VICI Properties (VICI) Q3 2026 earnings — TrendMatrix coverage
Reported
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Full disclosure · Editorial policy
Key numbers
- Adjusted EPS
- $0.31
- Estimate
- $0.72
- Surprise
- -56.8%
- Revenue (period 2026-09-30)
- $1.07B
- Score at report (before → after)
- 5.7 → 5.8/10
Revenue source: xbrl.
How the report landed
VICI Properties (VICI) missed the $0.72 estimate with adjusted EPS of $0.31 — a large 56.8% shortfall. TrendMatrix's engine moved from Buy (Wait) (5.7/10) to Sell at 5.8/10 after the report — the engine's score rose despite the miss.
Coverage in the report window
- VICI Props Q3 Adj. FFO $0.62 Misses $0.67 Estimate, Sales $1.065B Beat $1.060B Estimate — benzinga, 2026-10-28
Where TrendMatrix's rating stands now
TrendMatrix currently rates VICI Sell at 5.8/10.
1 of the last 4 quarters beat the estimate; this quarter's -56.8% surprise compares with a -23.1% four-quarter average.
What supports the rating
- Attractive valuation
- Margin of safety: 58%
What argues against it
- REIT tenant concentration cliff: 74% of NOI from Caesars and MGM (≥40% threshold). Single-tenant churn risk dominates spot FFO.
- Concentration risk — Tenant: Caesars and MGM (74.0%)
- Sector modifier (Real Estate): -1.2
This section and the ones below it reflect TrendMatrix’s latest engine read — they update after the report date and are not frozen to it.
The levels TrendMatrix's engine tracks
- Current price
- $23.52
- Price target
- $28.01
- Stop
- $22.60
- Upside to target
- +19.1%
- Reward-to-risk
- 3.8:1
At 9.2× trailing and 7.9× forward earnings, consensus estimates imply little change in earnings power.
Model outputs from TrendMatrix’s engine as of 2026-10-29 — shown for context, not personalized investment advice.
VICI at TrendMatrix's latest read
REIT quarters hinge on occupancy, rate exposure, and FFO rather than headline EPS, which mechanically distorts under depreciation.
- Industry
- REIT - Diversified
- Market cap
- $25.90B
- P/E (fwd)
- 7.9
- P/E (ttm)
- 9.2
- 52-week range
- $22.43–$30.83
- Off 52-week high
- 23.7%
- RSI (14)
- 59
- Volume vs avg
- 1.02×
- Score today
- 5.8/10