VICI Properties reported second-quarter 2026 adjusted funds from operations of 62 cents per share, matching the Zacks Consensus Estimate and rising 4.6% year over year. Total revenues grew 5.7% to $1.06 billion, exceeding the $1.04 billion consensus, driven by income from sales-type leases and lease financing receivables, loans and securities. Income from sales-type leases increased 3.6% to $549.2 million, while income from lease financing receivables, loans and securities climbed 8.7% to $478.4 million, including a 30.9% surge in income from loans and securities to $71.6 million. The company acquired the Carambola Beach Resort in St. Croix for $20.3 million and committed about $55.2 million for redevelopment, targeting a fourth-quarter 2027 reopening, and also completed the acquisition of two gaming assets and two hotel assets in Alberta, Canada, for C$200.6 million, adding them to the PURE Master Lease and increasing annual rent by C$16.1 million. VICI ended the quarter with $288.1 million in cash and total liquidity of approximately $2.5 billion, while total debt stood at roughly $17.2 billion and the annualized net leverage ratio was 4.9 times. Management raised the lower end of its full-year 2026 AFFO guidance to a range of $2.675 billion to $2.695 billion, with AFFO per share now projected between $2.45 and $2.47.
VICI Properties IncQ2 FFO met estimates, revenues beat, and full-year AFFO guidance raised
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