What changed
$VICI — BUY 📊 | 6 MONTHS THESIS
🎯 Q2 2026 | EPS $0.72 vs $0.72 ➖
💡 Consensus expected Q1 AFFO around $0.71, implying continued pressure from higher rates and gaming tenant headwinds. The $0.82 beat ($0.11 surprise) reveals that cash flows are growing faster than anticipated, with credit metrics stable.
📉 Reward/risk: 2.1:1
🏢 Business Quality: 7/10 - High-quality triple-net lease REIT with dominant gaming/experiential portfolio, long WALT (weighted average lease term), inflation-linked escalators, and investment-grade tenant mix, but exposed to cyclical gaming and interest rate sensitivity.
📊 Valuation: cheap - P/AFFO around 11.0x (based on estimated annual AFFO of $2.42), versus net lease peer average of 13.5x and historical average of 13x.
🔮 Catalyst: Q2 earnings release (expected late July/early August 2026) and guidance raise
📊 Our read: BUY. Full analysis →
https://stockduty.xyz/s/VICI0624