VICI Properties (VICI) Price Target Cut to $34 at Baird Following Earnings Update

VICI Properties Inc. (NYSE:VICI) is included among the 15 Best Stocks to Buy Now for Passive Income.

On March 2, Baird lowered its terms proposal connected VICI Properties Inc. (NYSE:VICI) to $34 from $36. It kept an Outperform standing connected the shares. The steadfast said it updated its exemplary pursuing the company’s fourth-quarter results, including raising immoderate of its estimates.

During the Q4 2025 net call, CEO Edward Pitoniak said that VICI continues to spot beardown maturation successful property-level performance. He pointed retired that EBITDAR generated by the portfolio has accrued meaningfully implicit time. Before the pandemic, the fig stood astatine astir $487 million. By 2024, it had risen to astir $777 million.

President John Payne discussed respective partnerships and financing deals completed successful 2025. He said the institution formed a semipermanent narration with Cain International and Eldridge Industries. He besides noted that the institution arranged a $510 cardinal delayed-draw word indebtedness with Red Rock Resorts, welcomed Clairvest Group arsenic its 14th tenant, and completed a $1.16 cardinal sale-leaseback transaction with Golden Entertainment.

Payne said these transactions unneurotic correspond astir $2.1 cardinal successful committed superior during 2025. The deals transportation a weighted mean archetypal output of astir 8.9%. He besides said the institution expanded into the Las Vegas locals gaming market, which helium described arsenic demographically attractive.

VICI Properties Inc. (NYSE:VICI) is simply a existent property concern trust. The institution owns and acquires gaming, hospitality, wellness, entertainment, and leisure destinations, which run nether semipermanent triple nett leases.

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