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    Why VICI Properties (VICI) Is Getting Fresh Attention Now

    Simply Wall St·10/24/2026 23:34:15
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    Why VICI Properties Is Back on Investors’ Radar

    VICI Properties (VICI) heads into its October 28 earnings release with expectations for year over year growth in revenue and earnings per share, drawing fresh attention to the REIT’s current valuation setup.

    Recent trading tells a mixed story. VICI Properties’ share price has slipped around 11% over the past 90 days and is down roughly 16% year to date, while the 1 year total shareholder return is down about 18%. However, the 3 and 5 year total shareholder returns remain positive, suggesting long term holders have still seen modest gains even as short term momentum has cooled ahead of the earnings update.

    Spot undervalued real estate opportunities aligned with similar themes to VICI Properties by scanning our hand picked 27 high quality undervalued stocks.

    Bulls see VICI Properties as a discounted, income focused REIT with solid tenants, while bears point to weak recent returns and sector worries. Which story do the current valuation metrics actually support?

    Most Popular Narrative: 43% Undervalued

    The leading narrative on VICI Properties pegs fair value at $41.86 versus the last close at $23.76, framing the stock as materially discounted and putting fresh weight on whether that gap is justified.

    Given this assumption and the fact that VICI has a Cost of Equity of 7.50% we can calculate its fair value using a DDM valuation method:

    Using this valuation method we can extrapolate that VICI is undervalued given that its current price of 26 dollars is well below the P10. From this we can say that there's more than ~90% probability of VICI being undervalued.

    See why 20 investors see VICI Properties as 43% undervalued.

    Result: Fair Value of $41.86 (UNDERVALUED)

    Still, two pressure points could derail that undervalued story: slower earnings power given the projected EPS drag, and ongoing share issuance that dilutes each investor’s slice.

    Find out about the key risks to this VICI Properties narrative.

    Next Steps

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