Valued at a market cap of $34.4 billion, VICI Properties Inc. (VICI) is an experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality and entertainment destinations, including Caesars Palace Las Vegas, MGM Grand, and the Venetian Resort Las Vegas. The company is headquartered in New York.

Companies worth $10 billion or more are typically classified as “large-cap stocks,” and VICI fits the label perfectly, with its market cap exceeding this threshold, underscoring its size, influence, and dominance within the REIT - diversified industry. The company’s specialty lies in long-term, inflation‑linked triple‑net leases, averaging around 40 years, which shift operational costs to tenants and provide stable, predictable income. Its portfolio scale and high barriers to entry in the regulated casino and hospitality industry further differentiate it and support premium valuation relative to peers. 

This experiential REIT has slipped 5% from its 52-week high of $34.29, reached on Sep. 16, 2024. Shares of VICI have gained 1.6% over the past three months, underperforming the Dow Jones Industrial Average’s ($DOWI) 3.9% uptick during the same time frame.

Nonetheless, in the longer term, VICI has rallied 14.9% over the past 52 weeks, outpacing DOWI’s 11% rise over the same time frame. Moreover, on a YTD basis, shares of VICI are up 11.6%, compared to DOWI’s 1% return. 

To confirm its bullish trend, VICI has been trading above its 200-day and 50-day moving averages since mid-February, experiencing some fluctuations. 

On Apr. 30, shares of VICI closed down marginally after its Q1 earnings release. Due to higher income from sales-type leases and an increase in income from lease financing receivables, loans, and securities, its overall revenue improved 3.4% year over year to $984.2 million. Moreover, its adjusted FFO of $0.58 per share advanced 4.3% from the year-ago quarter. VICI also raised its fiscal 2025 AFFO guidance in the range of $2.33 to $2.36 per share. Additionally, it announced the establishment of a strategic relationship with Cain International and Eldridge Industries in the quarter. 

VICI has outpaced its rival, W. P. Carey Inc.’s (WPC) 13.8% rise over the past 52 weeks. However, it has lagged behind WPC’s 16.3% gain on a YTD basis.

Despite VICI’s recent underperformance, analysts remain highly optimistic about its prospects. The stock has a consensus rating of "Strong Buy” from the 22 analysts covering it, and the mean price target of $36.13 suggests a 10.9% premium to its current price levels.