Vici Properties ( (VICI) ) has released its Q3 earnings. Here is a breakdown of the information Vici Properties presented to its investors.
VICI Properties Inc. is a leading experiential real estate investment trust, known for its portfolio of gaming, hospitality, and entertainment destinations, including iconic properties like Caesars Palace Las Vegas and MGM Grand. The company is notable for its long-term, triple-net lease agreements with major operators in the gaming and hospitality sectors.
In its third quarter 2024 earnings report, VICI Properties announced a year-over-year revenue increase of 6.7%, totaling $964.7 million, and a significant 31.7% rise in net income attributable to common stockholders. The company also highlighted its strategic capital deployment of $230 million and declared its seventh consecutive annual dividend increase.
Key financial highlights include a net income of $732.9 million, earnings per share of $0.70, and an 8.4% increase in Adjusted Funds From Operations (AFFO) to $593.9 million. VICI Properties maintained a strong liquidity position with $355.7 million in cash and cash equivalents and a substantial $3.3 billion in total liquidity. Additionally, the company updated its AFFO guidance for the full year 2024, estimating it to be between $2,360 million and $2,370 million.
Looking ahead, VICI Properties remains optimistic about its growth prospects, supported by consistent rent collection, strategic portfolio management, and enduring partnerships with top-tier operators. The company’s focus on high-quality experiential real estate is expected to drive compounding growth in the coming years.
