What changed
$VICI — BUY 📊 | 6 MONTHS THESIS
🎯 Q2 2026 | EPS $0.72 vs $0.72 ➖
💡 Consensus expects flat FFO growth and maintains a compressed multiple due to casino cyclicality fears. We see the beat as evidence of durable rent escalations and credit support, warranting a multiple closer to net lease peer levels of 9-10x FFO vs current ~8x.
📉 Reward/risk: 2.27:1
🏢 Business Quality: 7/10
📊 Valuation: cheap relative to net lease peers (O, WPC at 15-20x P/FFO) and its own 5-year average of 10x FFO; current P/FFO 8.1x based on annualized $3.28 FFO is...
🔮 Catalyst: Q2 2026 earnings release expected early August 2026
💰 Entry: $26.53, stop $25.0, target $30.0
⚖️ Buy VICI with $30 target and $25 stop; a 15% FFO beat in Q1 and severely depressed valuation vs peers set up a clear repricing if Q2 earnings confirm the trend and cap rates stabilize.
📊 Our read: BUY. Full analysis →
https://stockduty.xyz/s/VICI0625