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VICI Properties Inc
VICI Properties Inc (VICI) is listed on NYSE and classified in REIT - Diversified, part of the Real Estate sector. It is headquartered in New York, United States and has 28 employees. The company is worth $26.45B and trades at 9.0x its earnings of the last twelve months; the median for its sector is 22.1x. Revenue was $4.01B in fiscal 2025, up 4.1% from the year before. Net income was $2.78B. The share price is 24.2% below its 52-week high of $31.69. It pays a dividend yielding 7.66%, and has raised its annual dividend for 6 years in a row in our records. 6 of the 38 superinvestors we track held it at the end of Q2 2026. The largest position belongs to Cliff Asness (AQR Capital Management), at $163.11M. In that quarter, 3 of them opened or added to the position and 3 reduced it. No open-market insider trades in it were filed over the last 30 days.
Written from the data on this page: SEC filings (13F, Form 4, annual reports) and market prices.
Year by year, from the annual reports; dividends from the payments themselves.
Bars are year-end balances; lines are what happened during the year.
Major managers that reported this stock in their latest 13F.
▼ -13.2% over 5Y.
today you would have $1,061.70▲ +6.2%
Dividends reinvested, splits accounted for. Past prices say what happened, not what will.
The last 8 closed years, each at that year’s closing price and reported numbers.
| Indicator | Median | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Year-end price | $28.12 | $29.21 | $31.88 | $32.40 | $30.11 | $25.50 | $25.55 | $18.78 | |
| P/E | 13.9x | 10.8x | 11.4x | 12.9x | 25.5x | 17.1x | 14.6x | 20.6x | 13.1x |
| P/S | 10.2x | 7.5x | 8.0x | 9.2x | 12.5x | 14.9x | 11.2x |
Seven formulas applied to the reported numbers, each with its assumption next to the result. None of them predicts a price.
Square root of 22.5 × earnings × book value. Blind to intangibles, so it undervalues software and brands.
Earnings growing 8.3% a year plus a 7.7% dividend yield. Growth capped at 25%.
Median P/E of 22.1 among peers in the sector.
Median P/E of 13.9 across this company’s own years on record.
Cash flow growing 8.3% a year for 10 years, discounted at 10%, then 2.5% forever.
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
Dividend growing 5.9% a year against a 7.4% required return, from the stock’s beta.
Companies of similar size in Real Estate, for comparison. The columns are the same ones above, in the same order.
| Stock | Price | P/E | P/B | Dividend yield | ROE | Market cap |
|---|---|---|---|---|---|---|
| EXRExtra Space Storage Inc. | $143.19 | 30.9x | 2.3x | 4.53% | 6.95% | $31.6B |
| IRMIron Mountain Inc | $110.66 | 79.0x | — | 3.13% | — | $32.94B |
| CCICrown Castle Inc | $78.83 | 31.5x | — | 5.39% | — | $34.45B |
| ESSEssex Property Trust Inc | $282.45 |
| 13.4x |
| 8.5x |
| P/B | 1.4x | 1.1x | 1.2x | 1.3x | 1.5x | 1.9x | 1.5x | 1.5x | 1.1x |
| EPS | $2.61 | $2.56 | $2.47 | $1.27 | $1.76 | $1.75 | $1.24 | $1.43 |
| Dividend yield | 4.99% | 6.28% | 5.81% | 5.05% | 4.63% | 4.58% | 4.93% | 4.59% | 5.32% |
| Payout | 70.82% | 67.66% | 66.25% | 65.18% | 118.11% | 78.41% | 71.77% | 94.52% | 69.86% |
| Profit margin | 68.22% | 69.28% | 69.59% | 69.59% | 42.97% | 67.16% | 72.76% | 61.02% | 58.31% |
| ROE | 8.92% | 9.98% | 10.09% | 9.95% | 5.10% | 8.37% | 9.47% | 6.85% | 7.68% |
Median of the years shown; P/E years above 200x are left out.
The average of the method families that answered, not of the seven numbers: four of the seven start from the same earnings per share.
6 methods answered, across 3 families.
Room for errors in the reported numbers.
+182.0% from the average.
Models, not forecasts, and not investment advice. How each formula works →
| 42.6x |
| 3.4x |
| 3.67% |
| 7.71% |
| $19.47B |
| BEKEKE Holdings Inc. | $17.24 | 28.7x | 1.9x | 1.62% | 7.00% | $18.94B |
| SBACSba Communications Corp | $178.39 | 18.7x | — | 2.80% | — | $18.93B |
