3 models fit VICI Properties Inc. Common Stock and they disagree: 1 of 3 land within 15% of the average.
Two or more of our models back this value.
Near fair value(i)
Valued as a REIT (property company): Price to FFO, Dividend discount, and EV/EBITDA comparison.
ACCE opinionVICI Properties Inc. Common Stock (VICI)
Fair value (3 models)
$24.09
ACCE price target
$30.00
Rating
Fairly valued
Horizon
12 months
Fair value published on 20 Oct 2026, 16:04 CEST; previously $24.63 since 16 Oct 2026, 00:00 CEST.
ACCE price target published on 24 Sept 2026, 00:00 CEST.
Rating published on 20 Oct 2026, 16:04 CEST.
Price used: $23.76 at the close on 23 Oct 2026, 22:00 CEST.
Models: EV/EBITDA comparison, Dividend discount, and Price to FFO.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
Price vs fair value
1.4% below
+1.4% to fair value
ACCE score
55
out of 100
Analysts
64% buy
25 covering
P/E
9.0x
forward 7.8x
1-year return
-24.4%
Dividend yield
7.78%
VICI Properties Inc. Common Stock in four questions
Plain answers, details below
Free accounts get 5 full stock pages a month, including the four answers.
Overview
ACCE thesis
VICI Properties owns a portfolio of gaming and experiential real estate, most notably the Caesars Palace and Venetian-related properties it leases to operators under long-term triple-net contracts, so the company collects rent without running the casinos. That lease structure is the core of the case: a 99.3% gross margin and a 70.2% operating margin show how little cost sits between rent received and cash earned. Revenue growth of 5.7% is steady rather than spectacular, and the near-term driver is contractual rent escalators plus new acquisitions funded from its balance sheet. At a trailing P/E of 9.0 and a forward P/E of 7.7, the stock trades cheaply against its earnings, while a 9.8% ROE and a composite score of 53/100 suggest the returns and quality profile are middling and warrant a closer look at leverage and tenant concentration before any conclusion. The name is not in any index membership in this dataset, which may partly explain the low multiple, so the question for the deeper review is whether the discount reflects real risk or simply limited ownership.