VICI Properties (VICI) Stock Overview
An S&P 500 experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality, wellness, entertainment and leisure destinations, including Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las Vegas, three of the most iconic entertainment facilities on the Las Vegas Strip. More details
| Snowflake Score | |
|---|---|
| Valuation | 5/6 |
| Future Growth | 1/6 |
| Past Performance | 3/6 |
| Financial Health | 4/6 |
| Dividends | 4/6 |
VICI Community Fair Values
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Analyst Price Targets
VICI Properties Inc. Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$28.60 |
| 52 Week High | US$34.01 |
| 52 Week Low | US$26.55 |
| Beta | 0.73 |
| 1 Month Change | 5.50% |
| 3 Month Change | 1.74% |
| 1 Year Change | -10.68% |
| 3 Year Change | -10.96% |
| 5 Year Change | -8.36% |
| Change since IPO | 54.59% |
Recent News & Updates
VICI: Future Upside Hinges On Caesars Lease Outcomes And New Partnerships
Analysts nudged the fair value estimate for VICI Properties slightly lower to about $34.30, reflecting a modestly higher discount rate, updated expectations for revenue growth and margins, and mixed Street price target moves ranging from $30 to $34, tied to tenant risk and investment opportunities. Analyst Commentary Recent research on VICI Properties reflects a mixed but active debate, with modest price target moves on both sides and several firms reassessing the balance between tenant risk, growth opportunities, and current valuation.VICI Properties: Battered Casino Cash Cow Poised For A Strong Rebound
Apr 21VICI: Future Returns Will Depend On Caesars Lease And New Partnerships
Analysts have kept fair value estimates steady while trimming the average 12 month price target for VICI Properties to reflect mixed views on tenant credit risk around Caesars, slower investment activity, and updated models following recent results, partly offset by new partnership deals and potential benefits if interest rates remain lower or stable. Analyst Commentary Recent research on VICI Properties reflects a split view, with some analysts focusing on new partnerships and steady fundamentals, while others are more cautious on tenant risk, valuation, and the implications of potential corporate activity at Caesars Entertainment.VICI: Future Upside Will Rely On Caesars Lease And New Partnerships
Analysts have adjusted their blended price target for VICI Properties to $34, reflecting mixed moves that range from Mizuho's $30 downgrade, tied to tenant and leverage concerns, to revised targets of $32 to $34, where firms point to updated models, new partnerships, and questions around Caesars related lease risk. Analyst Commentary Recent research on VICI Properties highlights a mix of constructive and cautious views, with attention centered on tenant concentration, lease terms with Caesars, new investment activity, and how these factors line up against the current valuation.Recent updates
VICI: Future Upside Hinges On Caesars Lease Outcomes And New Partnerships
Analysts nudged the fair value estimate for VICI Properties slightly lower to about $34.30, reflecting a modestly higher discount rate, updated expectations for revenue growth and margins, and mixed Street price target moves ranging from $30 to $34, tied to tenant risk and investment opportunities. Analyst Commentary Recent research on VICI Properties reflects a mixed but active debate, with modest price target moves on both sides and several firms reassessing the balance between tenant risk, growth opportunities, and current valuation.VICI Properties: Battered Casino Cash Cow Poised For A Strong Rebound
Apr 21VICI: Future Returns Will Depend On Caesars Lease And New Partnerships
Analysts have kept fair value estimates steady while trimming the average 12 month price target for VICI Properties to reflect mixed views on tenant credit risk around Caesars, slower investment activity, and updated models following recent results, partly offset by new partnership deals and potential benefits if interest rates remain lower or stable. Analyst Commentary Recent research on VICI Properties reflects a split view, with some analysts focusing on new partnerships and steady fundamentals, while others are more cautious on tenant risk, valuation, and the implications of potential corporate activity at Caesars Entertainment.VICI: Future Upside Will Rely On Caesars Lease And New Partnerships
Analysts have adjusted their blended price target for VICI Properties to $34, reflecting mixed moves that range from Mizuho's $30 downgrade, tied to tenant and leverage concerns, to revised targets of $32 to $34, where firms point to updated models, new partnerships, and questions around Caesars related lease risk. Analyst Commentary Recent research on VICI Properties highlights a mix of constructive and cautious views, with attention centered on tenant concentration, lease terms with Caesars, new investment activity, and how these factors line up against the current valuation.VICI: Future Upside Will Rely On Executing New Partnership Opportunities
The analyst fair value estimate for VICI Properties has been adjusted slightly lower to $34.78 per share, reflecting recent reductions in Street price targets to around $32 to $34 and a more measured outlook from analysts who highlight valuation, slower investment activity and ongoing rent coverage questions, even as new partnerships and a modestly lower discount rate support the longer term case. Analyst Commentary Bullish and bearish analysts are fairly aligned on VICI Properties current valuation range, but they highlight different aspects of execution and growth that matter if you are looking at the stock today.VICI: Future Upside Will Depend On Executing Against Refreshed Sector Perform Assumptions
Analysts have slightly reduced their price target on VICI Properties to $35.13. This reflects updated views on discount rate assumptions, long term revenue growth, profit margin expectations, and future P/E levels following recent downgrades to Sector Perform.VICI: Future Upside Will Depend On Caesars Regional Lease Stability
Analysts have trimmed their average price target on VICI Properties slightly, reflecting updated assumptions for fair value at about $35.13 and a marginally higher discount rate. Recent downgrades citing limited gaming investment opportunities and concerns around the Caesars regional lease help explain the more cautious stance.VICI: Future Upside Will Hinge On Caesars Regional Lease Resilience
Narrative update The updated analyst price target for VICI Properties reflects a slight lift in fair value to about $35.39 per share, as analysts weigh muted new gaming investment opportunities and recent target trims, including cuts to US$32 and US$35, against still stable assumptions for the discount rate, revenue growth, profit margin, and future P/E. Analyst Commentary Recent research updates on VICI Properties highlight a mix of confidence in the overall story and caution around specific leases and growth avenues.VICI: Future Upside Will Depend On Caesars Regional Lease Terms
Analysts have trimmed their consolidated price targets for VICI Properties, with the average implied fair value easing slightly to about $35 as they factor in more cautious assumptions around Caesars lease terms, muted fee simple gaming investments, and updated net lease models across the group. Analyst Commentary Bullish Takeaways Bullish analysts still see upside to current trading levels, with targets around $35 to $37.VICI: Future Returns Will Hinge On Caesars Regional Lease Resilience
The analyst price target for VICI Properties has been modestly reduced by about $0.25 per share, as analysts factor in slightly higher discounting, muted new gaming investment opportunities, and potential rent pressure on key regional leases despite stable margins and revenue growth expectations. Analyst Commentary Recent research updates present a mixed but generally constructive view on VICI Properties, with modest target changes reflecting evolving expectations for regional gaming fundamentals, lease durability, and the company’s ability to deploy capital into attractive net lease opportunities.VICI: Future Returns Will Depend On Caesars Regional Rent Negotiations
Analysts have modestly reduced their fair value estimate for VICI Properties to about $35.73 from $36.09. This reflects a slightly higher perceived risk profile, tempered long term growth expectations in regional gaming, and concerns around potential rent pressure on key leases.VICI: Future Performance Will Hinge On Caesars Lease Outcomes
Narrative Update on VICI Properties Analyst Price Target The analyst price target for VICI Properties has been reduced by approximately $0.82 to $36.09. Analysts cite muted investment opportunities and renewed concerns over key regional leases as drivers for the more cautious outlook.Rising US Experiential Demand Will Unlock Long-Term Value
The average analyst price target for VICI Properties has edged up from $36.73 to $36.91, as analysts cite updated financial models, expectations for steady revenue growth, improved profit margins, and the resilience of net lease REITs in upcoming quarters. Analyst Commentary Recent research updates reflect a generally optimistic view of VICI Properties, as a series of analysts have raised their price targets and reiterated positive ratings.VICI Properties: Worth A Bet, But Not [Yet] For Me. I'll Explain Why
Apr 17VICI Properties: Investors Are Misunderstanding The Earnings Report
Mar 25VICI Properties: Don't Let The Earnings Miss Overshadow Solid Growth
Mar 04VICI Properties: A Quasi-Monopoly With High Return Potential
Feb 25VICI: Why Gamble At The Casino When It Can Pay You 5.7%
Feb 17VICI Properties: Don't Miss The Boat (Again)
Jan 16VICI Properties: Great Time To Double Down On This Bargain
Jan 07VICI Properties: Don't Pass Up This Buying Opportunity Now
Jan 01Buy The Dip Opportunities: VICI Properties Vs Gaming And Leisure Properties
Dec 20VICI Properties: Why I Am Selling This Dividend Darling
Dec 10VICI Properties: Higher Interest Rates Aren't The Only Reason For Underperformance
Dec 03VICI Properties: The House Always Wins - Own The Casino Not The Business
Nov 01VICI Properties: Ready To Rip Higher As The Fed Shifts Lower
Oct 01VICI Properties: Raised AFFO Guidance Implies Robust Dividend Hike Ahead
Sep 01VICI Properties: Still A Good Bet
Aug 21VICI Properties: Dividend And Upside Potential Still Make It A Buy
Aug 04VICI Properties: I Am Getting A 5.4% Yield On My Last Buy
Jul 22VICI Properties: The Casino REIT Bubble Has Burst, It's Time To Buy (Upgrade)
Jul 12VICI Properties: Undervalued Stock With Solid Dividend Growth Outlook
Jul 02VICI Properties: The 'Experience' Of A Lifetime
Jun 15VICI Properties: Not A Gamble To Buy This
Jun 03VICI Properties: In-Line Results, Investors Should Understand What They're In For
May 03VICI Properties: Now Is The Time To Buy This 6%-Yielding REIT
Apr 17VICI Properties: Strong Growth Necessitates A Bullish Outlook
Apr 11VICI Properties: This 6% Passive Income Play Is A No-Brainer
Apr 02VICI Properties: Strong Quant Rating Supported By Portfolio Growth
Mar 21I'm Betting Big On VICI Properties
Mar 12VICI Properties: A Wide Margin Of Safety At The Current Price
Mar 01VICI Properties: Start Winning With This Gaming Property REIT
Feb 23VICI Properties: Trading At A Great Value With Promising Long-Term Potential
Jan 31VICI Properties: Reviewing My Position
Jan 06VICI Properties: Bowling Its Way Into A Diversified REIT
Dec 09Why 6%-Yielding VICI Properties Is A Great REIT For Income And Growth
Nov 24VICI Properties: Possible Double Digit Return With High Starting Dividend
Oct 24Time To 'Bet Big' On 6% Yielding VICI Properties
Oct 13VICI Properties: I Pity Anyone Not Buying This REIT (Rating Upgrade)
Oct 05VICI Properties: A Highly Profitable Gaming REIT With Discounted Valuations
Sep 22VICI Properties: Perfect Income Investment For Your Retirement
Sep 13VICI: The Potentially Huge Asset Hiding In Plain Sight
Aug 30VICI Properties: A REIT Powerhouse In The Entertainment Space
Aug 21VICI Properties: Remains A Buy After The Guidance Upgrade
Jul 27VICI Properties: Not Many REITs Have Such A Wide Moat
Jul 03VICI Properties: Bet On Casinos, Not In Them
Jun 02VICI Properties: Why Bet In Vegas When You Can Own VICI
Feb 26VICI Properties: Don't Miss This 4.5% Dividend Yield
Feb 08Shareholder Returns
| VICI | US Specialized REITs | US Market | |
|---|---|---|---|
| 7D | 1.4% | -1.2% | -0.2% |
| 1Y | -10.7% | 2.3% | 27.6% |
Return vs Industry: VICI underperformed the US Specialized REITs industry which returned 2.3% over the past year.
Return vs Market: VICI underperformed the US Market which returned 27.6% over the past year.
Price Volatility
| VICI volatility | |
|---|---|
| VICI Average Weekly Movement | 2.6% |
| Specialized REITs Industry Average Movement | 3.7% |
| Market Average Movement | 7.2% |
| 10% most volatile stocks in US Market | 16.2% |
| 10% least volatile stocks in US Market | 3.3% |
Stable Share Price: VICI has not had significant price volatility in the past 3 months compared to the US market.
Volatility Over Time: VICI's weekly volatility (3%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 2016 | 28 | Ed Pitoniak | www.viciproperties.com |
VICI Properties Inc. is an S&P 500 experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality, wellness, entertainment and leisure destinations, including Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las Vegas, three of the most iconic entertainment facilities on the Las Vegas Strip. VICI Properties owns 93 experiential assets across a geographically diverse portfolio consisting of 54 gaming properties and 39 other experiential properties across the United States and Canada. The portfolio is comprised of approximately 127 million square feet and features approximately 60,300 hotel rooms and over 500 restaurants, bars, nightclubs and sportsbooks.
VICI Properties Inc. Fundamentals Summary
| VICI fundamental statistics | |
|---|---|
| Market cap | US$30.63b |
| Earnings (TTM) | US$2.78b |
| Revenue (TTM) | US$4.01b |
11.0x
P/E Ratio7.6x
P/S RatioIs VICI overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| VICI income statement (TTM) | |
|---|---|
| Revenue | US$4.01b |
| Cost of Revenue | US$34.46m |
| Gross Profit | US$3.97b |
| Other Expenses | US$1.20b |
| Earnings | US$2.78b |
Last Reported Earnings
Dec 31, 2025
Next Earnings Date
Apr 30, 2026
| Earnings per share (EPS) | 2.60 |
| Gross Margin | 99.14% |
| Net Profit Margin | 69.28% |
| Debt/Equity Ratio | 59.4% |
How did VICI perform over the long term?
See historical performance and comparisonDividends
6.3%
Current Dividend Yield67%
Payout RatioCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/04/29 13:42 |
| End of Day Share Price | 2026/04/29 00:00 |
| Earnings | 2025/12/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
VICI Properties Inc. is covered by 35 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Wesley Golladay | Baird |
| Richard Hightower | Barclays |
| Keegan Carl | Berenberg |