VICI Properties offers 6.2% dividend yield with strong cash flow despite sector challenges.

VICI Properties Inc. is rated a Quant buy, offering a 6.2% forward dividend yield and trading at a discount compared to peers. Since 2017, VICI has expanded its portfolio from 19 to 93 properties, focusing on luxury casinos in the U.S. Despite some sector headwinds, the company has maintained resilient dividend growth and strong free cash flow margins. Recent earnings slightly beat revenue expectations but missed on EPS and normalized FFO, with AFFO expected to rise to $2.42–$2.45 per share by 2026. Key risks include inflation impacting discretionary spending and concentrated exposure to Caesars, but VICI's solid fundamentals and dividend history support its investment case.