VICI Properties

VICI

Market cap $30.1B

VICI Properties Inc. has dipped just over 18% from its 52-week high as market anxiety grows over its highly concentrated portfolio. The REIT's dividend yield has reached a 5-year high at 6.4%, with its 5-year compound annual growth rate at 7.06%. Recent sale-leaseback with Golden Entertainment reduces the rent concentration of its largest tenant, even as the market remains cautious.

VICI Properties is upgraded to Strong Buy, offering a compelling yield and trading near historical valuation lows despite record revenues and raised guidance. The Golden Portfolio acquisition diversifies VICI's cash flows, adds stable Las Vegas Locals exposure, and delivers an attractive 7.5% cap rate with built-in rent escalators. VICI's triple-net model drives elite margins and robust balance sheet metrics, supporting further accretive deals even in a high-rate environment.

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Clearwater Energy could continue to grow with the data center boom serving as a major catalyst. Data centers are also an important growth driver for midstream energy leader Energy Transfer.

REITs, after years of underperformance, are now attractively valued and poised for strong returns over the next 12–18 months. VICI Properties, NNN REIT, and Agree Realty offer robust yields, improving fundamentals, and raised guidance despite sector headwinds. VICI and NNN face tenant-specific risks, but their balance sheets, liquidity, and long-term growth prospects support a bullish outlook.

All 123 publicly traded US equity real estate investment trusts analyzed by S&P Global Market Intelligence traded below their respective consensus price target estimates. The specialty sector, which includes advertising, casinos, communications, data centers, energy infrastructure, farmland and timber, had the largest median implied upside to its consensus price target estimate, at 22.6%. REITs in the self-storage segment showed a 20.6% median implied upside to their consensus price target estimates, while the office sector followed closely at 18.7% and the residential sector at 15.4%.

VICI Properties Inc. (VICI) closed at $27.86 in the latest trading session, marking a +1.09% move from the prior day.

VICI Properties (VICI) trades at 11.7x AFFO, offering a 6.3% yield and robust lease protections, despite market fears over Vegas and online gambling disruption. VICI's long-term, escalator-driven master leases with MGM and CZR insulate its earnings from operator volatility and sector headwinds. Online gambling is expanding the total gaming revenue pie, not materially eroding physical casino fundamentals or VICI's rent streams.

I present my top 10 high-yield dividend-paying companies for 2026, emphasizing sustainable income, growth, and capital appreciation. Selections include AXA, Allianz, PepsiCo, Verizon, Nestlé, Realty Income, VICI Properties, Altria, Chevron, and Petrobras, all meeting strict yield, valuation, and size criteria. These companies offer attractive forward dividend yields, strong dividend growth records, competitive industry positioning, and current valuations that provide a margin of safety.

As much as the world likes to talk about REITs being a smart investment, they are still pretty overlooked, as they are not flashy enough for financial media and don't generate the kind of volatility that keeps day traders interested.