VICI Properties Q4 Results and 2025 Outlook

VICI Properties reported its fourth-quarter financial results, with adjusted funds from operations (AFFO) per share at $0.57, matching the Zacks Consensus Estimate, and total revenue rising by 4.7% to $976.1 million, slightly above expectations. Despite these results, the company faces challenges from a high interest rate environment, impacting its ability to finance large projects and contributing to a downbeat 2025 AFFO forecast of $2.32 to $2.35 per share, below analysts' predictions of $2.43. VICI's liquidity position remains strong at $3.3 billion, but higher interest expenses have affected its performance. Over the past year, the stock has increased modestly but underperformed the market, with its price-to-earnings ratio suggesting potential undervaluation compared to peers. Investor sentiment will rely on future management guidance and commentary, as the mixed results and outlook resulted in a 2.5% drop in VICI's share price in extended trading.