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NEW YORK--(BUSINESS WIRE)--VICI Properties Inc. (NYSE: VICI) (“VICI Properties,” “VICI” or the “Company”), an experiential real estate investment trust, today announced that John M. Sullivan has been appointed to the Company's Board of Directors (the “Board”) as an independent director, subject to and effective upon receipt of all applicable regulatory approvals. Once effective, Mr. Sullivan's appointment is expected to increase the size of the Board to eight directors. Upon joining the Board,.

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.

Featured Stories Five stocks we like better than VICI Properties 3 Under-the-Radar Defense Stocks With Record Backlogs This Korea ETF Has Soared, But the Rally May Not Be Over Why Guidewire’s Post-Earnings Plunge May Not Last Ride-Share Reckoning: Tesla Drives Into Uber’s Lane Want to see what other hedge funds are holding VICI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for VICI Properties Inc. (NYSE:VICI – Free Report).

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SummaryAmerica's REIT Dream Team balances five SWAN Anchors with five higher-yield, higher-risk Buoys to optimize total return and diversification.Buoy picks - REXR, COLD, VICI, NLCP, and LADR - offer compelling catalysts: industrial scarcity, food infrastructure, gaming recovery, cannabis normalization, and disciplined capital allocation.REXR, COLD, VICI, NLCP, and LADR each present 20–30%+ total return potential but require careful position sizing due to elevated risk and sector-specific headwinds.This portfolio is designed to thrive independently of macro events, focusing on individual REIT catalysts, prudent risk management, and compounding income.Looking for a helping hand in the market? Members of iREIT®+HOYA Capital get exclusive ideas and guidance to navigate any climate. Learn More »Pixfly/iStock via Getty Images

Last week, I introduced America's REIT Dream Team, a portfolio of 10 REITs that I divided into two groups: Anchors and Buoys.

In Part I, I focused on the five Anchors, the higher-quality, Sleep Well At Night (SWANs) REITs that I

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of REXR, COLD, VICI, NLCP, LADR, AMH, ELS, EPRT, EGP either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

NEW YORK--(BUSINESS WIRE)---- $VICI--VICI Properties Inc. (NYSE: VICI) (“VICI Properties”) announced today that its Board of Directors has declared a regular quarterly cash dividend of $0.46 per share of common stock for the period from July 1, 2026 to September 30, 2026, representing an annualized amount of $1.84 per share and a 2.2% increase from the current dividend rate. The dividend will be payable on October 8, 2026 to stockholders of record as of the close of business on September 17, 2026. About.

Three income investments can all generate the same monthly paycheck before retirement, but the capital each one demands reveals a gap wide enough to reshape your entire financial plan.

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Picture a $4,700 check landing in your account every month. That is $56,400 a year — roughly what a 59-year-old needs to bridge the gap between what Social Security will send and what a middle-class life actually costs, in the six years before Medicare kicks in.

Here is what almost nobody prices correctly. Three completely different income vehicles deliver that identical $56,400 paycheck. One requires $1,611,000. Another requires $594,000. That is a million-dollar spread for the same monthly deposit, and the cheaper path is the one that quietly fails first.

Gen Xers say their magic retirement number is $1.57 million, according to Northwestern Mutual’s 2025 Planning & Progress Study. Whether you need that much depends almost entirely on a structural decision most people make by accident.

Get the Free Retirement Income Guide →

This article walks through the yield tiers anchored by Schwab U.S. Dividend Equity ETF (NYSEARCA:SCHD), VICI Properties (NYSE:VICI | VICI Price Prediction), and Ares Capital (NASDAQ:ARCC), the capital each requires, and the trade-off at every level. The 10-year Treasury yield sits near 4.7%, the risk-free benchmark every idea below has to beat.

Conservative Tier: SCHD and the Cost of Sleeping at Night The steady anchor of the bunch. SCHD holds names that have paid and raised dividends for decades: QUALCOMM at 6.7% of assets, Texas Instruments at 5.9%, plus Coca-Cola, Merck, and Chevron. The annualized forward distribution runs about $1.01 per share, and with the price near $35, the yield lands in the low-3% range. It does not chase the highest payouts. That is the entire point.

At a 3.5% yield, replacing $56,400 requires about $1,611,000. The highest bar of the three — and it buys diversification, principal appreciation (SCHD returned 243% over the trailing 10 years), and dividends that historically grow every year. The concession is the size of the nest egg you need upfront.

Moderate Tier: VICI and Inflation-Linked Rent Checks The net-lease REIT counts Caesars, MGM, and the Venetian among its tenants. The quarterly dividend is $0.45, annualizing to $1.80 per share. With the stock near $27, that is a 7.0% yield.

The yield is only half the story. The underlying portfolio carries a weighted-average lease term of 39.6 years, with 2.0% annual rent escalators and CPI-linked inflation protection built in — exactly the structure a retiree wants supporting a monthly check.

Using 6% to stay conservative, the capital requirement is $940,000. The tradeoff is rate sensitivity: shares are down 14% over the past year while the 10-year yield sits in the 90th percentile of its 12-month range, showing how REIT prices bend when Treasuries compete for yield-hungry capital.

Aggressive Tier: ARCC and the High-Yield Tradeoff Ares Capital is the largest publicly traded business development company, with a $29.35 billion portfolio across 619 companies and 71% floating-rate exposure. The $0.48 quarterly dividend annualizes to $1.92, and at a share price near $20, the yield runs 9.8%. Management points to 17 consecutive years of stable or increasing regular quarterly dividends.

At 9.5%, the capital requirement lands at roughly $594,000 — about a third of the SCHD figure. That number is why this tier is so seductive to anyone doing the math at 59.

Then read the fine print. Q2 2026 core EPS of $0.47 came in one penny below the dividend. NAV per share slipped to about $19.40 from $19.90 at year-end 2025. Non-accrual loans rose to 2.4% at amortized cost. And BDC distributions are taxed at ordinary-income rates, not qualified-dividend rates. Those four facts are what a $1 million discount actually costs.

The Compounding Trap Most Readers Miss Lower yields often produce better long-term outcomes, because dividend growth compounds and a high flat payout does not.

VICI’s quarterly payout rose from $0.2875 in 2019 to $0.45 in 2026. ARCC’s regular quarterly dividend has been anchored at $0.48 since March 2023. A 3.5% yield growing 8% annually doubles your income in nine years. A 9.5% yield that stays flat leaves you exposed to inflation for the next 25.

Run that forward from age 59. The cheap build hands you $56,400 at 59 and $56,400 at 84 — except by then it buys roughly half as much. The expensive build starts at the same number and passes six figures somewhere in your seventies. Same monthly check on day one. Completely different retirements.

At 59, you do not get a second attempt at this. There is no decade left to recover from a structure that erodes. Fisher Investments’ retirement income guide walks through how to build income that grows with inflation instead of losing to it. Get your free copy here. (Sponsor)

What a 59-Year-Old Should Do Next Model spending, not salary. Replace actual household outflow, which is often 20% to 30% below gross salary once payroll taxes, retirement contributions, and commuting costs come out. Most people over-target and assume they can’t retire when they can. Run the tax delta. ARCC and VICI distributions are largely ordinary income; SCHD’s are mostly qualified. In a 22% or 24% federal bracket plus state taxes, the effective net yield on the aggressive tier narrows far more than the headline number suggests. Blend the tiers to your gap. An equal-weight portfolio across SCHD, VICI, and ARCC produces a blended yield near 6.5%, requiring roughly $870,000 to hit $56,400. That cuts the SCHD-only capital bar nearly in half while leaving room for compounding. All three are doable on your own. None are quick, and the third one is where the real money is won or lost. It is worth a second set of eyes before you commit the capital.

Six Years From Medicare Is Not the Time to Guess The difference between a portfolio that pays $4,700 a month forever and one that pays $4,700 a month until inflation hollows it out is not the yield on the screen. It is the structure underneath it — and that structure is very hard to change once the capital is deployed and you are no longer earning.

Fisher Investments has built retirement income plans for investors standing exactly where you are. Their retirement income guide is free, and it covers how to size and structure income that survives a 25-year retirement.

Get Your Free Retirement Income Guide →

Contact [email protected] for any questions or corrections.

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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

VICI Properties is upgraded to 'Strong Buy' due to its compelling 9.3x forward P/FFO valuation and 6.9% dividend yield. VICI benefits from long-term, CPI-protected triple net leases; parent guarantees; and concentrated high-quality tenants, supporting durable rental income. Growth catalysts include inflation-linked rent escalators, Las Vegas market developments, and potential NBA expansion opportunities.

It has been about a month since the last earnings report for VICI Properties Inc. (VICI - Free Report) . Shares have lost about 2.1% in that time frame, underperforming the S&P 500.

Will the recent negative trend continue leading up to its next earnings release, or is VICI Properties due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its latest earnings report in order to get a better handle on the important drivers.

VICI Properties' Q2 FFO Meets Estimates, Revenues Beat on Lease GrowthVICI Properties reported second-quarter 2026 AFFO per share of 62 cents, in line with the Zacks Consensus Estimate. The figure increased 4.6% year over year.

Total revenues rose 5.7% to $1.06 billion and surpassed the consensus mark of $1.04 billion by 1.57%. The top line benefited from sales-type leases and lease financing receivables, loans and securities.

VICI Properties Revenue Mix StrengthensIncome from sales-type leases increased 3.6% year over year to $549.2 million. Growth reflected contributions from the new Northfield Park lease and contractual rent escalations across the company’s portfolio.

Income from lease financing receivables, loans and securities rose 8.7% year over year to $478.4 million. Within this category, income from loans and securities surged 30.9% to $71.6 million, aided by higher returns from senior secured loans, mezzanine loans and preferred equity investments.

VICI Properties Investments Broaden Beyond GamingVICI Properties acquired the Carambola Beach Resort in St. Croix for $20.3 million and leased it to Club Med under a triple-net lease. The company also committed to providing about $55.2 million for redevelopment through a build-to-suit structure. The resort is expected to reopen in the fourth quarter of 2027.

The company also completed the acquisition of two gaming assets and two hotel assets in Alberta, Canada, for C$200.6 million. The properties were added to the PURE Master Lease, increasing annual rent by C$16.1 million. The lease was extended, leaving 25 years in its initial term.

VICI Properties Balance Sheet Supports Capital DeploymentVICI Properties ended the second-quarter with $288.1 million in cash and cash equivalents. Total liquidity was approximately $2.5 billion, including about $2.2 billion available under its revolving credit facility.

Total debt stood at roughly $17.2 billion, while the last-quarter annualized net leverage ratio was 4.9 times. The company maintained investment-grade credit ratings with stable outlooks from Moody’s, S&P and Fitch.

VICI Properties Updates 2026 AFFO OutlookManagement now expects full-year 2026 AFFO between $2.675-$2.695 billion compared with the previous range of $2.665-$2.695 billion. The updated range raises the lower end while retaining the upper end.

AFFO per share is projected between $2.45 and $2.47, up from the prior lower-end estimate of $2.44.

How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a upward trend in estimates revision.

VGM ScoresAt this time, VICI Properties has a poor Growth Score of F, however its Momentum Score is doing a bit better with a D. Charting a somewhat similar path, the stock has a grade of C on the value side, putting it in the middle 20% for value investors.

Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Interestingly, VICI Properties has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

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.

Read More Five stocks we like better than VICI Properties VIG, VYM, and VYMI: Which Vanguard Dividend ETF Is Right for You? 3 Closed-End Funds to Maximize Dividend Payments Rocket Lab’s Sell-Off Is Fading—Is It Finally Safe to Buy? $27 Billion in Buybacks: 3 Stocks Betting Their Strong Runs Aren’t Over Want to see what other hedge funds are holding VICI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for VICI Properties Inc. (NYSE:VICI – Free Report).

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VICI Properties (NYSE:VICI – Get Free Report) and Safehold (NYSE:SAFE – Get Free Report) are both real estate companies, but which is the superior investment? We will compare the two businesses based on the strength of their institutional ownership, analyst recommendations, dividends, profitability, earnings, risk and valuation.

Dividends VICI Properties pays an annual dividend of $1.80 per share and has a dividend yield of 6.8%. Safehold pays an annual dividend of $0.71 per share and has a dividend yield of 4.6%. VICI Properties pays out 69.8% of its earnings in the form of a dividend. Safehold pays out 43.8% of its earnings in the form of a dividend. Both companies have healthy payout ratios and should be able to cover their dividend payments with earnings for the next several years. VICI Properties has increased its dividend for 4 consecutive years and Safehold has increased its dividend for 1 consecutive years. VICI Properties is clearly the better dividend stock, given its higher yield and longer track record of dividend growth.

Earnings and Valuation This table compares VICI Properties and Safehold”s revenue, earnings per share and valuation.

Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio VICI Properties $4.10 billion 7.13 $2.78 billion $2.58 10.29 Safehold $385.55 million 2.82 $114.47 million $1.62 9.48 VICI Properties has higher revenue and earnings than Safehold. Safehold is trading at a lower price-to-earnings ratio than VICI Properties, indicating that it is currently the more affordable of the two stocks.

Insider & Institutional Ownership 97.7% of VICI Properties shares are held by institutional investors. Comparatively, 70.4% of Safehold shares are held by institutional investors. 0.3% of VICI Properties shares are held by company insiders. Comparatively, 3.8% of Safehold shares are held by company insiders. Strong institutional ownership is an indication that endowments, hedge funds and large money managers believe a stock is poised for long-term growth.

Profitability This table compares VICI Properties and Safehold’s net margins, return on equity and return on assets.

Net Margins Return on Equity Return on Assets VICI Properties 67.50% 9.66% 5.87% Safehold 27.70% 4.76% 1.62% Volatility & Risk VICI Properties has a beta of 0.65, meaning that its share price is 35% less volatile than the S&P 500. Comparatively, Safehold has a beta of 1.75, meaning that its share price is 75% more volatile than the S&P 500.

Analyst Recommendations This is a breakdown of current ratings and recommmendations for VICI Properties and Safehold, as provided by MarketBeat.com.

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score VICI Properties 0 7 6 0 2.46 Safehold 1 7 2 0 2.10 VICI Properties presently has a consensus price target of $31.29, suggesting a potential upside of 17.84%. Safehold has a consensus price target of $17.17, suggesting a potential upside of 11.83%. Given VICI Properties’ stronger consensus rating and higher possible upside, equities research analysts plainly believe VICI Properties is more favorable than Safehold.

Summary VICI Properties beats Safehold on 14 of the 17 factors compared between the two stocks.

(Get Free Report)

VICI Properties Inc. is an S&P 500 experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality and entertainment destinations, including Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las Vegas, three of the most iconic entertainment facilities on the Las Vegas Strip. VICI Properties owns 93 experiential assets across a geographically diverse portfolio consisting of 54 gaming properties and 39 other experiential properties across the United States and Canada. The portfolio is comprised of approximately 127 million square feet and features approximately 60,300 hotel rooms and over 500 restaurants, bars, nightclubs and sportsbooks. Its properties are occupied by industry-leading gaming, leisure and hospitality operators under long-term, triple-net lease agreements. VICI Properties has a growing array of real estate and financing partnerships with leading operators in other experiential sectors, including Bowlero, Cabot, Canyon Ranch, Chelsea Piers, Great Wolf Resorts, Homefield, and Kalahari Resorts. VICI Properties also owns four championship golf courses and 33 acres of undeveloped and underdeveloped land adjacent to the Las Vegas Strip. VICI Properties’ goal is to create the highest quality and most productive experiential real estate portfolio through a strategy of partnering with the highest quality experiential place makers and operators.

About Safehold (Get Free Report)

Safehold Inc. (NYSE: SAFE) is revolutionizing real estate ownership by providing a new and better way for owners to unlock the value of the land beneath their buildings. Having created the modern ground lease industry in 2017, Safehold continues to help owners of high quality multifamily, office, industrial, hospitality, student housing, life science and mixed-use properties generate higher returns with less risk. The Company, which is taxed as a real estate investment trust (REIT), seeks to deliver safe, growing income and long-term capital appreciation to its shareholders.

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You may not have heard of Vici Properties (VICI -0.23%), but it's an S&P 500 component and a dividend-paying stock -- with a recent whopping dividend yield of 6.8%. It's also worth your consideration for your long-term portfolio, whether you have $1,000, $100, or $100,000 to invest.

Image source: Getty Images.

First off, know that Vici Properties is a real estate investment trust (REIT), so it's required to pay out at least 90% of its taxable earnings as dividends. REITs generally specialize in one or more parts of the real estate market, such as shopping centers, apartments, or medical properties. Vici is focused on gaming, hospitality, wellness, and entertainment and leisure properties, with premier sites including Caesars Palace Las Vegas, MGM Grand, and the Venetian Resort Las Vegas.

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It operates far beyond Las Vegas, too, currently owning 103 properties across the United States and Canada, totaling more than 130 million square feet and including about 66,000 hotel rooms and more than 700 restaurants, bars, nightclubs, and sportsbooks. An intriguing detail is that it owns 33 acres of undeveloped land in Las Vegas -- which could deliver a lot of value one day.

Like other REITs, Vici uses triple-net leases for all of  its agreements, where the tenants pay real estate taxes, property insurance, and operating expenses. It recently sported an overall 100% occupancy rate, too, and 45% of its leases are subject to inflation-related escalation. Its average remaining lease term is around 40 years, reflecting a lot of stability.

Vici Properties may not be the fastest-growing stock, but if you're seeking substantial passive income, it's built to deliver it. Its payout has been growing at a respectable clip, too, with its recent annual payout of $1.80 up from $1.50 in 2022 and $1.17 in 2019.

Its valuation is compelling as well, with its forward-looking price-to-earnings (P/E) ratio of 9.2 well below its five-year average of 11.7. Give it a closer look.

Mihajlo Maricic/iStock via Getty Images

In 2025, Welltower's (WELL) ascendant stock price made senior housing the hottest sector in real estate. WELL's nosebleed pricing might have been an incentive for astute analysts to look elsewhere for senior housing gold. Starting last September, foolhardy bargain-hunters might have ignored that the too-levered National Healthcare Properties wasn't even publicly traded and started acquiring their NASDAQ-traded preferreds at 20%+ discounts to par value. On August 5th, National Healthcare Properties announced the redemption of all preferred shares at $25.00.

The recent activity at National Healthcare Properties (NHP) might be exemplary of how months of worry and doubt can culminate in just two days of financial victory before masochistic value investors shift focus to new bargain targets. Today we'll examine ways one might play one such target, the long-discounted VICI Properties (VICI).

Value in Triple Nets There is sustained demand for Triple Net REITs because they have historically produced high and rising dividend yields. A value investor might consider that each company's leases will all perform to contracted language, making the issues fungible. Value might be discerned through a comparison of prices to Net Asset Value, or Funds From Operations (FFO), or dividend yield. Given that, here's our peer set.

2MCAC

The peer set was chosen because each net lease real estate company's Mid Cap to Large Cap size affords ample liquidity, adding to the fungible consideration. In seeking value through consideration of P/FFO, NAV, or yield, VICI would be the value investor's choice in January 2026. But look at the returns six months later.

2MCAC

At the end of 2Q, with expanded discounts of P/FFO, price to NAV, and superior dividend yield, VICI Properties arguably remains the value investor's choice. An early January VICI purchase, however, would leave you sitting on a -2 ¼% total return while the others delivered positive double-digit returns, on average.

Here is where the value investor has to muster courage and remember that an issue's unpopularity was what created the eye-popping metrics in the first place. Canadians united in a boycott of travel to the U.S. VICI's Vegas tenants have struggled in the travel downturn and are being acquired by new operators. Refrigerated storage was way out of favor until it wasn't; Americold (COLD) +26.52% and Lineage, Inc. (LINE) +27.13% first half returns. Seller's remorse is an emotion investors possibly have when they abandon conviction to value metrics.

It is rough when prices stay down, but I offer some potential relief for the adventurous.

Trading The table above has an additional column that describes volatility in terms of price variance from low to high. VICI's price decline, of course, expands this measure of volatility, but an examination of day-to-day price movements could be enlightening. Perusing a time & sales screen on my QuoteStream reveals that 4 times this year, VICI's price dipped 5% or more from 2025's closing price and quickly rose to shrink the decline to 2% or less (for periods rising to positive returns). In August, the price has remained mired in the doldrums, down more than 5%.

SA Charting

Trading can be dismissed as speculation, but what I propose is informed speculation. If you feel shares are having an outsized decline on news or even no news, you can, temporarily, add to a position and sell the addition if prices normalize. Successful, active trading can enhance returns.

On Friday, VICI announced it completed new financing that would be used to repay debt due later this year. The terms of the new lending are now known, and on Monday shares declined as much as 2% to a new 52-week low. Time will tell if we've just witnessed a buying opportunity.

The Loneliness of the Long-Distance Value Investor If, like me, you have been at this informed speculation for quite some time, you know how crushing it is to give up on a value play just before the company is acquired or becomes a hot investment theme. My advice is to continuously reexamine the operational metrics, headwinds, and tailwinds. If the value proposition endures, hold your position. If the metrics are compelling and you think prices will be higher in the near future, consider the type of trading I've described here.

And remember, the Canadians always return, eh?

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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HomeDividends AnalysisDividend Quick Picks

SummaryFour S&P 500 'safer' dividend dogs - VICI, VZ, T, F - offer dividends from $1K invested exceeding share prices, supported by positive free cash flow.Analyst projections suggest top ten S&P 500 dividend dogs could deliver average net gains of 22% by August 2027, with volatility 38% below the market.Dividend dog strategy favors contrarian buys on pullbacks; seven of the top ten are already at 'fair price' levels, with further downside offering opportunities.Fourteen of fifty top-yield S&P 500 dividend dogs show negative free cash flow margins, flagging them as unsafe for income-focused investors.A January article by Dan Burrows in Kiplinger Investing newsletter initiated this expanded update.Looking for a portfolio of ideas like this one? Members of The Dividend Dog Catcher get exclusive access to our subscriber-only portfolios. Learn More »damedeeso/iStock via Getty Images

Foreword Introducing his Kiplinger Investing newsletter article, Dan Burrows noted, "Sometimes stocks with the highest dividend yields can be fool's gold. And this could be pertinent to some of the stocks with the highest dividend yields in the S&P

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of PFE, T either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of VICI either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Key Takeaways VICI added three tenants, closed the Golden Entertainment deal and completed Gamehost acquisition.VICI reported Q2 revenues of $1.06B and AFFO per share rose 4.6% to $0.62.VICI plans capital deployment through investments and loan portfolio opportunities, with $2.5B liquidity. VICI Properties Inc. (VICI - Free Report) used its second-quarter 2026 earnings call to highlight relationship-driven expansion, new tenant additions and continued capital deployment. Management emphasized a broader experiential real estate strategy while maintaining focus on long-term partnerships.

The company raised the low end of its 2026 AFFO outlook after completing several investments, including transactions with Golden Entertainment, Clairvest and Club Med.

VICI Expands Partner NetworkVICI added three tenants during the second quarter, bringing its roster to 16. President and COO John W. Payne said the additions reflected the company’s focus on experienced operators and relationship-based growth.

The company closed its $1.16 billion Golden Entertainment sale-leaseback, began its Northfield Park lease with Clairvest and completed the Gamehost real estate acquisition in Alberta.

Management also highlighted Club Med as an important strategic relationship. Payne said the Carambola Beach Resort investment represented VICI’s first build-to-suit investment and first Caribbean property acquisition.

VICI Properties Builds New ChannelsVICI Properties reported second-quarter 2026 revenues of $1.06 billion, up 5.7% year over year. AFFO per share increased 4.6% to $0.62, matching the Zacks Consensus Estimate. Revenues exceeded the Zacks Consensus Estimate of $1.04 billion.

CEO Edward Pitoniak said the reported quarter demonstrated the company’s strategy of growing by expanding relationships and increasing the scale of existing partnerships.

The company updated full-year 2026 AFFO guidance to $2.675-$2.695 billion or $2.45-$2.47 per share.

VICI Prioritizes Capital DeploymentVICI maintained its focus on investing available capital rather than repurchasing shares. CFO David Kieske said the company continues to find attractive opportunities through investments and its loan portfolio.

Kieske noted that total debt stood at $17.2 billion, with approximately $2.5 billion of liquidity at quarter's end. Net debt to annualized second-quarter adjusted EBITDA was approximately 4.9x.

The company also expanded its use of structured investments, with management noting that build-to-suit transactions can provide attractive solutions for growth-focused partners.

VICI Properties Tracks Market TrendsVICI Properties highlighted continued strength in Las Vegas, where management said gaming revenues, room rates and convention demand remained supportive.

Payne said regional gaming operators have improved offerings through investments, technology and stronger customer experiences. He described regional markets as benefiting from operational improvements and innovation.

During the Q&A session, analysts also questioned tenant trends and private-market ownership changes. Management said it continues to receive property-level financial information from tenants and reviews lease and loan investments regularly.

VICI Prepares for Future GrowthVICI said its relationship-driven model remains central to identifying new opportunities. Management pointed to Club Med’s expansion plans and potential future collaboration as an example of building partnerships over time.

Analysts asked about possible regional gaming opportunities and Caesars-related developments. Management said it continues discussions with partners while allowing ongoing transactions and operating priorities to develop.

The company’s second-quarter actions reflected continued portfolio expansion, while management maintained attention on liquidity, tenant relationships and disciplined investment.

Zacks Signals for VICIVICI carries a Zacks Rank #3 (Hold). The Zacks Rank reflects earnings estimate revisions and is designed to help indicate the potential for stock performance over a one- to three-month period. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The stock’s Style Scores include Value Score C, Growth Score F, Momentum Score B and VGM Score D. Zacks Style Scores evaluate value, growth and momentum characteristics, with higher grades indicating stronger relative characteristics.

The Zacks Rank can change as analysts revise earnings estimates following new company developments and financial results. Style Scores provide additional context alongside the Rank when evaluating stock characteristics.

Key Takeaways VICI Properties' Q2 AFFO rose 4.6% year over year to 62 cents per share.Revenue climbed 5.7% to $1.06 billion, led by sales-type leases and financing income.VICI Properties raised the lower end of its 2026 AFFO outlook to $2.675 billion. VICI Properties Inc. (VICI - Free Report) reported second-quarter 2026 adjusted funds from operations (AFFO) per share of 62 cents, in line with the Zacks Consensus Estimate. The figure increased 4.6% year over year.

Total revenues rose 5.7% to $1.06 billion and surpassed the consensus mark of $1.04 billion by 1.57%. The top line benefited from sales-type leases and lease financing receivables, loans and securities.

VICI’s Revenue Mix StrengthensIncome from sales-type leases increased 3.6% year over year to $549.2 million. Growth reflected contributions from the new Northfield Park lease and contractual rent escalations across the company’s portfolio.

Income from lease financing receivables, loans and securities climbed 8.7% year over year to $478.4 million. Within this category, income from loans and securities surged 30.9% to $71.6 million, aided by higher returns from senior secured loans, mezzanine loans and preferred equity investments.

VICI’s Investments Broaden Beyond GamingThe company acquired the Carambola Beach Resort in St. Croix for $20.3 million and leased it to Club Med under a triple-net lease. VICI also committed to providing about $55.2 million for redevelopment through a build-to-suit structure. The resort is targeted to reopen in the fourth quarter of 2027.

VICI also completed the acquisition of two gaming assets and two hotel assets in Alberta, Canada, for C$200.6 million. The properties were added to the PURE Master Lease, increasing annual rent by C$16.1 million. The lease was extended, leaving 25 years in its initial term.

VICI’s Balance Sheet Supports Capital DeploymentVICI ended the second-quarter with $288.1 million in cash and cash equivalents. Total liquidity was approximately $2.5 billion, including about $2.2 billion available under its revolving credit facility.

Total debt stood at roughly $17.2 billion, while the last-quarter annualized net leverage ratio was 4.9 times. The company maintained investment-grade credit ratings with stable outlooks from Moody’s, S&P and Fitch.

VICI Updates 2026 AFFO OutlookManagement now expects full-year 2026 AFFO between $2.675-$2.695 billion compared with the previous range of $2.665-$2.695 billion. The updated range raises the lower end while retaining the upper end.

AFFO per share is projected between $2.45 and $2.47, up from the prior lower-end estimate of $2.44. The Zacks Consensus Estimate is presently pegged at $2.46, within the projected range.

Currently, the company carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Performance of Other REITsSL Green Realty Corp. (SLG - Free Report) reported second-quarter 2026 FFO per share of $1.43, which beat the Zacks Consensus Estimate of $1.19 by 20.17%. However, the metric declined 12.3% from $1.63 in the year-ago quarter.

Net rental revenues of $171.85 million surpassed the consensus estimate of $171.48 million by 0.22% and increased 16.5% year over year. SLG’s results reflected stronger Manhattan leasing, higher occupancy and growth in same-store cash net operating income.

Crown Castle Inc. (CCI - Free Report) reported second-quarter 2026 adjusted funds from operations (AFFO) per share of $1.13, up 10.8% year over year. The metric surpassed the Zacks Consensus Estimate of $1.00 by 13%.

Results reflected a rise in AFFO per share, driven by a decrease in interest expense and an increase in interest income resulting from the use of proceeds from the sale of CCI’s Fiber and Small Cell businesses.

Note: Anything related to earnings presented in this write-up represents FFO, a widely used metric to gauge the performance of REITs.

VICI Properties Inc. (VICI - Free Report) came out with quarterly funds from operations (FFO) of $0.62 per share, in line with the Zacks Consensus Estimate . This compares to FFO of $0.6 per share a year ago. These figures are adjusted for non-recurring items.

A quarter ago, it was expected that this company would post FFO of $0.61 per share when it actually produced FFO of $0.61, delivering no surprise.

Over the last four quarters, the company has surpassed consensus FFO estimates just once.

VICI Properties, which belongs to the Zacks REIT and Equity Trust - Other industry, posted revenues of $1.06 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 1.57%. This compares to year-ago revenues of $1 billion. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future FFO expectations will mostly depend on management's commentary on the earnings call.

VICI Properties shares have lost about 3.6% since the beginning of the year versus the S&P 500's gain of 8.5%.

What's Next for VICI Properties?While VICI Properties has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's FFO outlook. Not only does this include current consensus FFO expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of estimate revisions.

Ahead of this earnings release, the estimate revisions trend for VICI Properties was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus FFO estimate is $0.62 on $1.06 billion in revenues for the coming quarter and $2.46 on $4.19 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, REIT and Equity Trust - Other is currently in the top 25% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, Innovative Industrial Properties (IIPR - Free Report) , is yet to report results for the quarter ended June 2026. The results are expected to be released on August 3.

This company is expected to post quarterly earnings of $1.79 per share in its upcoming report, which represents a year-over-year change of +4.7%. The consensus EPS estimate for the quarter has been revised 1.5% higher over the last 30 days to the current level.

Innovative Industrial Properties' revenues are expected to be $66.5 million, up 5.8% from the year-ago quarter.

NEW YORK--(BUSINESS WIRE)---- $VICI--VICI Properties Inc. (NYSE: VICI) (“VICI Properties”, “VICI” or the “Company”), an experiential real estate investment trust, today reported results for the quarter ended June 30, 2026. All per share amounts included herein are on a per diluted common share basis unless otherwise stated. Second Quarter 2026 Financial and Operating Highlights Total revenues increased 5.7% year-over-year to $1.1 billion Net income attributable to common stockholders decreased 39.1% year.

Key Takeaways VICI's Q2 revenues are expected to rise 4.1% year over year to $1.04 billion.CPI-linked rent escalations and long-term leases are likely to support stable revenue growth.AFFO per share is expected to grow 3.3% to 62 cents, while debt may weigh on results. VICI Properties Inc. (VICI - Free Report) is slated to report second-quarter 2026 earnings results on July 29, after the closing bell. Its quarterly results are expected to have exhibited growth in revenues and adjusted funds from operations (AFFO) per share.

In the last reported quarter, this New York-based experiential REIT, which owns the portfolios of market-leading gaming, hospitality and entertainment destinations, reported an AFFO per share of 61 cents, meeting the Zacks Consensus Estimate. The quarter featured steady rent-led growth and active capital deployment.

Over the preceding four quarters, the company’s AFFO per share met the Zacks Consensus Estimate on one occasion and surpassed it in the remaining three quarters, the average surprise being 0.42%. This is depicted in the graph below:

Factors at Play & Projections for VICIIn the second quarter, VICI's long-term triple-net leases with its established operators are likely to have contributed to stable revenue generation, supporting its top-line growth.

VICI Properties’ lease agreements feature a rent roll with CPI-linked escalations. This structure is expected to have ensured the company’s cash flow growth alongside inflation.

VICI Properties has diversified its portfolio beyond gaming, which includes investments in other non-gaming experiential assets like Chelsea Piers and Lucky Strike Entertainment. Its ability to execute growth strategies effectively is likely to have demonstrated strong management and positioned the company for sustained success, yielding revenue growth.

The Zacks Consensus Estimate for quarterly revenues is pegged at $1.04 billion, which suggests growth of 4.1% from the prior-year quarter’s reported figure.
The company’s activities during the to-be-reported quarter were adequate to garner analysts’ confidence. The Zacks Consensus Estimate for the quarterly AFFO per share increased a cent to 62 cents over the past three months. The figure indicates growth of 3.3% from the year-ago quarter’s reported figure.

However, VICI Properties’ high debt and interest expenses are expected to have cast a pall on the company’s performance to some extent.

What Our Quantitative Model Predicts for VICIOur proven model does not conclusively predict a surprise in terms of AFFO per share for VICI Properties this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an AFFO beat, which is not the case here.

VICI Properties currently has an Earnings ESP of -0.35% and carries a Zacks Rank of 3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Stocks That Warrant a LookHere are two stocks from the broader REIT industry — Extra Space Storage (EXR - Free Report) and Host Hotels & Resorts (HST - Free Report) — that you may want to consider, as our model shows that these have the right combination of elements to report a surprise this quarter.

EXR, which is scheduled to report quarterly results on July 28, has an Earnings ESP of +0.39% and a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.

Host Hotels is slated to report quarterly numbers on Aug. 5. HST has an Earnings ESP of +1.73% and carries a Zacks Rank of 2 at present.

Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.

HomeStock IdeasQuick Picks & Lists

SummaryI prioritize a TOLL+M investment model—tangible assets, oligopoly advantages, low incremental CapEx, durable cash flows, and macro tailwinds—to build resilient portfolios.Jamie Dimon highlights that even with 2% inflation, 10-year yields should remain above 4.0-4.5% due to risk premiums, supporting my 'run-it-hot' thesis.The S&P 500 prices in a 'good outcome' with little margin of safety; I see greater opportunity in selective stock picking over broad index exposure.I favor stocks like LB, TPL, VICI, UNP, and CME for their inflation protection, strong balance sheets, and secular tailwinds, mitigating risks from elevated rates and valuations.This idea was discussed in more depth with members of my private investing community, Main Street Alpha. Learn More » Nisian Hughes/DigitalVision via Getty Images

Introduction The algorithm on social media is fascinating because (depending on the website), it quickly adjusts based on your behavior. So, the second you watch an interview with an important person in finance, your entire timeline/homepage is flooded with similar interviews.

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of LB, TPL, UNP, CME either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

In the latest trading session, VICI Properties Inc. (VICI - Free Report) closed at $26.73, marking a +1.56% move from the previous day. This move outpaced the S&P 500's daily gain of 0.05%. Meanwhile, the Dow gained 0.46%, and the Nasdaq, a tech-heavy index, lost 0.64%.

The company's stock has dropped by 0.79% in the past month, falling short of the Finance sector's gain of 1.74% and the S&P 500's gain of 0.61%.

Market participants will be closely following the financial results of VICI Properties Inc. in its upcoming release. The company plans to announce its earnings on July 29, 2026. The company's upcoming EPS is projected at $0.62, signifying a 3.33% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $1.04 billion, showing a 4.08% escalation compared to the year-ago quarter.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.46 per share and a revenue of $4.19 billion, representing changes of +3.36% and +4.51%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for VICI Properties Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 0.1% rise in the Zacks Consensus EPS estimate. At present, VICI Properties Inc. boasts a Zacks Rank of #3 (Hold).

Looking at valuation, VICI Properties Inc. is presently trading at a Forward P/E ratio of 10.69. This denotes a discount relative to the industry average Forward P/E of 13.51.

The REIT and Equity Trust - Other industry is part of the Finance sector. With its current Zacks Industry Rank of 60, this industry ranks in the top 25% of all industries, numbering over 250.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

Posted by Defense World Staff on Jul 23rd, 2026

Andra AP fonden reduced its holdings in VICI Properties Inc. (NYSE:VICI – Free Report) by 73.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 159,784 shares of the company’s stock after selling 450,416 shares during the quarter. Andra AP fonden’s holdings in VICI Properties were worth $4,365,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Johnson Financial Group Inc. grew its holdings in VICI Properties by 20.3% during the first quarter. Johnson Financial Group Inc. now owns 76,097 shares of the company’s stock worth $2,109,000 after acquiring an additional 12,851 shares during the period. Convergence Investment Partners LLC grew its stake in shares of VICI Properties by 77.7% during the 1st quarter. Convergence Investment Partners LLC now owns 58,828 shares of the company’s stock worth $1,607,000 after purchasing an additional 25,720 shares during the period. Dimensional Fund Advisors LP boosted its holdings in VICI Properties by 2.3% during the first quarter. Dimensional Fund Advisors LP now owns 15,457,602 shares of the company’s stock worth $422,294,000 after buying an additional 344,355 shares in the last quarter. Parallel Advisors LLC boosted its holdings in VICI Properties by 49.7% during the first quarter. Parallel Advisors LLC now owns 16,009 shares of the company’s stock worth $437,000 after buying an additional 5,315 shares in the last quarter. Finally, KBC Group NV grew its position in VICI Properties by 24.1% during the first quarter. KBC Group NV now owns 262,189 shares of the company’s stock worth $7,163,000 after buying an additional 50,865 shares during the period. 97.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth A number of equities research analysts recently weighed in on VICI shares. Deutsche Bank Aktiengesellschaft set a $31.00 price target on VICI Properties in a report on Monday, May 4th. Wells Fargo & Company dropped their price target on VICI Properties from $29.00 to $27.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 15th. Scotiabank cut their price target on VICI Properties from $32.00 to $29.00 and set a “sector perform” rating for the company in a research note on Thursday, June 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of VICI Properties in a research report on Wednesday, June 24th. Finally, Royal Bank Of Canada initiated coverage on shares of VICI Properties in a research note 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. According to MarketBeat, VICI Properties presently has an average rating of “Hold” and a consensus price target of $31.77.

Check Out Our Latest Report on VICI

VICI Properties Stock Performance VICI stock opened at $26.59 on Thursday. The company has a market cap of $28.43 billion, a P/E ratio of 9.11 and a beta of 0.65. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.62 and a quick ratio of 3.62. VICI Properties Inc. has a 1 year low of $25.82 and a 1 year high of $34.01. The stock’s fifty day moving average price is $27.32 and its 200-day moving average price is $28.11.

VICI Properties (NYSE:VICI – Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.11. VICI Properties had a net margin of 76.83% and a return on equity of 11.05%. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the business posted $0.58 earnings per share. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. VICI Properties has set its FY 2026 guidance at 2.440-2.470 EPS. On average, equities analysts forecast that VICI Properties Inc. will post 2.46 earnings per share for the current year.

VICI Properties Dividend Announcement The business also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Thursday, June 18th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 6.8%. The ex-dividend date of this dividend was Thursday, June 18th. VICI Properties’s dividend payout ratio (DPR) is presently 61.64%.

About VICI Properties (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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Posted by Defense World Staff on Jul 20th, 2026

Aviance Capital Partners LLC bought a new stake in VICI Properties Inc. (NYSE:VICI – Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 32,813 shares of the company’s stock, valued at approximately $896,000.

Several other institutional investors also recently modified their holdings of VICI. Norges Bank bought a new stake in shares of VICI Properties during the fourth quarter worth approximately $537,676,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in VICI Properties by 31,134.9% in the fourth 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 acquiring an additional 10,185,477 shares during the last quarter. Man Group plc grew its holdings in VICI Properties by 100.6% during the 4th quarter. Man Group plc now owns 11,406,537 shares of the company’s stock worth $320,752,000 after acquiring an additional 5,720,867 shares during the period. Voloridge Investment Management LLC grew its holdings in VICI Properties by 247.8% during the 4th quarter. Voloridge Investment Management LLC now owns 7,792,028 shares of the company’s stock worth $219,112,000 after acquiring an additional 5,551,620 shares during the period. Finally, SG Americas Securities LLC raised its position in shares of VICI Properties by 1,001.4% during the 1st quarter. SG Americas Securities LLC now owns 5,659,186 shares of the company’s stock valued at $154,609,000 after acquiring an additional 5,145,372 shares during the last quarter. Institutional investors and hedge funds own 97.71% of the company’s stock.

VICI Properties Trading Up 0.0% Shares of NYSE VICI opened at $26.88 on Monday. VICI Properties Inc. has a twelve month low of $25.82 and a twelve month high of $34.01. The stock has a market cap of $28.74 billion, a price-to-earnings ratio of 9.21 and a beta of 0.65. The company has a quick ratio of 3.62, a current ratio of 3.62 and a debt-to-equity ratio of 0.59. The company’s fifty day moving average is $27.44 and its 200-day moving average is $28.15.

VICI Properties (NYSE:VICI – Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.11. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. VICI Properties had a net margin of 76.83% and a return on equity of 11.05%. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.58 EPS. VICI Properties has set its FY 2026 guidance at 2.440-2.470 EPS. Equities research analysts predict that VICI Properties Inc. will post 2.46 EPS for the current year.

VICI Properties Dividend Announcement The firm also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, June 18th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.7%. VICI Properties’s dividend payout ratio (DPR) is currently 61.64%.

Analysts Set New Price Targets A number of research analysts have recently weighed in on VICI shares. Barclays increased their price target on VICI Properties from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Tuesday, April 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of VICI Properties in a report on Wednesday, June 24th. Royal Bank Of Canada initiated coverage on VICI Properties in a research note on Thursday, June 25th. They issued a “sector perform” rating and a $29.00 target price on the stock. Deutsche Bank Aktiengesellschaft set a $31.00 target price on VICI Properties in a report on Monday, May 4th. Finally, Wells Fargo & Company decreased their target price on VICI Properties from $29.00 to $27.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 15th. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, VICI Properties has a consensus rating of “Moderate Buy” and a consensus price target of $32.21.

Check Out Our Latest Research Report on VICI

VICI Properties Company 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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The constant barrage of artificial intelligence driving the hyperscaler complex massive spending spree is starting to fatigue many investors. With a war still in progress, albeit on a regional basis, in two sections of the world and government spending exploding the deficit higher, many across Wall Street are starting to agree that something has to give at some point, and it may be soon. With second-quarter earnings in full force, they need to come in strong with positive forward guidance. With the S&P 500 trading at 25.7 times trailing earnings, valuations as high as those of the dot-com era, many investors may be starting to wobble. Add in the forward 12-month earnings price to earnings at 23, which is also above the historical average of 18, and trouble could be brewing.

Hopes for rate cuts are effectively out the window, at least for now, as sticky inflation and higher energy prices could crimp corporate margins, and a cooling labor market adds in all the ingredients for a 10% sell-off. Add in the fact that July is a notoriously troublesome month for momentum investors, and many may want to derisk a high-beta portfolio while staying invested. We screened our 24/7 Wall St. defensive high-yield stock database for stocks investors could shift to now that are likely to hold up far better during a 10% or bigger sell-off. Five of our favorite companies hit our screens, and all are Buy-rated at the top Wall Street firms we cover, and all have paid dependable dividends uninterrupted for years.

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Altria This is one of the world’s largest producers and marketers of tobacco, cigarettes, and related products. This tobacco company offers value investors a great entry point. Altria (NYSE:MO | MO Price Prediction) manufactures and sells smokable and oral tobacco products in the United States. Altria is the undisputed yield leader among consumer staples Dividend Kings.

Altria leads its peer group with a high yet secure 5.91% dividend yield, backed by a stable 82% cash payout ratio. The company’s core strength relies on Marlboro, which holds a durable 40% share of the U.S. cigarette market and leverages pricing power to offset volume declines. Additionally, Altria’s low beta of 0.51 provides defensive, low-volatility insulation during broader market downturns.

The company primarily sells cigarettes under the Marlboro brand, as well as:

Cigars and pipe tobacco, principally under the Black & Mild and Middleton brands Moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands on! Oral nicotine pouches e-vapor products under the NJOY ACE brand It sells its tobacco products primarily to wholesalers, including distributors and large retail organizations, such as chain stores.

Altria used to own over 10% of Anheuser-Busch InBev (NYSE: BUD), the world’s largest brewer. Last year, the company sold 35 million of its 197 million shares through a global secondary offering. That represents 18% of its holdings but still leaves 8% of the outstanding shares in its back pocket. Altria also announced a $2.4 billion stock repurchase plan partially funded by the sale.

UBS has a Buy rating with a $79 price target.

Enbridge Enbridge (NYSE:ENB) owns and operates pipelines throughout Canada and the United States. This is an off-the-radar idea based in Canada, poised to break out to new highs soon, and pays a rich 6.96% dividend. Enbridge operates as an energy infrastructure company. Enbridge announced its 31st consecutive annual dividend increase in 2026, lifting the payout by another 3%, and has paid dividends for over 70 years. With roughly 98% of its annual earnings backed by long-term, fixed-rate contracts and regulated rate structures, the company stands out as one of the most defensive and reliable plays in the energy infrastructure sector. The company is the largest natural gas utility in North America by volume, delivering about 9.3 billion cubic feet daily to 7.1 million customers with a toll-road-like model that’s less exposed to price swings.

The company operates through five segments:

Liquids Pipelines Gas Transmission and Midstream Gas Distribution and Storage Renewable Power Generation Energy Services The Liquids Pipelines segment operates pipelines and related terminals in Canada and the United States to transport various grades of crude oil and other liquid hydrocarbons.

The Gas Transmission and Midstream segment invests in natural gas pipelines and gathering and processing facilities in Canada and the United States.

The Gas Distribution and Storage segment is involved in natural gas utility operations, serving residential, commercial, and industrial customers in Ontario, as well as in natural gas distribution and energy transportation activities in Quebec.

The Renewable Power Generation segment operates power-generating assets, including wind, solar, geothermal, and waste heat recovery facilities, as well as transmission assets, in North America and Europe.

The Energy Services segment provides energy marketing services to refiners, producers, and other customers, as well as physical commodity marketing and logistical services in Canada and the United States.

Royal Bank of Canada has an Outperform rating and a $79 target price.

Realty Income This real estate investment trust has paid monthly dividends consistently for years. Top-rated Realty Income (NYSE:O) owns over 15,500 properties with a 98.9% occupancy rate across 1,761 tenants in 92 industries, many in strong categories like grocery stores and dollar stores. Occupancy has never fallen below 96.6% this century, even during the Great Recession and the COVID-19 pandemic. This is an ideal stock for growth and income investors seeking a safer contrarian idea for the rest of 2026, with a 5.12% dividend yield. Realty Income is an S&P 500 company that acquires and manages freestanding commercial properties that generate rental revenue under long-term net lease agreements with its commercial clients.

It is engaged in a single business activity: leasing property to clients, generally on a net basis. This business activity spans various geographic boundaries and encompasses a range of property types and clients across multiple industries. Widely considered the gold standard of monthly dividend stocks, Realty Income has been paying dividends since 1969. It has paid 667 consecutive monthly dividends as of early 2026 and increased its dividend 132 times since its 1994 IPO.

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The company owns or holds interests in approximately 15,621 properties in all 50 states and:

United Kingdom France Germany Ireland Italy Portugal Spain With clients operating in 89 industries, its property types include retail, industrial, gaming, and other categories such as agriculture and office.

Its primary industry concentrations include:

Grocery stores Convenience stores Dollar stores Drug stores Home improvement stores Restaurants Quick service Jefferies has a Buy rating with a $69 target price.

VICI Properties Vici Properties (NYSE:VICI) is a real estate investment trust based in New York City that specializes in casino and entertainment properties, paying a stellar dividend yield of 6.88%. This is one of the top picks across Wall Street in the net lease group and is ideal for more conservative investors seeking gaming exposure and a substantial dividend. It is an S&P 500 experiential REIT with one of the largest portfolios of market-leading gaming, hospitality, and entertainment destinations, including three iconic entertainment facilities on the Las Vegas Strip:

Caesars Palace Las Vegas MGM Grand The Venetian Resort Las Vegas VICI Properties owns 93 experiential assets across a geographically diverse portfolio of 54 gaming properties and 39 other experiential properties across the United States and Canada. The portfolio comprises approximately 127 million square feet and features approximately 60,300 hotel rooms, as well as over 500 restaurants, bars, nightclubs, and sportsbooks. Gaming revenue has proven remarkably resilient in recent downturns, and its triple-net lease structure means it collects rent regardless of tenant profitability swings.

Its properties are occupied by industry-leading gaming, leisure, and hospitality operators under these long-term, triple-net lease agreements.

VICI Properties has a growing array of real estate and financing partnerships with leading operators in other experiential sectors, including:

Bowlero Cabot Canyon Ranch Chelsea Piers Great Wolf Resorts Homefield Kalahari Resorts VICI Properties also owns four championship golf courses and 33 acres of undeveloped and underdeveloped land adjacent to the Las Vegas Strip.

The Bank of America price target for the Buy-rated shares is $34.

Verizon Verizon Communications (NYSE:VZ) is an American multinational telecommunications company that continues to offer tremendous value. It trades at 9.13 times its estimated 2026 earnings and pays a 6.66% dividend. Verizon provides a range of communications, technology, information, and entertainment products and services to consumers, businesses, and government entities worldwide.

Verizon’s trailing 12-month interest coverage ratio is 4.6× to 5×, providing ample cushion for dividend payments. With a very predictable revenue stream from telecom services, the company has less exposure to commodity cycles. In addition, the large scale helps in financing and absorbing shocks. Publish rep[orts indicate that management has increased the dividend for 20 consecutive years and expects at least $21.5 billion in free cash flow this year.

It operates in two segments:

Verizon Consumer Group Verizon Business Group The Consumer segment provides wireless services across the United States through Verizon and TracFone networks, as well as through wholesale and other arrangements. It also provides fixed wireless access (FWA) broadband through its wireless networks and related equipment and devices, such as:

Smartphones Tablets Smartwatches Other wireless-enabled connected devices The segment also offers wireline services in the Mid-Atlantic and northeastern United States through its fiber-optic network, Verizon Fios product portfolio, and copper-based network.

The Business segment provides wireless and wireline communications services and products, including:

FWA broadband Data Video and conferencing Corporate networking Security and managed network Local and long-distance voice Network access services to deliver various IoT services and products to businesses, government customers, and wireless and wireline carriers in the United States and internationally.

Raymond James has an Outperform rating with a $56 target price.

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