VICI

VICI Properties Inc.

Real EstateREIT - DiversifiedNASDAQ

$28.22

-$0.30 (-1.05%)today

Conviction

6/ 10

Fair Value$35

Upside+24.03%

Signal14.42

Market Cap$29.8B

52W Range$26.55–$34.01

Next EarningsApr 29

Conviction History

Conviction Changes

Mar 19, 2026, 3:10 AM5→6conviction-rescore

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Price History

FAIR VALUE ANALYSISMonte Carlo · 3,000 runs · 99% valid

Fair Value$35.02

Current Price$28.62

Upside / Down+22.4%

P(Undervalued)82.9%

P(20%+ Up)53.6%

P(15%+ Down)4.8%

Fair Value Distribution — percentile bands

82.9% of simulations place fair value above current price

WHAT IS PRICED IN

Revenue-Based Reverse DCF

6.5%/yr

±3.6% · revenue growth to justify current price

FCF-Based Reverse DCF

0.9%/yr

±3.0% · FCF growth to justify current price

THE GAP

Market pricing margin expansion or capex normalization

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Bull Case

No analysis yet

Bear Case

No analysis yet

Research Feed

sec_10kMar 3

Conviction: unchanged

VICI Properties Inc. — 10-K FY2025: Fortress Occupancy, Acute Tenant/Geographic Concentration Risk

VICI: High-quality scale REIT (100% occupied, B revenues, 93 assets) facing acute Caesars/MGM concentration (74% rent), Las Vegas geographic concentration (49%), and emerging competitive threats from ...