What to Expect From VICI Properties' Q2 2026 Earnings Report

With a market cap of $29.1 billion, VICI Properties Inc. (VICI) owns one of the largest portfolios of premier gaming, hospitality, entertainment, and leisure destinations across the United States and Canada. Its high-quality portfolio includes iconic properties such as Caesars Palace Las Vegas, MGM Grand, and The Venetian Resort Las Vegas, which are leased to leading operators under long-term triple-net agreements.

The New York-based company is expected to release its fiscal Q2 2026 results after the market closes on Wednesday, Jul. 29. Ahead of this event, analysts project VICI to report AFFO per share of $0.62, a 3.3% rise from $0.60 in the year-ago quarter. It has exceeded or met Wall Street's bottom-line estimates in each of the past four quarters.

For fiscal 2026, analysts forecast the REIT to report AFFO per share of $2.46, up 3.4% from $2.38 in fiscal 2025. 

VICI stock has decreased 20.1% over the past 52 weeks, lagging behind the broader S&P 500 Index's ($SPX) 20% gain and the State Street Real Estate Select Sector SPDR ETF's (XLRE) nearly 6% rise over the same time frame. 

Shares of VICI Properties rose 2.1% following its Q1 2026 results on Apr. 29 after the company raised its full-year 2026 AFFO guidance to $2.44 per share - $2.47 per share, aligning with the consensus estimate. The company reported Q1 adjusted FFO of $0.61 per share and revenue of $1.02 billion, both meeting consensus estimates, while adjusted EBITDA increased to $838.2 million, surpassing the consensus estimate. 

Analysts' consensus view on VICI stock is cautiously optimistic, with an overall "Moderate Buy" rating. Among 24 analysts covering the stock, 14 suggest a "Strong Buy," one gives a "Moderate Buy," and nine recommend a "Hold." The average analyst price target is $33.52, indicating a potential upside of 25.5% from the current levels.