VICI Properties Inc. (VICI) Stock Price & Analysis
VICI Properties Inc. (VICI) closed at USD 24.02 on Thursday, October 22, 2026, up 3.76% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 23.15; the Oct 22, 2026 session ranged USD 23.26–24.04 on volume of 9,471,646 shares. Market capitalization is $26.45B, with a 52-week range of USD 22.43–31.69 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 09:48 UTC.
Also available as compact Markdown for AI agents: nexqual.com/VICI.md
Key facts (VICI)
- Last four reported quarters (through Jun 30, 2026): revenue $4.10B, net income $2.77B (67.5% margin) (SEC filings).
- Valuation: P/E 9.6x (avg 11.7x at the last 3 fiscal year-ends), net debt $16.6B.
- 2 of 80 tracked superinvestors hold VICI (13F, Q2 2026): 1 new, 0 added, 1 reduced, 0 unchanged.
- Analysts: Buy (mean 2.20 on a 1–5 scale) (25 analysts), mean target USD 31.13 (range 24–37).
- Total return with dividends: 1Y -18.2% vs S&P 500 +14.9%; 5Y +5.1% vs S&P 500 +80.3%.
- Next earnings: 2026-10-28, EPS estimate USD 0.72, revenue estimate $1.06B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (VICI)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.51B | $2.60B | $3.61B | $3.85B | $4.01B | $4.10B |
| Gross profit | $1.49B | $2.58B | $3.58B | $3.82B | $3.98B | — |
| Net income | $1.01B | $1.12B | $2.51B | $2.68B | $2.78B | $2.77B |
| EPS (diluted) | $1.76 | $1.27 | $2.47 | $2.56 | $2.61 | — |
| Gross margin | 98.6% | 99.1% | 99.3% | 99.3% | 99.3% | — |
| Net margin | 67.2% | 43.0% | 69.6% | 69.6% | 69.3% | 67.5% |
| Revenue growth | +23.2% | +72.3% | +38.9% | +6.6% | +4.1% | — |
| Cash + short-term investments | $740M | $426M | $523M | $525M | $608M | — |
| Total debt | $4.69B | $13.7B | $16.7B | $16.7B | $16.8B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (VICI)
P/E 9.6x · P/S 6.5x · EV/Sales 10.5x · P/B 0.9x · Earnings yield 10.46% · Dividend yield (paid, TTM) 7.18% · Net debt $16.6B · EV $43.1B
P/E at fiscal year-ends: Dec 2025 10.8x, Dec 2024 11.4x, Dec 2023 12.9x.
Superinvestors (SEC 13F-HR, Q2 2026) (VICI)
2 of 80 tracked investors hold VICI. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Christopher Davis | Davis Advisors | 0.02% | $5.7M | Reduced -2.2% |
| Sarah Ketterer | Causeway Capital Management | <0.01% | $212K | New position |
Analysts (VICI)
Consensus Buy (mean 2.20 on a 1–5 scale), 25 analysts; mean target USD 31.13 (low 24, high 37).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-20 | Truist Securities | Target lowered | Buy | $38 → $32 |
| 2026-10-20 | Barclays | Target lowered | Overweight | $31 → $28 |
| 2026-10-19 | Wells Fargo | Target lowered | Equal-Weight | $26 → $24 |
| 2026-10-07 | Macquarie | Target lowered | Outperform | $36 → $34 |
| 2026-10-02 | Citizens | Target lowered | Market Outperform | $35 → $31 |
| 2026-09-24 | JP Morgan | Downgrade | Overweight → Neutral | $30 |
| 2026-09-24 | Scotiabank | Target lowered | Sector Perform | $29 → $26 |
| 2026-09-21 | Evercore ISI Group | Target lowered | In-Line | $31 → $30 |
| 2026-09-15 | Morgan Stanley | Target lowered | Equal-Weight | $31 → $29 |
| 2026-09-02 | Mizuho | Target lowered | Neutral | $30 → $27 |
| 2026-09-01 | Wells Fargo | Target lowered | Equal-Weight | $27 → $26 |
| 2026-08-10 | Cantor Fitzgerald | Target lowered | Overweight | $34 → $32 |
Total return (dividends reinvested) (VICI)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | -18.2% | +5.1% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -18.3% | +1.0% |
| Volatility (annualized) | 18.9% | 19.2% |
| Max drawdown | -23.3% (Oct 2025→Oct 2026) | -27.2% (Aug 2025→Sep 2026) |
VICI suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | VICI Properties HoldCo | “As of December 31, 2025, VICI owns 100% of the limited liability company interests of VICI Properties HoldCo LLC ("HoldCo"), which in turn owns approximately 98.9% of the limited liability company interest of VICI OP (such interests, "VICI OP Units"), our operating partnership, which in turn owns 100% of the limited partnership interest in VICI LP.” |
| Partner | Lucky Strike Entertainment Corp (LUCK) | “We also have a growing array of real estate and financing partnerships with leading developers and operators in other experiential sectors, including Cabot, Cain, Canyon Ranch, Chelsea Piers, Great Wolf Resorts, Homefield, Kalahari Resorts and Lucky Strike Entertainment.” |
| Partner | Indigenous Gaming Partners | “(9) IGP is a gaming partnership established by five institutional Nova Scotia-based First Nations (Glooscap First Nation, Millbrook First Nation, Annapolis Valley First Nation, We'koqma'q L'nue'kati, and Paqtnkek Mi'kmaw Nation) to acquire gaming assets in North America.” |
| Partner | MGM Growth Properties | “In addition, the joint venture that holds the real estate assets of MGM Grand Las Vegas and Mandalay Bay ("MGM Grand/Mandalay Bay JV") previously entered into a tax protection agreement with MGM with respect to built-in gain and debt maintenance related to MGM Grand Las Vegas and Mandalay Bay, which is effective through mid-2029, and by acquiring MGP in April 2022 and subsequently acquiring the remaining 49.9% int…” |
| Partner | VICI Golf | “We conduct our real property business through our operating partnership, VICI OP, and our golf course business through a TRS, VICI Golf.” |
Quoted from the company's 10-K filed Feb 25, 2026.
Companies that name VICI in their SEC reports
| Relationship to VICI | Company | Filing | Sentence |
|---|---|---|---|
| partner | Lucky Strike Entertainment Corp (LUCK) | 10-K Aug 27, 2026 | “The Company also has a master lease agreement with VICI covering 38 properties.” |
| partner | Caesars Entertainment, Inc. (CZR) | 10-K Feb 17, 2026 | “We lease certain real property assets from third parties, including GLP Capital, L.P., the operating partnership of Gaming and Leisure Properties, Inc. ("GLPI") and VICI Properties L.P., a Delaware limited partnership ("VICI").” |
VICI customer concentration
In the period ended Jun 30, 2026, 2 direct customers each accounted for at least 10% (37%, 35%) of revenue, per the company's 10-Q filed Jul 29, 2026. The company does not name them.
VICI company outlook (results filed Jul 29, 2026)
- “Guidance for Full Year 2026 - NEW YORK, NY – July 29, 2026 – VICI Properties Inc.”
Quoted word-for-word from the SEC 8-K results press release.
VICI analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $0.72 | $0.71 | +1.4% | $1.06B | 1 |
| Next quarter (ends Dec 2026) | $0.73 | $0.71 | +2.8% | $1.07B | 1 |
| Current fiscal year (ends Dec 2026) | $2.75 | $2.94 | -6.5% | $4.22B | 1 |
| Next fiscal year (ends Dec 2027) | $2.99 | $2.93 | +2.0% | $4.36B | 1 |
VICI options: expected move
Options price a move of about ±5.6% (±$1.35) by Nov 20, 2026, which includes earnings on Oct 28, 2026. Over the last 8 reports the stock moved ±2% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 22.8% | ±5.6% |
| Dec 18, 2026 | 56 | 20.5% | ±8.3% |
| Jan 15, 2027 | 84 | 20.3% | ±9.6% |
| Mar 19, 2027 | 147 | 21.2% | ±12.5% |
| Jun 17, 2027 | 237 | 19.3% | ±13.9% |
30-day implied volatility 19.8% vs 20.5% realized over the last 30 trading days. Put/call ratio (volume) 0.4. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 09:48 UTC)
| Price | USD 24.02 |
|---|---|
| Change | ▲ 3.76% (up) |
| Previous Close | USD 23.15 |
| Open | USD 23.31 |
| Day Range | USD 23.26 – 24.04 |
| 52-Week Range | USD 22.43 – 31.69 |
| Volume | 9,471,646 shares |
| Market Cap | $26.45B |
| Exchange | NYQ |
Technical Analysis (VICI)
Nexqual's technical model rates VICI "SELL" based on 2 bullish and 5 bearish signals across 127 daily candles, as of October 23, 2026 at 09:48 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 55.01 (neutral) |
| vs SMA50 | Below (USD 24.42) |
| MACD | -0.23 (negative) |
Analyst Ratings (VICI)
Wall Street analysts rate VICI "Buy" based on 25 analysts, with a mean price target of USD 31.13 (range USD 24–37), per Nexqual as of October 23, 2026 at 09:48 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 25 |
| Mean Target | USD 31.13 |
| High Target | USD 37 |
| Low Target | USD 24 |
| Buy / Hold / Sell | 16 / 9 / 0 |
Earnings (VICI)
| Next Earnings Date | 2026-10-28 |
|---|---|
| EPS Estimate | USD 0.72 |
| Revenue Estimate | $1.06B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 0.48 vs est 0.71 ▼ miss |
| 2026-03-31 | USD 0.82 vs est 0.71 ▲ beat |
| 2025-12-31 | USD 0.57 vs est 0.7 ▼ miss |
| 2025-09-30 | USD 0.71 vs est 0.69 ▲ beat |
Source: Nexqual, October 23, 2026 at 09:48 UTC.
Financials & Fundamentals (VICI)
| Total Revenue | $4.10B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +5.70% |
| Gross Margin | +99.27% |
| Operating Margin | +70.18% |
| Profit Margin | +67.50% |
| ROE | +9.85% |
| Debt / Equity | 0.6 |
| Current Ratio | 11.24 |
| Total Cash | $300.95M |
| Total Debt | $17.84B |
Source: Nexqual, October 23, 2026 at 09:48 UTC.
Financial Health Score (VICI)
Nexqual rates VICI Properties Inc.'s overall financial health "Solid" across five dimensions, as of October 23, 2026 at 09:48 UTC.
| Growth | Mixed — Revenue +4.1% YoY (annual), slow |
|---|---|
| Profitability | Strong — Operating margin 70% |
| Balance Sheet | Strong — $288M cash and investments vs $16.9B debt (Jun 2026, SEC) |
| Cash Flow | Solid — Operating cash flow $2.51B (FY ended Dec 2025, 10-K) |
| Efficiency | Mixed — ROE 10%, ROA 4.8% |
Ownership (VICI)
| Insider Ownership | +0.28% |
|---|---|
| Institutional Ownership | +98.34% |
| Shares Outstanding | 1.10B |
| Float | 1.10B |
| Short % of Float | +2.98% |
Source: Nexqual, October 23, 2026 at 09:48 UTC.
Leadership (VICI)
VICI Properties Inc. is led by Edward Baltazar Pitoniak, CEO & Director, per Nexqual as of October 23, 2026 at 09:48 UTC.
| CEO & Director | Edward Baltazar Pitoniak |
|---|---|
| President & COO | John W. R. Payne |
| Executive VP, CFO & Treasurer | David Andrew Kieske |
| Assistant General Counsel & Director of Compliance | Benjamin Somogyi |
| Senior Vice President of Capital Markets | Moira McCloskey |
Major Backers & Investors (VICI)
Notable institutional backers of VICI Properties Inc. include Bank of America Corporation, Price (T.Rowe) Associates Inc, JPMorgan, according to Nexqual as of October 23, 2026 at 09:48 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Bank of America Corporation | 2.66% |
| Price (T.Rowe) Associates Inc | 2.18% |
| JPMorgan | 1.92% |
| Invesco | 1.58% |
| Fidelity | 1.29% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| Vanguard Group | 13.77% |
| BlackRock | 11.75% |
| State Street | 6.1% |
| Geode Capital | 3.65% |
| Allianz Asset Management GmbH | 2.86% |
Source: Nexqual, October 23, 2026 at 09:48 UTC.
From VICI Properties Inc.'s Latest SEC 10-K Filing (filed 2026-02-25)
Key Strengths & Strategy (as disclosed to the SEC)
- We are one of the largest triple net lease REITs with over $4.0 billion in revenues in 2025 and 100% rent collection since formation (including through COVID).
- We have announced approximately $39.1 billion of domestic and international investments across gaming and other experiential assets since our formation in October 2017.
Partnerships
- We have a ROFR agreement with Caesars (the "Las Vegas Strip ROFR Agreement"), pursuant to which we have the first right, with respect to the first two Las Vegas Strip assets described below that Caesars proposes to sell, whether pursuant to a sale leaseback or a sale of the real estate and operations (a "WholeCo sale"), to a third party, to acquire any such asset (it being understood that we will have the opportunity to find an operating company should Caesars elect to pursue a WholeCo sale).
- Pursuant to our management agreement with Cabot-Managed Properties with respect to the Golf Courses, we work in partnership with Cabot-Managed Properties to continue to implement sustainability initiatives at the Golf Courses and improve their environmental performance.
Legal & Regulatory Risks (Item 1A, quoted)
- We are dependent on the gaming industry and may be susceptible to risks associated with it, including heightened competition, regulatory developments, changes in consumer behavior and discretionary spending, and the overall macroeconomic environment and outlook.
- We and our tenants face extensive regulation from gaming and other regulatory authorities, and our charter provides that any of our shares held by investors who are found to be unsuitable by state gaming regulatory authorities are subject to redemption, which may delay or prohibit a change in control.
- Our business is subject to risks associated with environmental compliance, including as a result of climate change laws and regulations and the transition to a lower carbon economy, and potential costs and liabilities associated with such compliance may materially impair the value of certain real estate properties owned by us.
- Changes to the U.S. federal income tax laws or global tax laws could have a material and adverse effect on us or our stockholders.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| WPC | W. P. Carey Inc. REIT | USD 64.54 | ▲ 3.15% |
| BNL | Broadstone Net Lease, Inc. | USD 17.55 | ▲ 1.86% |
| GNL | Global Net Lease, Inc. | USD 7.28 | ▲ 2.25% |
| AAT | American Assets Trust, Inc. | USD 21.29 | ▲ 4.01% |
| ESRT | Empire State Realty Trust, Inc. | USD 4.93 | ▲ 5.57% |
| JBGS | JBG SMITH Properties | USD 11.39 | ▲ 6.35% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:48 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt