Nykredit A/S ve 2. čtvrtletí koupil nový podíl ve VICI Properties, konkrétně 76 828 akcií za zhruba 2,04 mil. USD. VICI zároveň oznámila vyšší čtvrtletní dividendu na 0,46 USD na akcii.
Nykredit A S purchased a new stake in VICI Properties Inc. (NYSE:VICI – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 76,828 shares of the company’s stock, valued at approximately $2,040,000.
Several other institutional investors have also recently made changes to their positions in the stock. Bayban bought a new position in shares of VICI Properties in the 4th quarter worth $25,000. Dynamic Wealth Strategies LLC bought a new stake in VICI Properties during the 1st quarter valued at $25,000. State of Wyoming acquired a new position in VICI Properties during the second quarter worth $26,000. Evolution Wealth Management Inc. acquired a new position in VICI Properties during the fourth quarter worth $28,000. Finally, Headlands Technologies LLC bought a new position in shares of VICI Properties in the second quarter valued at $28,000. Institutional investors and hedge funds own 97.71% of the company’s stock.
VICI Properties Trading Down 0.1% Shares of VICI Properties stock opened at $25.39 on Tuesday. The firm has a market cap of $27.96 billion, a PE ratio of 9.84 and a beta of 0.65. VICI Properties Inc. has a 1 year low of $25.34 and a 1 year high of $33.82. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.98 and a quick ratio of 1.98. The stock has a fifty day moving average price of $26.35 and a 200-day moving average price of $27.59.
VICI Properties (NYSE:VICI – Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.09). The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. VICI Properties had a net margin of 67.50% and a return on equity of 9.66%. VICI Properties’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS. VICI Properties has set its FY 2026 guidance at 2.450-2.470 EPS. Equities research analysts anticipate that VICI Properties Inc. will post 2.46 EPS for the current year. VICI Properties Increases Dividend The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Thursday, September 17th will be paid a $0.46 dividend. The ex-dividend date is Thursday, September 17th. This is a positive change from VICI Properties’s previous quarterly dividend of $0.45. This represents a $1.84 annualized dividend and a yield of 7.2%. VICI Properties’s dividend payout ratio (DPR) is currently 69.77%.
Analysts Set New Price Targets A number of research analysts have recently issued reports on VICI shares. Mizuho reduced their price objective on shares of VICI Properties from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, September 2nd. Deutsche Bank Aktiengesellschaft set a $30.00 price objective on VICI Properties in a report on Friday, July 31st. Raymond James Financial set a $29.00 target price on VICI Properties in a research report on Thursday, August 13th. Barclays lowered their price target on VICI Properties from $34.00 to $31.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Finally, Cantor Fitzgerald cut their price objective on shares of VICI Properties from $34.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, August 10th. Six investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, VICI Properties currently has a consensus rating of “Hold” and an average price target of $31.00.
View Our Latest Analysis on VICI
VICI Properties Profile (Free Report)
VICI Properties (NYSE: VICI) is a publicly traded real estate investment trust (REIT) that specializes in experiential real estate, with a primary focus on gaming, hospitality and entertainment assets. The company acquires, owns and manages a portfolio of destination properties and leases those assets to operators under long-term agreements, generating rental income and partnering on property development and capital projects. VICI was formed in connection with the restructuring of Caesars Entertainment and has since grown through acquisitions and strategic transactions to expand its footprint in the gaming and leisure sector.
The company’s portfolio is concentrated in major U.S.
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Vici Properties (VICI -0.90%) is at it again. The owner of market-leading gaming, hospitality, wellness, entertainment, and leisure destinations is raising its dividend by another 2.2%, bringing the annualized payment to $1.84 per share. The real estate investment trust (REIT) has now raised its payout every year since going public in 2018. Its latest raise will boost its already leading dividend yield, which, at its recent closing share price of $25.65, now stands at 7.2%. That's the highest dividend yield in the S&P 500.
Here's how this high-dividend REIT can afford to continue raising its payment.
Image source: Getty Images.
Backed by a world-class portfolio Vici Properties currently owns over 100 experiential properties leased to 16 tenants. While 70% of its rent comes from only two tenants, they include some of the most iconic gaming properties on the Las Vegas Strip.
The REIT leases its properties under triple-net leases with a weighted-average remaining term of nearly 40 years. Its leases feature strong protections, including inflation-linked rental rate increases (45% this year, rising to 87% by 2035). In addition to its owned real estate portfolio, Vici Properties has a growing real estate-backed loan portfolio (nearly $4.3 billion of total commitments at a 9.2% blended interest rate). While these aren't risk-free investments, they should provide the REIT with very stable income to support its high-yielding dividend.
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At its recently raised dividend rate, Vici Properties' payout ratio will be around 75% of its estimated adjusted funds from operations, at the low end of its 2026 guidance range. That will enable it to retain nearly $700 million in cash to fund new investments. The REIT also has a rock-solid investment-grade balance sheet, with leverage currently at the low end of its 5.0x-5.5x target range. That's providing it with the financial flexibility to make new investments to support its dividend. It recently closed a $1.2 billion sale-leaseback transaction, adding seven new casino properties, and acquired a beach resort in a $75.5 million build-to-suit redevelopment deal.
These and future new investments should support continued dividend growth, making it an attractive high-yield stock to buy.
Matt DiLallo has positions in Vici Properties. The Motley Fool recommends Vici Properties. The Motley Fool has a disclosure policy.
Adelante Capital Management ve 2. čtvrtletí nově nakoupila 1 338 445 akcií VICI Properties za zhruba 35,54 milionu USD. Podíl tvoří 2,3 % portfolia a jde o 13. největší pozici.
Adelante Capital Management LLC purchased a new position in shares of VICI Properties Inc. (NYSE:VICI – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,338,445 shares of the company’s stock, valued at approximately $35,536,000. VICI Properties comprises 2.3% of Adelante Capital Management LLC’s investment portfolio, making the stock its 13th biggest holding. Adelante Capital Management LLC owned about 0.12% of VICI Properties at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Gamco Investors INC. ET AL lifted its stake in shares of VICI Properties by 0.8% in the 1st quarter. Gamco Investors INC. ET AL now owns 47,615 shares of the company’s stock worth $1,301,000 after acquiring an additional 384 shares during the period. Corrado Advisors LLC increased its stake in shares of VICI Properties by 0.8% during the first quarter. Corrado Advisors LLC now owns 50,301 shares of the company’s stock worth $1,374,000 after acquiring an additional 393 shares during the period. Beacon Investment Advisors LLC increased its stake in shares of VICI Properties by 3.4% during the fourth quarter. Beacon Investment Advisors LLC now owns 13,980 shares of the company’s stock worth $393,000 after acquiring an additional 455 shares during the period. Rehmann Capital Advisory Group raised its holdings in VICI Properties by 5.9% during the fourth quarter. Rehmann Capital Advisory Group now owns 8,686 shares of the company’s stock worth $244,000 after purchasing an additional 483 shares in the last quarter. Finally, Physician Wealth Advisors Inc. raised its holdings in VICI Properties by 54.5% during the first quarter. Physician Wealth Advisors Inc. now owns 1,369 shares of the company’s stock worth $37,000 after purchasing an additional 483 shares in the last quarter. Hedge funds and other institutional investors own 97.71% of the company’s stock.
VICI Properties Stock Down 0.9% Shares of NYSE VICI opened at $26.05 on Thursday. The stock has a market capitalization of $28.68 billion, a price-to-earnings ratio of 10.10 and a beta of 0.65. VICI Properties Inc. has a 52 week low of $25.81 and a 52 week high of $33.92. The firm has a 50-day moving average price of $26.51 and a 200 day moving average price of $27.80. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.57.
VICI Properties (NYSE:VICI – Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.09). The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. VICI Properties had a return on equity of 9.66% and a net margin of 67.50%.The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 earnings per share. VICI Properties has set its FY 2026 guidance at 2.450-2.470 EPS. Equities research analysts anticipate that VICI Properties Inc. will post 2.46 EPS for the current fiscal year. VICI Properties Announces Dividend The company also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th were given a $0.45 dividend. The ex-dividend date was Thursday, June 18th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.9%. VICI Properties’s dividend payout ratio (DPR) is currently 69.77%.
Wall Street Analysts Forecast Growth VICI has been the subject of a number of recent analyst reports. Scotiabank reduced their price objective on shares of VICI Properties from $32.00 to $29.00 and set a “sector perform” rating for the company in a research report on Thursday, June 18th. Robert W. Baird set a $32.00 target price on VICI Properties in a research report on Thursday, July 30th. Cantor Fitzgerald cut 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. Raymond James Financial set a $29.00 price target on VICI Properties in a report on Thursday, August 13th. Finally, Wells Fargo & Company decreased their price target on VICI Properties from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 15th. Six analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $31.29.
Read Our Latest Research Report on VICI
VICI Properties Profile (Free Report)
VICI Properties (NYSE: VICI) is a publicly traded real estate investment trust (REIT) that specializes in experiential real estate, with a primary focus on gaming, hospitality and entertainment assets. The company acquires, owns and manages a portfolio of destination properties and leases those assets to operators under long-term agreements, generating rental income and partnering on property development and capital projects. VICI was formed in connection with the restructuring of Caesars Entertainment and has since grown through acquisitions and strategic transactions to expand its footprint in the gaming and leisure sector.
The company’s portfolio is concentrated in major U.S.
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Bank of New York Mellon Corp ve 2. čtvrtletí koupila novou pozici ve společnosti VICI Properties za zhruba 140,24 mil. USD a drží 5 282 002 akcií. Podíl činí 0,48 %.
Bank of New York Mellon Corp acquired a new position in shares of VICI Properties Inc. (NYSE:VICI – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,282,002 shares of the company’s stock, valued at approximately $140,237,000. Bank of New York Mellon Corp owned 0.48% of VICI Properties at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in VICI Properties during the 4th quarter worth $537,676,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of VICI Properties by 31,134.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,218,191 shares of the company’s stock valued at $287,336,000 after buying an additional 10,185,477 shares during the period. Man Group plc boosted its stake in shares of VICI Properties by 100.6% in the 4th quarter. Man Group plc now owns 11,406,537 shares of the company’s stock valued at $320,752,000 after buying an additional 5,720,867 shares during the period. Voloridge Investment Management LLC boosted its stake in shares of VICI Properties by 247.8% in the 4th quarter. Voloridge Investment Management LLC now owns 7,792,028 shares of the company’s stock valued at $219,112,000 after buying an additional 5,551,620 shares during the period. Finally, SG Americas Securities LLC grew its position in shares of VICI Properties by 1,001.4% during the first quarter. SG Americas Securities LLC now owns 5,659,186 shares of the company’s stock worth $154,609,000 after buying an additional 5,145,372 shares in the last quarter. 97.71% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth A number of analysts recently weighed in on VICI shares. Weiss Ratings restated a “hold (c)” rating on shares of VICI Properties in a research note on Wednesday, June 24th. Barclays decreased their price target on shares of VICI Properties from $34.00 to $31.00 and set an “overweight” rating for the company in a research note on Wednesday, July 22nd. Wells Fargo & Company lowered their price target on shares of VICI Properties from $29.00 to $27.00 and set an “equal weight” rating for the company in a report on Wednesday, July 15th. Cantor Fitzgerald dropped their price objective on shares of VICI Properties from $34.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, August 10th. Finally, Royal Bank Of Canada initiated coverage on shares of VICI Properties in a report on Thursday, June 25th. They issued a “sector perform” rating and a $29.00 price objective on the stock. Six analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, VICI Properties presently has an average rating of “Hold” and an average price target of $31.29.
View Our Latest Research Report on VICI Properties VICI Properties Price Performance Shares of NYSE:VICI opened at $26.55 on Monday. VICI Properties Inc. has a 12 month low of $25.81 and a 12 month high of $33.92. The firm has a market capitalization of $29.23 billion, a P/E ratio of 10.29 and a beta of 0.65. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.98 and a quick ratio of 1.98. The company’s fifty day moving average price is $26.59 and its 200 day moving average price is $27.84.
VICI Properties (NYSE:VICI – Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.09). The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. VICI Properties had a net margin of 67.50% and a return on equity of 9.66%. VICI Properties’s revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 earnings per share. VICI Properties has set its FY 2026 guidance at 2.450-2.470 EPS. As a group, sell-side analysts predict that VICI Properties Inc. will post 2.46 earnings per share for the current fiscal year.
VICI Properties Dividend Announcement The firm also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th were paid a dividend of $0.45 per share. The ex-dividend date was Thursday, June 18th. This represents a $1.80 annualized dividend and a dividend yield of 6.8%. VICI Properties’s dividend payout ratio is 69.77%.
VICI Properties Profile (Free Report)
VICI Properties (NYSE: VICI) is a publicly traded real estate investment trust (REIT) that specializes in experiential real estate, with a primary focus on gaming, hospitality and entertainment assets. The company acquires, owns and manages a portfolio of destination properties and leases those assets to operators under long-term agreements, generating rental income and partnering on property development and capital projects. VICI was formed in connection with the restructuring of Caesars Entertainment and has since grown through acquisitions and strategic transactions to expand its footprint in the gaming and leisure sector.
The company’s portfolio is concentrated in major U.S.
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VICI Properties už upsala emisi nových seniorních nezajištěných dluhopisů za 1,75 miliardy USD, aby refinancovala dluh splatný v roce 2026. Kupón nových emisí je vyšší než u odkupovaných dluhopisů.
Two gaming landlords reported within a day of each other, and the distance between their dividends is easy to state. What sits underneath is not the same measurement twice.
VICI Properties Inc. (NYSE:VICI) annualized dividend runs at 73.2% of the midpoint of its 2026 AFFO guidance. Gaming and Leisure Properties Inc. (NASDAQ:GLPI) runs at 79.8%. A 6.6 percentage point gap, on the same basis, from filings a day apart.
The PrintVICI reported second-quarter AFFO of $0.62 per diluted share and guides to $2.45 to $2.47 for the year. Its quarterly dividend is $0.45, or $1.80 annualized. GLPI reported $1.03 per diluted share, guides to $4.10 to $4.12, and declared $0.82 quarterly, or $3.28 annualized.
Both operate on long-dated leases to gaming operators. The payout ratio is where the similarity ends and the calendar takes over.
At June 30, VICI carried $17.218 billion of debt against GLPI’s $8.159 billion. VICI reported a weighted-average coupon of 4.60% and a separately stated effective rate of 4.45%. GLPI reported a weighted-average interest rate of 5.073%. Those are both issuer-stated whole-book figures, and the labels are not identical, so the 47 basis points between them is a difference in what each company reports rather than a measured cost spread.
What each company owes in the next two yearsVICI entered the quarter with $1.75 billion of notes maturing in 2026: $500 million at 4.500% due Sept. 1 and $1.25 billion at 4.250% due Dec. 1.
GLPI has no fixed-rate note maturity before June 2028, when $500 million of 5.750% notes come due. Its filing does show $1.7 million and $3.3 million of variable-rate principal repayments in 2026 and 2027, amounts under a tenth of a percent of the book. Its term loan and revolver both run to December 2028.
GLPI’s $8.159 billion is $7.15 billion of senior unsecured notes running from 2028 to 2054, a $679 million term loan and $329.9 million drawn on the revolver. Those three figures reconcile to the total the company reports, with no residual.
So VICI had $1.75 billion of fixed-rate notes due within months, while GLPI’s first large fixed-rate note maturity is in June 2028. GLPI reported a weighted-average maturity of 6.9 years against VICI’s 5.5, though VICI’s average carries secured debt that runs to 2032, which is a different kind of tenor than an unsecured note.
The part that is already on the recordOn Aug. 5, VICI priced $1.75 billion of replacement senior unsecured notes: $900 million at 5.400% due 2031 with an issue price of 99.966% of par, and $850 million at 5.750% due 2036 with an issue price of 98.375%. The issuer said it intends to use the net proceeds to repay all or a portion of those 2026 notes, with any remaining proceeds available for general corporate purposes. VICI said the offering was expected to close Aug. 14.
The face amounts match exactly. What changed is the coupon. The retiring notes carried a principal-weighted coupon of 4.3214%. The replacement notes carry 5.5700%. That is a step-up of roughly 125 basis points on the same $1.75 billion, and it is not a forecast. It is a price the issuer accepted and disclosed.
Read against VICI’s own 4.60% whole-book coupon, the debt leaving was cheaper than the average and the debt arriving is more expensive than it. The 2036 tranche also carries an issue price below par, so coupon alone does not capture the effective borrowing cost. VICI has not stated a blended effective borrowing rate for the priced notes.
What the ratio does not carryVICI’s whole-book rate includes $3.0 billion of secured CMBS at 3.558%, roughly 17% of its debt, maturing in March 2032 and able to reset after March 2030. GLPI’s June 30 debt table shows no secured borrowing.
The rate mix also sits differently at each company. VICI reported 98.4% of debt as fixed-rate at June 30, leaving 1.6% outside that category. That is a balance-sheet-date figure, not a statement that the proportion holds through maturity. At GLPI, the term loan and revolver together are about 12% of debt outstanding, and the company reports those two at 4.91% and 4.94%.
Neither payout ratio shows any of this directly. Both companies raised or maintained guidance. The 6.6 point gap describes what each dividend claims of forecast cash flow this year. It does not describe when either company next has to go to the debt market, or on what terms.
For VICI, one of those terms is already priced. For GLPI, the next large fixed-rate test still sits in June 2028.
Source. VICI Properties second-quarter 2026 results and supplemental, released July 29, 2026; VICI pricing announcement dated Aug. 5, 2026; Gaming and Leisure Properties second-quarter 2026 results, released July 30, 2026; both companies’ Forms 10-Q for the quarter ended June 30, 2026.
Disclosure. The author holds no position in any security mentioned. Structural research, not personalized investment advice. This article assigns no rating and no price target and makes no recommendation to transact.
Further dividend structure research is published at dividendforensics.com.
Benzinga Disclaimer: This article is from an unpaid external contributor. It does not represent Benzinga’s reporting and has not been edited for content or accuracy.
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VICI Properties zveřejnila výsledky za 2. čtvrtletí 2026. Na konferenčním hovoru vedení uvedlo, že k dispozici jsou výsledková zpráva a doplňující informace k výsledkům.
VICI Properties Inc. (VICI) Q2 2026 Earnings Call July 30, 2026 10:00 AM EDT
Company Participants
Samantha Gallagher - Executive VP, General Counsel & Secretary
Edward Pitoniak - CEO & Director
John W. Payne - President & COO
David Kieske - Executive VP, CFO & Treasurer
Gabriel Wasserman - MD of Business Development and VICI Experiential Credit Solutions (V.E.C.S.)
Erin Ferreri - Senior Vice President of Finance
Conference Call Participants
Caitlin Burrows - Goldman Sachs Group, Inc., Research Division
Greg McGinniss - Scotiabank Global Banking and Markets, Research Division
John DeCree - CBRE Securities, LLC, Research Division
Chris Darling - Green Street Advisors, LLC, Research Division
David Katz - Jefferies LLC, Research Division
Daniel Guglielmo - Capital One Securities, Inc., Research Division
Todd Thomas - KeyBanc Capital Markets Inc., Research Division
Presentation
Operator
Good day, ladies and gentlemen. Thank you for standing by. Welcome to the VICI Properties' Second Quarter 2026 Earnings Conference Call. [Operator Instructions] Please note that this conference is being recorded today, July 30, 2026. I will now turn the call over to Samantha Gallagher, General Counsel with VICI Properties.
Samantha Gallagher
Executive VP, General Counsel & Secretary
Thank you, operator, and good morning. Everyone should have access to the company's second quarter 2026 earnings release and supplemental information. The release and supplemental information can be found in the Investors section of the VICI Properties website at www.viciproperties.com.
Some of our comments today will be forward-looking statements within the meaning of the federal securities laws. Forward-looking statements, which are usually identified by the use of words such as will, believe, expect, should, guidance, intend, outlook, projects or other similar phrases are subject to numerous risks and uncertainties that could cause actual results to differ materially from what we expect. Therefore, you should exercise caution in interpreting and relying on them. I refer you to the company's SEC filings for a more detailed discussion of the risks that could
VICI Properties Inc. (VICI - Free Report) reported $1.06 billion in revenue for the quarter ended June 2026, representing a year-over-year increase of 5.7%. EPS of $0.62 for the same period compares to $0.82 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.04 billion, representing a surprise of +1.57%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.62.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how VICI Properties performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenues- Other income: $18.92 million compared to the $18.97 million average estimate based on three analysts. The reported number represents a change of -3.2% year over year.Revenues- Golf revenues: $11.99 million versus $11.51 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +7.2% change.Net Earnings Per Share (Diluted): $0.48 versus $0.72 estimated by two analysts on average.View all Key Company Metrics for VICI Properties here>>>
Shares of VICI Properties have returned +2.1% over the past month versus the Zacks S&P 500 composite's +1.9% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.