VICI Properties' Q4 AFFO Meets Estimates, Revenues Rise Y/Y

Core Insights - VICI Properties reported fourth-quarter adjusted funds from operations (AFFO) per share of 57 cents, consistent with the Zacks Consensus Estimate, and a 3.6% increase from the prior-year quarter [1][3] - The company generated total revenues of $976.1 million, surpassing the Zacks Consensus Estimate by 0.1%, and reflecting a year-over-year increase of 4.7% [3] - VICI Properties expects AFFO per share in the range of$ 2.32- $2.35 for 2025, with the current Zacks Consensus Estimate at$ 2.31, which is below the projected range [7] Revenue Breakdown - Income from sales-type leases was $524.7 million, a 3.6% increase year-over-year [4] - Income from lease financing receivables, loans, and securities reached$ 420.7 million, rising 6% year-over-year [4] - Other income in the fourth quarter was $19.5 million, up 6.5% from the previous year, while golf revenues increased by 5.7% to$ 11.2 million [4] Financial Position - As of December 31, 2024, VICI Properties had cash and cash equivalents of $524.6 million, up from$ 355.7 million as of September 30, 2024 [5] - The company's total liquidity amounted to $3.3 billion, which includes cash, estimated net proceeds from forward sale agreements, and availability under its revolving credit facility [5] - Total debt remained unchanged at approximately$ 17.1 billion as of December 31, 2024 [6] Performance Comparison - Host Hotels & Resorts, Inc. reported fourth-quarter AFFO per share of 44 cents, exceeding the Zacks Consensus Estimate of 40 cents, with no change from the prior-year quarter [8] - Healthpeak Properties, Inc. reported fourth-quarter adjusted FFO per share of 46 cents, beating the Zacks Consensus Estimate by a penny, with results reflecting better-than-anticipated revenues [10][11]