VICI Properties Inc (VICI)

In the past six months, VICI's stock has trended down by 3.88%. The company has consistently increased its quarterly dividend, with the most recent increase to $0.45 per share, representing a $1.80 annualized dividend and a yield of 5.8%. Key events include a dividend increase to $0.45 per share, Q2 2025 earnings with revenues increasing 4.6% year-over-year and adjusted FFO (AFFO) per share of $0.60, Q1 2025 earnings with an EPS of $0.58, and Q4 2024 and full-year 2024 results with revenues increasing 4.7% year-over-year and AFFO increasing 5.4% year-over-year. Analysts have a consensus rating of "Moderate Buy" for VICI, with an average target price of $36.08.

While specific detailed information on demand seasonality for VICI Properties' products and services is not explicitly provided, the nature of its experiential real estate portfolio suggests some inherent seasonality. Gaming, hospitality, wellness, entertainment, and leisure destinations can experience fluctuations in demand based on holidays, vacation seasons, and major events. However, VICI's business model, relying on long-term, triple-net lease agreements, aims to provide stable and consistent income streams, mitigating the direct impact of short-term demand fluctuations on its revenue.

VICI Properties Inc. is an S&P 500 experiential real estate investment trust (REIT) specializing in the acquisition, development, and management of gaming, hospitality, wellness, entertainment, and leisure destinations. Formed in 2017 as a spin-off from Caesars Entertainment Corporation, VICI's core business segments include Gaming and Hospitality Real Estate and Non-Gaming Real Estate. The company generates revenue primarily through long-term, triple-net lease agreements, where tenants are responsible for property taxes, insurance, and maintenance. Major properties in its portfolio include Caesars Palace Las Vegas and MGM Grand.

VICI Properties owns a geographically diverse portfolio of 93 experiential assets across the United States and Canada, consisting of 54 gaming properties and 39 other experiential properties. These properties comprise approximately 127 million square feet, featuring around 60,300 hotel rooms and over 500 restaurants, bars, nightclubs, and sportsbooks. VICI's properties are located in 15 U.S. states and one Canadian province.

VICI Properties maintains a strong reputation as an S&P 500 experiential real estate investment trust. The company emphasizes its commitment to corporate responsibility, releasing annual Corporate Responsibility Reports that highlight initiatives in sustainability, social impact, and corporate governance. VICI's business model, based on long-term triple-net lease agreements with high-quality tenants, contributes to its perceived stability and predictable income streams. The company boasts a 100% rent collection record since its inception in 2017.

Institutional investors and hedge funds own a significant portion of VICI Properties' stock, with institutional ownership reported as high as 97.71% to 99.71%. Major institutional owners include Vanguard Group Inc. and BlackRock, Inc. Individual insider ownership is relatively small, around 0.2% to 0.29% of the stock. Edward Pitoniak, the CEO, owned 692,542 shares as of February 28, 2022, making him the largest individual non-institutional stockholder at that time.