Overview

• Experiential REIT's Q4 revenue rose YoY, in line with analyst expectations

• AFFO per share rose 5.6% yr/yr to $0.60

• Company announced $1.16 bln acquisition of casino properties from Golden Entertainment

Outlook

• VICI Properties estimates 2026 AFFO between $2,590 mln and $2,625 mln

• Company expects 2026 AFFO per share between $2.42 and $2.45

• VICI Properties says guidance excludes impacts from pending acquisitions

Result Drivers

• CAPITAL COMMITMENTS - VICI announced over $2 bln in capital commitments in 2025 with an 8.9% initial yield, contributing to revenue growth

• ACQUISITIONS - The acquisition of casino properties from Golden Entertainment for $1.16 bln was announced in Q4

• STRATEGIC PARTNERSHIPS - New partnerships, including with Clairvest and Red Rock Resorts, were highlighted as positioning the company for future growth

Company press release: ID:nBwbTDgB9a

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 19 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the specialized reits peer group is "buy"

• Wall Street's median 12-month price target for VICI Properties Inc is $35.00, about 15.6% above its February 24 closing price of $30.28

• The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 11 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)