VICI Properties: Barclays Maintains Buy Rating, Sets $36 PT

Barclays maintains a buy rating on VICI Properties (VICI) with a price target of $36. The company reported Q2 2025 total revenues of $1.0 billion, a 4.6% YoY increase. Net income and AFFO attributable to common stockholders rose 16.7% and 6.4% YoY, respectively. VICI owns and acquires hospitality, gaming, and entertainment destinations.

VICI Properties Inc. (NYSE: VICI) reported its Q2 2025 financial results, showcasing robust performance across its hospitality, gaming, and entertainment portfolio. The company's total revenues reached $1.0 billion, marking a 4.6% year-over-year (YoY) increase. Net income and AFFO (Adjusted Funds From Operations) attributable to common stockholders rose by 16.7% and 6.4% YoY, respectively [2].

Barclays maintains a buy rating on VICI Properties with a price target of $36. The investment bank's positive outlook is based on the company's strong financial performance and the potential for continued growth in its experiential real estate portfolio. VICI Properties owns and manages a diverse range of assets, including iconic entertainment facilities such as Caesars Palace Las Vegas, MGM Grand, and the Venetian Resort Las Vegas [1].

The company's quarterly earnings per share (EPS) of $0.60 met analysts' expectations, while revenue exceeded forecasts by $991.59 million. VICI Properties' return on equity (ROE) stood at 10.21%, and its net margin reached 70.20% for the quarter. The company's revenue growth was driven by increased demand for its gaming and entertainment facilities, as well as strong performance in its hospitality segment [2].

VICI Properties has also been actively managing its shareholder base. Campbell & CO Investment Adviser LLC reduced its holdings in the company by 35.5% during the first quarter, while other large investors, such as Provident Investment Management Inc. and Cullen Frost Bankers Inc., increased their stakes [2].

Looking ahead, VICI Properties is well-positioned to continue its growth trajectory. The company's diversified portfolio and strong financial performance have garnered positive analyst ratings, with a consensus rating of "Moderate Buy" and a consensus target price of $35.40 [2].

References:
[1] https://www.ainvest.com/news/daily-turnover-turnover-vici-properties-8-26-335-35-million-ranking-381-2508/
[2] https://www.marketbeat.com/instant-alerts/filing-campbell-co-investment-adviser-llc-sells-26096-shares-of-vici-properties-inc-vici-2025-08-26/