VICI Properties raises 2026 AFFO forecast

VICI Properties

29/04/2026 21:28

Overview

U.S. experiential REIT's Q1 revenue grew 3.5% yr/yr but missed analyst expectations

AFFO per share rose 4.5% yr/yr to $0.61 in Q1

Company raised full-year 2026 AFFO guidance and announced $1.5 bln mezzanine loan investment

Outlook

VICI raises 2026 AFFO guidance to $2,665 mln-$2,695 mln, or $2.44-$2.47 per share

Guidance excludes impact from pending acquisitions without announced closing dates or other non-recurring transactions

Company expects continued growth as it closes pending transactions and expands partner-driven model

Result Drivers

CECL ALLOWANCE IMPACT - Co said year-over-year increase in net income and FFO was driven by a $305.7 mln aggregate change in the CECL allowance

INVESTMENT ACTIVITY - Co cited expansion of strategic relationships and new investments, including $1.5 bln mezzanine loan for One Beverly Hills and pending Canadian casino acquisition, as drivers of growth

AFFO GROWTH - Co said AFFO per share rose 4.5% yr/yr, reflecting continued compounding of its business model

Company press release: ID:nBwcbHg6na

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Miss
$1 bln
$1.02 bln (11 Analysts)
Q1 AFFO Per Share
$0.61
Q1 Dividend
$0.45


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 18 "strong buy" or "buy", 7 "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 18.7% above its April 28 closing price of $28.65

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

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

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