Is VICI Properties, Inc. overvalued or undervalued?

As of 30 July 2025, the valuation grade for VICI Properties, Inc. has moved from attractive to very attractive, indicating a positive shift in its perceived value. The company appears undervalued, supported by a P/E ratio of 13, an EV to EBITDA of 9.41, and a Price to Book Value of 1.25. In comparison, its peer Crown Castle, Inc. has a significantly higher P/E ratio of 263.90, while Extra Space Storage, Inc. is considered expensive with a P/E of 31.82, highlighting VICI's relative attractiveness in the market.
Despite recent stock performance showing a decline over the past week and month, with returns of -3.11% and -0.25% respectively, VICI's year-to-date return of 9.96% suggests it has outperformed the S&P 500's 12.22% during the same period. This, along with its strong dividend yield of 521.88%, reinforces the notion that VICI Properties, Inc. is a compelling investment opportunity.