure activities.
What Are VICI's Competitive Advantages?
- Strong portfolio of iconic properties, including Caesars Palace, providing brand recognition.
- Long-term leases with established operators ensure stable revenue streams.
- Strategic location of properties in high-demand areas like Las Vegas enhances attractiveness.
- Expertise in managing experiential real estate assets differentiates VICI from competitors.
What Does VICI Do?
VICI Properties Inc. was founded as an experiential real estate investment trust (REIT) focused on acquiring and managing properties that offer unique entertainment experiences. Over the years, VICI has established one of the largest portfolios in the gaming and hospitality sectors, owning 29 gaming facilities that encompass over 48 million square feet. This impressive portfolio features approximately 19,200 hotel rooms and more than 200 restaurants, bars, and nightclubs, making it a key player in the leisure industry. The company’s properties are leased to some of the most recognized names in gaming and hospitality, including Caesars Entertainment, Inc., Century Casinos Inc., and Hard Rock International. In addition to its gaming facilities, VICI Properties owns four championship golf courses and 34 acres of undeveloped land adjacent to the Las Vegas Strip, which enhances its strategic positioning. The company’s mission is to create the highest quality and most productive experiential real estate portfolio in the nation, leveraging its diverse assets to generate significant revenue and deliver value to its stakeholders. VICI Properties has capitalized on the growing demand for experiential entertainment, positioning itself as a vital component of the evolving landscape in the real estate sector.
What Products and Services Does VICI Offer?
- Own and manage a diverse portfolio of gaming, hospitality, and entertainment properties.
- Lease properties to leading operators in the gaming and hospitality sectors.
- Develop and maintain high-quality experiential real estate assets.
- Invest in championship golf courses and undeveloped land for future development.
- Focus on creating unique and immersive experiences for guests.
How Does VICI Make Money?
- Generate revenue through long-term leases with gaming and hospitality operators.
- Capitalize on high occupancy rates and consumer spending in the leisure sector.
- Leverage strategic partnerships with industry leaders to enhance property value.
- Invest in property development and maintenance to increase asset value.
What Industry Does VICI Operate In?
The real estate investment trust (REIT) sector, particularly in diversified and experiential properties, is experiencing significant growth, driven by increasing consumer demand for leisure and entertainment experiences. The global gaming market is projected to reach $500 billion by 2027, with substantial contributions from hospitality and entertainment sectors. VICI Properties, with its extensive portfolio and strategic focus on high-quality experiential assets, is well-positioned to capitalize on these trends. The competitive landscape includes other major players like Iron Mountain Incorporated (IRM), Crown Castle Inc. (CCI), and Equity Residential (EQR), but VICI's unique focus on gaming and entertainment sets it apart.
Who Are VICI's Key Customers?
- Gaming and hospitality operators leasing properties from VICI.
- Consumers seeking entertainment and leisure experiences at VICI-owned venues.
- Investors looking for income-generating real estate investments.
Net buyingInsider Activity
Over the past six months, VICI Properties insiders filed 15 SEC Form 4 transactions — 1 sales and 14 purchases. On net that is roughly 29K shares acquired (about $0) — insiders putting money in tends to read as conviction.
Quarterly Financial Performance: VICI Properties
Revenue for VICI Properties came in at $1.02B during Q1 2026. The company recorded net income of $872.4M, with diluted EPS of $0.82. Quarter-over-quarter revenue has been mixed, typical for a large-cap company operating in Real Estate. Across the four most recent quarters, VICI averaged $0.73 in diluted EPS.
VICI Valuation & Market Position
With a 30B market cap, VICI Properties sits in the large-cap segment of the market. Relative to its peer group, VICI's quantitative score of 97/100 is above the peer average of 65/100.
ROE 11%Key Financial Metrics
Return on equity for VICI Properties stands at 11.2%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is 6.6%, showing how much profit it generates from its asset base. VICI trades at a trailing price-to-earnings ratio of 9.36, below the Real Estate sector average of ~20x. Its free cash flow yield is 8.7%, a gauge of the cash the business throws off relative to its market value. A current ratio of 33.27 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is 10.7%, the inverse of the P/E and a quick read on earnings relative to price.
F-Score 6/9Financial Health
VICI Properties's Piotroski F-Score is 6/9, a 9-point checklist of profitability, leverage and efficiency — a middling fundamental profile. Its Altman Z-Score of 1.95 places it in the grey zone, a middle ground that warrants monitoring.
5/8 beatsEarnings Track Record
VICI Properties has beaten Wall Street's EPS estimate in 5 of its last 8 reported quarters — more hits than misses. Reported results have landed about 4.8% above estimates on average.
FY2026 estForward Outlook
Wall Street analysts project VICI Properties revenue of about $4.17B for fiscal 2026, with EPS near $2.94. The estimate reflects 8 contributing analysts.
Company Profile
VICI Properties operates in the REIT - Specialty industry within the Real Estate sector. It is headquartered in New York City, US. The company is led by CEO Edward Baltazar Pitoniak. VICI has traded publicly since 2018.
VICI Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2025
Bull Case vs Bear Case
Bull Case
- Recent insider buying suggests confidence in VICI's long-term growth potential, indicating that executives believe in the company's future.
- Community sentiment has turned increasingly positive, with discussions highlighting VICI's strong lease agreements and steady cash flow.
- Investors are optimistic about the ongoing recovery in the hospitality sector, which could benefit VICI's properties.
- Analysts note VICI's strategic acquisitions have positioned it well in the gaming and entertainment real estate market, enhancing its portfolio.
Bear Case
- Some investors express concerns over rising interest rates, which could impact real estate investment trusts like VICI.
- There is a growing skepticism about the long-term sustainability of consumer spending in the hospitality sector, which may affect occupancy rates.
- Recent discussions in trading communities indicate worries about potential regulatory changes that could impact VICI's operations.
- Market perception is cautious, with some analysts questioning whether VICI's current valuation accurately reflects future growth prospects.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · April 2026
From the Earnings Call
“We are raising AFFO guidance for 2026 in both absolute dollars as well as on a per share basis. AFFO for the year ending December 31, 2026, is expected to be between $2.665 billion and $2.695 billion or between $2.44 and $2.47 per diluted common share.”
— David Kieske, Chief Financial Officer
“We are focused on maintaining our ability to continue to grow our dividend, which we have done every single year since we went public in 2018, posting a peer-leading 8-year dividend growth CAGR of 7% and intend to continue to protect the sanctity of the dividend as we strive to continue to grow the business, both organically and externally.”
— David Kieske, Chief Financial Officer
VICI Q1 FY2026 earnings call transcript · 2026-04-30
Recent Quarterly Results
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q1 2026 | $1.02B | $872M | $0.82 |
| Q4 2025 | $1.01B | $605M | $0.57 |
| Q3 2025 | $1.02B | $762M | $0.71 |
| Q2 2025 | $1.00B | $865M | $0.82 |
Based on FMP financials and quantitative analysis
VICI Latest News
-
4 Reasons to Add VICI Properties Stock to Your Portfolio Now
zacks.com · Jul 3, 2026
-
VICI Properties: Investment-Grade 6.8% Yield At A 5-Year Low
seekingalpha.com · Jul 3, 2026
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Bargain Hunters: These 3 High-Yielding Stocks Recently Hit New 52-Week Lows
fool.com · Jun 30, 2026
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VICI Properties: Investors Are Misunderstanding A Historic Opportunity
seekingalpha.com · Jun 23, 2026
VICI Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for VICI.
Price Targets
Consensus target: $31.50
VICI MoonshotScore
What does this score mean?
The MoonshotScore rates VICI's growth potential on a scale of 0-100 across multiple factors including innovation, market disruption, financial health, and momentum.
Latest News
4 Reasons to Add VICI Properties Stock to Your Portfolio Now
VICI Properties: Investment-Grade 6.8% Yield At A 5-Year Low
Bargain Hunters: These 3 High-Yielding Stocks Recently Hit New 52-Week Lows
VICI Properties: Investors Are Misunderstanding A Historic Opportunity
Latest VICI Properties Analysis
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2 min readLeadership: Edward Baltazar Pitoniak
CEO
Edward Baltazar Pitoniak has extensive experience in the real estate and hospitality sectors, having held various leadership roles throughout his career. He has a strong background in managing large-scale real estate portfolios and has been instrumental in driving strategic growth initiatives. Pitoniak holds a degree in Business Administration and has a proven track record of success in enhancing operational efficiency and profitability.
Track Record: Under Pitoniak's leadership, VICI Properties has significantly expanded its portfolio and established itself as a leader in the experiential real estate sector. His strategic decisions have focused on acquiring high-quality properties and forming long-term partnerships with top gaming operators.
What Investors Ask About VICI Properties (VICI) — Real Estate
What does VICI Properties Inc. do?
VICI Properties Inc. is a real estate investment trust (REIT) that specializes in owning and managing a diverse portfolio of gaming, hospitality, and entertainment properties. The company leases its properties to leading operators in the gaming sector, including Caesars Entertainment and Hard Rock International, generating stable rental income. VICI's portfolio includes iconic venues like Caesars Palace and encompasses over 48 million square feet of space, making it a significant player in the experiential real estate market.
What do analysts say about VICI stock?
Analysts generally view VICI Properties Inc. favorably due to its strong market position and solid financial metrics. The company's P/E ratio of 9.4 suggests it is attractively valued compared to industry peers. Analysts highlight the potential for revenue growth driven by the expanding gaming and hospitality sectors, as well as VICI's impressive profit margin of 76.7%. Overall, the consensus indicates that VICI is well-positioned for future growth in the experiential real estate market.
What are the main risks for VICI?
VICI Properties Inc. faces several risks that could impact its performance. One significant risk is regulatory changes in the gaming industry, which could affect the operations and profitability of its leased properties. Additionally, economic downturns may lead to reduced consumer spending on leisure and entertainment, directly impacting VICI's revenue. Finally, increased competition within the gaming and hospitality sectors poses a threat to maintaining market share and profit margins.
What are the key factors to evaluate for VICI?
VICI Properties (VICI) holds an AI score of 97/100 (high). P/E: 9.4x vs the S&P 500's ~20-25x. Analysts target $31.50 (+16%). Not financial advice.
How frequently does VICI data refresh on this page?
VICI prices update in real time during U.S. market hours. Fundamentals refresh after quarterly filings; analyst ratings and AI insights update daily; news is aggregated continuously.
What has driven VICI's recent stock price performance?
VICI Properties (VICI) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: Diverse portfolio of high-quality experiential properties. See the News tab for the latest drivers. Past performance does not predict future results.
Should investors consider VICI overvalued or undervalued right now?
VICI Properties (VICI) trades at 9.4x earnings. Analysts target $31.50 (+16%) — upside seen. Compare P/E, P/S, and EV/EBITDA against sector peers for a full view.
What research should beginners do before buying VICI?
Before investing in VICI Properties (VICI), research these four areas: (1) the company's revenue model and competitive position (see Company Overview), (2) financial health through revenue growth, margins, and cash flow (see MoonshotScore), (3) what Wall Street analysts recommend and their price targets (see Analyst tab), and (4) specific risk factors that could impact the stock (see Risk Factors section).
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- Data is based on the latest available financial reports and market analysis.