Summary by Futu AI
VICI Properties reported robust Q3 2024 results, with revenue increasing 6.7% YoY to $964.7 million and net income attributable to common stockholders surging 31.7% to $732.9 million. The company's AFFO grew 8.4% to $593.9 million, or $0.57 per share. VICI raised its quarterly dividend by 4.2% to $0.4325 per share.The strong performance was driven by strategic acquisitions and investments, including the Venetian Capital Investment and new lease agreements. VICI's portfolio expanded to 93 experiential assets across the U.S. and Canada, with a 100% occupancy rate and a weighted average lease term of 41 years.VICI maintained a solid liquidity position with $3.3 billion available through cash, undrawn credit facility, and forward sale agreements. The company continued to execute its growth strategy, funding $473.7 million in loan investments and $261.8 million in property improvements. Despite macroeconomic uncertainties, VICI remains well-positioned with its diversified portfolio and long-term triple-net lease structure.
