VICI
BULLISH
$30.36
Live
VICI Properties Inc. · NYSE
Target $36.45
(+20.1%)
$27.98
52W Range
$34.03
At a glance
Key valuation, profitability, growth, and risk metrics.
Updated Nov 16, 2025
Market cap
$32.55B
P/E
11.54
ROE
10.4%
Profit margin
70.2%
Debt/Equity
0.63
Dividend yield
5.93%
AI Analysis
AI-powered fundamental assessment
Confidence
88%
VICI Properties presents a compelling value proposition in the REIT sector, trading at a steep discount to peers with a P/E of 11.12 versus a sector average of 52.53, while delivering superior profitability metrics including a 97.67% operating margin and 70.18% net margin. The stock offers a high 5.93% dividend yield supported by a sustainable 66.4% payout ratio and strong cash flow generation, despite near-term earnings volatility. While recent quarterly EPS growth has been inconsistent, long-term fundamentals remain robust, with solid balance sheet health and a favorable analyst consensus. Priced at $30.36, the stock trades well below a $36.45 mean target, implying 20% upside, and benefits from sector tailwinds in experiential real estate and casino monetization.
Key Strengths
Exceptionally low valuation with P/E of 11.12 vs sector average of 52.53, offering significant margin of safety
Industry-leading profitability: 97.67% operating margin and 70.18% net margin, far exceeding REIT sector average of 14.44%
Strong dividend profile with 5.93% yield and sustainable 66.44% payout ratio, well-covered by earnings
Healthy capital structure with conservative 0.63 debt/equity ratio, below sector average of 2.27
Robust liquidity position evidenced by current and quick ratios of 37.05, indicating negligible short-term solvency risk
Key Risks
Earnings volatility: only 2 out of last 4 quarters beat estimates, with recent negative surprises including -24.9% and -14.3%
Near-term earnings contraction: most recent Q/Q EPS growth declined by 14.5%, signaling potential operational headwinds
Limited visibility on EV/EBITDA and cash flow metrics due to missing data, raising transparency concerns
Underperformance in price momentum: -2.8% over 6M and -3.0% over 1M, lagging peers like O and DLR
Exposure to cyclical gaming and hospitality sectors, which may face macroeconomic pressure from consumer spending shifts
AI Fair Value Estimate
Based on comprehensive analysis
$36.45
+20.1% above current price
Performance Snowflake
Multi-dimensional analysis across 5 key categories
Overall
85
Excellent
92
74
80
90
87
AI Verdict
VICI stands out as a high-quality, undervalued REIT with superior profitability and dividend yield, trading at a steep discount to both intrinsic value and sector peers despite near-term earnings noise; the combination of low leverage, strong margins, and a 20% upside to analyst target supports a bullish stance.
Key drivers: Deep valuation discount relative to REIT peers, Exceptional margin profile and capital efficiency, Attractive 5.93% dividend yield with sustainable payout
Confidence
88%
Value
92/100
VICI is dramatically cheaper than peers like O (P/E 53.08), PSA (28.48), and DLR (40.98), despite stronger margins and lower leverage, suggesting a significant valuation gap
Positives
- P/E of 11.12 is less than 1/4 of the sector average (52.53), indicating substantial undervaluation
- Price/Book of 1.17 suggests shares trade close to book value, rare for a high-margin REIT
Watchpoints
- Lack of EV/EBITDA and EV/Revenue metrics limits full enterprise valuation assessment
- Forward P/E compression risk if earnings growth remains sub-5%
Future
74/100
Despite solid long-term 5Y return of +49.9%, recent price momentum is weak (-2.8% over 6M), and earnings trajectory shows volatility, though forward growth expectations remain positive
Positives
- Analyst target of $36.45 implies 20% upside, supported by buy rating from 22 analysts
- Stable long-term revenue growth of 4.4% YoY in a capital-light triple-net lease model
Watchpoints
- Q/Q EPS decline of 14.5% and inconsistent earnings beats raise near-term growth concerns
- Only 1.4% YoY earnings growth limits multiple expansion potential in the short term
Past
80/100
Quarterly earnings have shown strong recovery since 2020, with multiple double-digit positive surprises, but inconsistency remains a concern despite overall margin strength and 3Y return of +11.9%
Positives
- Consistently high profitability with gross margin of 99.07% and ROE of 10.36% over time
- Long-term shareholder value creation: 5Y return of +49.9% outpaces most REIT peers
Watchpoints
- Earnings surprise history is mixed, with several large negative misses (e.g., -88.3%, -68.2%)
- EPS volatility since 2020, including a $-0.05 reported loss in Q2 2022, indicates cyclical sensitivity
Health
90/100
VICI’s balance sheet is significantly stronger than peers like CCI and O, with lower leverage and superior liquidity, positioning it well for interest rate volatility and acquisition opportunities
Positives
- Debt/Equity of 0.63 is well below sector average of 2.27, indicating conservative capital structure
- Exceptional liquidity with current and quick ratios of 37.05, reflecting minimal short-term risk
Watchpoints
- Missing total debt and cash figures limit full assessment of refinancing risk and cash runway
- No ROIC data available, reducing insight into capital allocation efficiency
Dividend
87/100
The dividend is well-supported by earnings and offers a yield nearly 4x the sector average implied by peer data, making it a key investor attraction despite lack of long-term growth track record
Positives
- High 5.93% dividend yield, among the most attractive in the REIT sector
- Payout ratio of 66.44% is sustainable given stable rental income and strong cash flows
Watchpoints
- No data on dividend growth history or consistency of increases, limiting visibility on policy
- Yield may reflect market concerns about growth or sector risk, despite strong coverage
Stock Price & Analyst Targets
Real-time price movements and analyst price targets
Current Price
$30.36
Analyst Target
$36.45
Upside/Downside
+20.1%
Multi-Horizon Performance vs Peers
Price momentum across 5Y → 1W horizons for VICI and closest competitors.
Updated 2025-11-14
| Company | 5Y | 3Y | 1Y | 6M | 1M | 1W |
|---|---|---|---|---|---|---|
|
VICI
VICI Properties Inc.
Primary
|
+49.9% | +11.9% | +2.5% | -2.8% | -3.0% | +0.1% |
|
EXR
Extra Space Storage Inc.
Peer
|
+17.8% | +7.8% | +4.8% | -3.2% | +9.3% | -2.2% |
|
AVB
AvalonBay Communities, Inc.
Peer
|
+27.0% | +14.8% | -13.4% | -9.7% | -1.4% | -2.0% |
|
CCI
Crown Castle Inc.
Peer
|
-30.4% | -20.6% | -5.9% | -8.4% | -6.5% | +2.4% |
|
SBAC
SBA Communications Corporation
Peer
|
-16.6% | -10.2% | -0.4% | +15.1% | +21.9% | -0.3% |
VIC
VICI Properties Inc.
Primary
5Y
+49.9%
3Y
+11.9%
1Y
+2.5%
6M
-2.8%
1M
-3.0%
1W
+0.1%
EXR
Extra Space Storage Inc.
Peer
5Y
+17.8%
3Y
+7.8%
1Y
+4.8%
6M
-3.2%
1M
+9.3%
1W
-2.2%
AVB
AvalonBay Communities, Inc.
Peer
5Y
+27.0%
3Y
+14.8%
1Y
-13.4%
6M
-9.7%
1M
-1.4%
1W
-2.0%
CCI
Crown Castle Inc.
Peer
5Y
-30.4%
3Y
-20.6%
1Y
-5.9%
6M
-8.4%
1M
-6.5%
1W
+2.4%
SBA
SBA Communications Corporation
Peer
5Y
-16.6%
3Y
-10.2%
1Y
-0.4%
6M
+15.1%
1M
+21.9%
1W
-0.3%
Positive values indicate cumulative gains over the specified period. Comparables pulled from the same sector to highlight whether momentum is stock-specific or industry-wide.
Historical Performance Trends
Long-term financial metrics and growth patterns
Revenue & Net Income
Profit & Operating Margins
Return on Equity (ROE)
Quarterly Revenue Growth
Historical data shows last 12 quarters (3 years)
Valuation Metrics
Key valuation ratios and pricing indicators
P/E Ratio
11.54
Forward P/E
11.12
PEG Ratio
N/A
P/B Ratio
1.17
P/S Ratio
8.2
EV/Revenue
12.61
EV/EBITDA
13.64
Market Cap
$32.55B
Profitability
Profit margins and return metrics
Profit Margin
70.17%
Operating Margin
97.67%
Gross Margin
99.07%
ROE
10.36%
ROA
5.01%
Growth
Revenue and earnings growth rates
Revenue Growth
+4.4%
Earnings Growth
+1.4%
Q/Q Revenue Growth
N/A
Q/Q Earnings Growth
+4.0%
Financial Health
Balance sheet strength and liquidity metrics
Debt/Equity
0.63
Moderate
Current Ratio
37.05
Strong
Quick Ratio
37.05
Excellent
Cash/Share
$0.47
Quarterly Earnings History
EPS performance vs analyst estimates
2026-02-19
$N/A
2025-10-30
$0.71
+3.4% surprise
2025-07-30
$0.83
+17.9% surprise
2025-04-30
$0.51
-24.9% surprise
Real Estate Sector Comparison
Comparing VICI against 165 companies in the Real Estate sector
(6 bullish, 31 neutral, 128 bearish)
P/E Ratio
11.54
This Stock
vs
41.83
Sector Avg
-72.4%
(Discount)
Return on Equity (ROE)
10.36%
This Stock
vs
-33.57%
Sector Avg
-130.9%
(Below Avg)
Profit Margin
70.17%
This Stock
vs
10.53%
Sector Avg
+566.4%
(Superior)
Debt to Equity
0.63
This Stock
vs
2.45
Sector Avg
-74.3%
(Less Debt)
Revenue Growth
4.4%
This Stock
vs
16932.14%
Sector Avg
-100.0%
(Slower)
Current Ratio
37.05
This Stock
vs
7.96
Sector Avg
+365.4%
(Stronger)
Similar Companies
Peer comparison within the same industry
| Company | AI Rating | Market Cap | P/E | ROE | Profit Margin | Price | |
|---|---|---|---|---|---|---|---|
|
VICI
VICI Properties Inc.
|
BULLISH | $32.55B | 11.54 | 10.4% | 70.2% | $30.36 | |
|
EXR
Extra Space Storage Inc.
|
NEUTRAL | $30.01B | 30.96 | 7.0% | 28.3% | $142.09 | Compare |
|
AVB
AvalonBay Communities, Inc.
|
BEARISH | $25.45B | 21.41 | 9.8% | 38.1% | $178.77 | Compare |
|
CCI
Crown Castle Inc.
|
BEARISH | $39.92B | - | -206.7% | -71.9% | $91.68 | Compare |
|
SBAC
SBA Communications Corporation
|
BULLISH | $23.67B | 22.77 | -% | 37.4% | $223.14 | Compare |
VICI
VICI Properties Inc.
BULLISH
Mkt Cap
$32.5B
P/E
11.5
ROE
10.4%
Price
$30.36
Recent Insider Trading
Insider buy and sell transactions from the last 6 months
| Date | Insider | Position | Transaction | Shares | Value |
|---|---|---|---|---|---|
| 2025-10-01 | HOLLAND ELIZABETH I | Director | Stock Award | 251 | - |
| 2025-10-01 | DOUGLAS MONICA HOWARD | Director | Stock Award | 188 | - |
| 2025-10-01 | RUMBOLZ MICHAEL D | Director | Stock Award | 339 | - |
| 2025-10-01 | MACNAB CRAIG | Director | Stock Award | 351 | - |
| 2025-10-01 | ABRAHAMSON JAMES R | Director | Stock Award | 1,106 | - |
| 2025-10-01 | CANTOR DIANA F | Director | Stock Award | 442 | - |
| 2025-07-01 | HOLLAND ELIZABETH I | Director | Stock Award | 186 | - |
| 2025-07-01 | DOUGLAS MONICA HOWARD | Director | Stock Award | 93 | - |
| 2025-07-01 | RUMBOLZ MICHAEL D | Director | Stock Award | 232 | - |
| 2025-07-01 | MACNAB CRAIG | Director | Stock Award | 348 | - |
| 2025-07-01 | ABRAHAMSON JAMES R | Director | Stock Award | 580 | - |
| 2025-07-01 | CANTOR DIANA F | Director | Stock Award | 387 | - |
HOLLAND ELIZABETH I
Director
2025-10-01
251 shares
DOUGLAS MONICA HOWARD
Director
2025-10-01
188 shares
RUMBOLZ MICHAEL D
Director
2025-10-01
339 shares
MACNAB CRAIG
Director
2025-10-01
351 shares
ABRAHAMSON JAMES R
Director
2025-10-01
1,106 shares
CANTOR DIANA F
Director
2025-10-01
442 shares
HOLLAND ELIZABETH I
Director
2025-07-01
186 shares
DOUGLAS MONICA HOWARD
Director
2025-07-01
93 shares
RUMBOLZ MICHAEL D
Director
2025-07-01
232 shares
MACNAB CRAIG
Director
2025-07-01
348 shares
ABRAHAMSON JAMES R
Director
2025-07-01
580 shares
CANTOR DIANA F
Director
2025-07-01
387 shares
Insider transactions can signal confidence or concerns about company prospects
Wall Street Analysts
Professional analyst ratings and price targets
Consensus
BUY
22 analysts
Cantor Fitzgerald
2025-11-06
Overweight
Overweight
Stifel
2025-10-31
Buy
Buy
Evercore ISI Group
2025-10-31
Outperform
Outperform
Barclays
2025-10-20
Overweight
Overweight
Cantor Fitzgerald
2025-10-01
Overweight
Evercore ISI Group
2025-09-15
Outperform
Outperform
Mizuho
2025-09-11
Outperform
Outperform
JP Morgan
2025-09-10
Overweight
Overweight
Scotiabank
2025-08-28
Sector Outperform
Sector Outperform
Wells Fargo
2025-08-27
Overweight
Overweight
Past News Coverage
Recent headlines mentioning VICI from our newsroom.
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