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VICI Properties Inc. (VICI) Stock Analysis

Recovery setup

HoldModerate Confidence

Real Estate · REIT - Diversified

Hold if already holding. Not a fresh buy at $28.97, but acceptable to hold if already in. Reasons: Concentration risk — Tenant: Caesars (39.0%); Concentration risk — Tenant: MGM (35.0%).

VICI Properties is an experiential gaming REIT with 93 properties (54 gaming, 39 other experiential) across 26 U.S. states and Canada, 100% leased with a weighted average term of 39.6 years. Over $4.0B in 2025 revenues come almost entirely from triple-net lease rent. Caesars... Read more

$28.97+6.7% A.UpsideScore 5.6/10#3 of 7 REIT - Diversified
Stop $28.05Target $30.87(analyst − 10%)A.R:R 1.2:1
Analyst target$34.30+18.4%23 analysts
$30.87our TP
$28.97price
$34.30mean
$39

Hold if already holding. Not a fresh buy at $28.97, but acceptable to hold if already in. Reasons: Concentration risk — Tenant: Caesars (39.0%); Concentration risk — Tenant: MGM (35.0%). Chart setup: Death cross but MACD improving, RSI 63. Maintain position. Not compelling to add more. Score 5.6/10, moderate confidence.

Passes 5/7 gates (positive momentum, clean insider activity, no SEC red flags, earnings proximity no date, semi cycle peak clear). Fails on favorable risk/reward ratio. Suitability: moderate.

Val5.9Qual6.7Grw2.9Mom5.5Sent6.8Ins5.0Peer5.9Tech4.1Risk8.05.6OVERALL

Thesis

Rewards
Strong earnings beat streak (3/4)
Margin of safety: 35%
Risks
Concentration risk — Tenant: Caesars (39.0%)
Concentration risk — Tenant: MGM (35.0%)
Thin upside margin: 6.7%

Key Metrics

P/E (TTM)9.8
P/E (Fwd)9.7
Mkt Cap$30.6B
EV/EBITDA13.2
Profit Mgn69.3%
ROE10.2%
Rev Growth3.8%
Beta0.73
Dividend6.23%
Rating analysts31

Quality Signals

Piotroski F8/9

Options Flow

P/C0.80neutral
IV38%normal

Concentration Risks(10-K Item 1A)

  • HIGHTenantCaesars39%
    10-K Item 1: 'Caesars and MGM, our two largest tenants representing 39% and 35%, respectively, of our annualized rent as of December 31, 2025'
  • HIGHTenantMGM35%
    10-K Item 1: 'Caesars and MGM, our two largest tenants representing 39% and 35%, respectively, of our annualized rent as of December 31, 2025'
  • HIGHGeographicLas Vegas Strip49%
    10-K Item 1A: 'Our properties on the Las Vegas Strip generated approximately 49% of our total revenues for the year ended December 31, 2025'

Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. Full disclaimer

Rating Breakdown

1 floor-breaker

Growth below the gate floor. Component breakdown shows what dragged the score down.static

Earnings Growth
2.2
Revenue Growth
3.5
GatesA.R:R 1.2 < 1.5@spotDeath cross (50MA < 200MA)Momentum 5.5>=5.5Insider activity: OKNo SEC red flagsEARNINGS PROXIMITY NO DATESEMI CYCLE PEAK CLEARRecoverySuitability: Moderate
RSI
63 · Neutral
↑ 20D MA↑ 50D MA↓ 200D MADEATH CROSSSupport $27.29Resistance $29.51

Price Targets

$28
$31
A.Upside+6.6%
A.R:R1.2:1

Position Sizing

ConvictionNone
Suggested %0.5%
Max %1%
RegimeSteady

Risk Alerts

! Reward/Risk 1.2:1 at current price — below 1.5:1 minimum

Earnings

B
B
B
M
3/4 beats
Next Earnings2026-04-29 (nulld)

Verdict History

reverse chrono — latest first
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Verdicts are recorded on every nightly pipeline run. Rows capture transitions (verdict flips, score deltas ≥0.3, entry/TP/SL changes). Rows with a ▶ can be expanded to see the change reason. Aggregate cohort performance is tracked in the recommendation ledger.
Frequently Asked Questions
Is VICI stock a buy right now?

Hold if already holding. Not a fresh buy at $28.97, but acceptable to hold if already in. Reasons: Concentration risk — Tenant: Caesars (39.0%); Concentration risk — Tenant: MGM (35.0%). Chart setup: Death cross but MACD improving, RSI 63. Maintain position. Not compelling to add more. Target $30.87 (+6.6%), stop $28.05 (−3.3%), A.R:R 1.2:1. Score 5.6/10, moderate confidence.

What is the VICI stock price target?

Take-profit target: $30.87 (+6.7% upside). Target $30.87 (+6.6%), stop $28.05 (−3.3%), A.R:R 1.2:1. Stop-loss: $28.05.

What are the risks of investing in VICI?

Concentration risk — Tenant: Caesars (39.0%); Concentration risk — Tenant: MGM (35.0%); Thin upside margin: 6.7%.

Is VICI overvalued or undervalued?

VICI Properties Inc. trades at a P/E of 9.8 (forward 9.7). TrendMatrix value score: 5.9/10. Verdict: Hold.

What do analysts say about VICI?

31 analysts cover VICI with a consensus score of 4.0/5. Average price target: $34.

What does VICI Properties Inc. do?VICI Properties is an experiential gaming REIT with 93 properties (54 gaming, 39 other experiential) across 26 U.S....

VICI Properties is an experiential gaming REIT with 93 properties (54 gaming, 39 other experiential) across 26 U.S. states and Canada, 100% leased with a weighted average term of 39.6 years. Over $4.0B in 2025 revenues come almost entirely from triple-net lease rent. Caesars (39%) and MGM (35%) collectively represent ~74% of leasing revenues; Las Vegas Strip properties generate 49% of total revenues.

Related stocks: WPC (W. P. Carey Inc. REIT) · BNL (Broadstone Net Lease, Inc.) · NLY (Annaly Capital Management Inc.) · JLL (Jones Lang LaSalle Incorporated) · TRNO (Terreno Realty Corporation)