VICI Properties Q2 revenue beats estimates on new tenants addition

Overview

• U.S. experiential REIT's Q2 revenue rose 5.7%, beating analyst expectations

• Q2 AFFO per share increased 4.6% year-over-year to $0.62

• Company added new tenants and completed U.S. and Canada acquisitions, including Club Med partnership

Outlook

• VICI Properties expects 2026 AFFO of $2,675 mln-$2,695 mln

• Company expects 2026 AFFO per diluted share of $2.45-$2.47

Result Drivers

• NEW TENANTS - Addition of Clairvest, Golden Entertainment, and Club Med expanded and diversified tenant roster

• PROPERTY ACQUISITIONS - Revenue growth driven by acquisitions of casino properties in Nevada and Canada

Company press release: ID:nBw677l43a

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 18 "strong buy" or "buy", 8 "hold" and no "sell" or "strong sell"

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

• Wall Street's median 12-month price target for VICI Properties Inc is $34.00, about 25.5% above its July 28 closing price of $27.10

• The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 10 three months ago

Reuters Recommended Reads

• July 28 - Caesars Entertainment Q2 revenue slightly beats estimates on regional growth

• July 28 - WP Carey Q2 revenue beats estimates on higher leases; AFFO outlook raised

• July 29 - US court revives lawsuit claiming AI software fueled price-gouging by New Jersey casinos

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

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