Here's What to Expect From VICI Properties' Next Earnings Report

Maryland-based VICI Properties Inc. (VICI) is a real estate investment trust primarily engaged in owning, acquiring and developing gaming, hospitality and entertainment destinations. Valued at a market cap of $29.6 billion, the company owns Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las Vegas, three of the most iconic entertainment facilities on the Las Vegas Strip.

VICI is expected to release its Q1 2026 earnings on Wednesday, Apr. 29, after the market closes. Ahead of the event, analysts expect the company’s FFO to be $0.61 on a diluted basis, up 5.2% from $0.58 in the year-ago quarter. The company has met or exceeded Wall Street’s FFO estimates in each of its last four quarters.

For fiscal 2026, analysts project the company’s FFO to be $2.45, up 2.9% from $2.38 in fiscal 2025. Moreover, its EPS is expected to rise by roughly 3.3% year over year (YoY) to $2.53 in fiscal 2027.

VICI Properties shares have fallen 7% over the past 52 weeks, lagging behind the S&P 500 Index’s ($SPX) 30.3% rise and the State Street Real Estate Select Sector SPDR ETF’s (XLRE) 7.2% rise during the same time frame.

On Feb. 25, VICI stock declined marginally following the release of its Q4 2025 earnings. The company’s total revenues increased 3.8% from the prior year’s quarter to $976.1 million. Moreover, VICI’s AFFO attributable to common stockholders rose 6.8% from its year-ago value to $601.3 million or $0.60 per share.

Analysts are somewhat bullish on VICI, with the stock having a “Moderate Buy” rating overall. Among the 23 analysts covering the stock, 14 are recommending a “Strong Buy,” one recommends a “Moderate Buy,” and eight recommend “Hold” for the stock. VICI’s average analyst price target is $34.71, indicating an upside of 25.2% from the current levels.