VICI Properties (NYSE:VICI) Issues FY 2026 Earnings Guidance

Key Points

• VICI issued FY 2026 EPS guidance of $2.470–$2.480, broadly in line with the $2.470 analyst consensus, while raising its AFFO-per-share outlook to approximately $2.475.
• The company authorized a $2 billion share-repurchase program, representing roughly 7.7% of outstanding shares, as management views the stock as undervalued and seeks to support AFFO per share.
• Despite 5.8% year-over-year revenue growth to about $1.07 billion, GAAP EPS fell to $0.31 versus the $0.72 estimate, partly due to a $458 million non-cash increase in credit-loss allowances primarily related to Caesars.

VICI Properties (NYSE:VICI - Get Free Report) updated its FY 2026 earnings guidance on Friday morning. The company provided earnings per share guidance of 2.470-2.480 for the period, compared to the consensus estimate of 2.470.

VICI Properties Stock Performance

Shares of VICI stock opened at $24.49 on Friday. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $26.97 billion, a PE ratio of 11.23 and a beta of 0.65. The firm has a 50 day moving average of $24.20 and a two-hundred day moving average of $26.98. VICI Properties has a 52 week low of $22.42 and a 52 week high of $30.83.

VICI Properties (NYSE:VICI - Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates of $0.72 by ($0.41). The firm had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1.06 billion. VICI Properties had a net margin of 56.46% and a return on equity of 8.14%. VICI Properties's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 EPS. On average, research analysts predict that VICI Properties will post 2.47 EPS for the current fiscal year.

VICI Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Thursday, September 17th. This represents a $1.84 annualized dividend and a dividend yield of 7.5%. This is a boost from VICI Properties's previous quarterly dividend of $0.45. VICI Properties's dividend payout ratio is 84.40%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Truist Financial decreased their price objective on shares of VICI Properties from $38.00 to $32.00 and set a "buy" rating on the stock in a research note on Tuesday, October 20th. Deutsche Bank Aktiengesellschaft set a $30.00 price objective on VICI Properties in a research note on Friday, July 31st. Cantor Fitzgerald reduced their target price on VICI Properties from $34.00 to $32.00 and set an "overweight" rating for the company in a research note on Monday, August 10th. Evercore set a $30.00 price objective on VICI Properties in a research report on Monday, September 21st. Finally, Citizens Jmp reduced their target price on shares of VICI Properties from $35.00 to $31.00 and set a "market outperform" rating for the company in a research note on Friday, October 2nd. Eight equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $29.61.

VICI Properties News Roundup

Here are the key news stories impacting VICI Properties this week:

• Positive Sentiment: VICI authorized a $2 billion share-repurchase program, equivalent to roughly 7.7% of outstanding shares. Management believes the stock is undervalued, and buybacks could boost adjusted funds from operations (AFFO) per share and support the stock. VICI Properties reports third-quarter results and announces share repurchase program
• Positive Sentiment: Third-quarter revenue rose 5.8% year over year to approximately $1.07 billion, exceeding expectations as lease growth, strong occupancy and contractual escalators supported results. AFFO was about $0.62 per share, broadly in line with consensus and up from $0.60 a year earlier. VICI Properties’ Q3 FFO meets estimates and revenue beats
• Positive Sentiment: Management raised its 2026 AFFO-per-share outlook to approximately $2.475. AFFO per share grew 4.3%, while the payout ratio has declined to roughly 74%, leaving more retained cash available for reinvestment and repurchases. VICI Properties Q3 AFFO and revenue rise
• Neutral Sentiment: VICI said leverage remains within its targeted 5.0x–5.5x range, which provides flexibility for buybacks while maintaining its dividend and investment-grade financial profile. VICI Properties’ $2 billion buyback
• Negative Sentiment: Reported earnings declined and GAAP EPS of $0.31 was well below the $0.72 analyst estimate, reflecting higher expenses. VICI also recorded a $458 million increase in its credit-loss allowance, much of it related to Caesars, although the charge was non-cash and did not reduce AFFO or the dividend. VICI Properties Q3 earnings and Caesars lease uncertainty

VICI Properties Company Profile

VICI Properties Inc NYSE: VICI is a real estate investment trust that owns and manages experiential properties, with a primary focus on gaming, hospitality and entertainment destinations. The company's portfolio includes the real estate associated with well-known casinos, resorts, racetracks and golf facilities.

VICI generally leases its properties to gaming and entertainment operators through long-term, triple-net lease agreements. Its tenants operate the properties and are typically responsible for property-level expenses such as maintenance, insurance and taxes, while VICI focuses on owning, maintaining and expanding its real estate portfolio.

The company was established in 2017 as part of the restructuring of Caesars Entertainment Operating Company.

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