VICI Properties Posts Solid Q4 Results, Expands Investments
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An update from VICI Properties ( (VICI) ) is now available.
VICI Properties reported fourth-quarter 2025 revenue of $1.0 billion, up 3.8% year over year, with net income to common shareholders down 1.6% to $604.8 million, or $0.57 per share, largely due to changes in its CECL allowance, while AFFO rose 6.8% to $642.5 million, or $0.60 per share. For full-year 2025, revenue grew 4.1% to $4.0 billion, net income increased 3.6% to $2.8 billion, or $2.61 per share, and AFFO climbed 6.6% to $2.5 billion, as the REIT boosted its dividend for the eighth consecutive year and ended the year with solid liquidity.
Operationally, VICI announced about $2.1 billion of 2025 capital commitments at an average initial yield of 8.9%, including a $1.16 billion sale-leaseback of seven Golden Entertainment casinos in Nevada and mezzanine and term loan investments in the One Beverly Hills and North Fork Mono Casino & Resort projects. The company also expanded its tenant and partner base through new strategic relationships with Cain and Eldridge Industries, Red Rock Resorts, Clairvest and Golden Entertainment, combined certain PENN Entertainment leases into a master lease, and set guidance for 2026, underscoring an ongoing strategy of partnership-driven growth in experiential real estate.
The most recent analyst rating on (VICI) stock is a Hold with a $30.00 price target. To see the full list of analyst forecasts on VICI Properties stock, see the VICI Stock Forecast page.
Spark’s Take on VICI Stock
According to Spark, TipRanks’ AI Analyst, VICI is a Outperform.
VICI Properties’ overall stock score is driven by strong financial performance and positive earnings call sentiment, highlighting growth in AFFO and dividends. However, bearish technical indicators and market concerns about the Las Vegas market and MGM’s strategic decisions weigh on the score. The stock’s attractive valuation and dividend yield provide additional support.
To see Spark’s full report on VICI stock, click here.
More about VICI Properties
VICI Properties Inc. is an experiential real estate investment trust focused on owning and financing gaming, hospitality and entertainment properties, including casino real estate across major U.S. markets. The company grows through sale-leasebacks, mezzanine lending and other capital commitments with a diversified roster of leading gaming operators and experiential real estate partners.
Average Trading Volume: 11,718,322
Technical Sentiment Signal: Strong Buy
Current Market Cap: $32.36B
For an in-depth examination of VICI stock, go to TipRanks’ Overview page.
