Sharing its financial results for the quarter ending September 30, VICI Properties revealed a total revenue increase of 6.7 per cent year-on-year to US$964.7m.
Net income attributable to common stockholders increased 31.7 per cent year-over-year to $732.9m.
The company ended the quarter with $355.7m in cash and cash equivalents and $630.2m of estimated forward sale equity proceeds.
Edward Pitoniak, CEO of VICI Properties, said: “In the third quarter, we continued to demonstrate the flow-through efficiency of our economic model, increasing our quarterly revenue by approximately seven per cent year-over-year and our AFFO per share by approximately five per cent year-over-year.
“Through our previously announced capital commitments, we were able to deploy $230m of capital during the quarter, through various of our loan and Partner Property Growth Fund agreements.
In the quarter we announced a 4.2 per cent dividend increase, enabling VICI to achieve a dividend CAGR of seven per cent since our IPO. Our methodical portfolio construction and consistent annual earnings growth from same-store rent escalations have funded our annual dividend increases, creating a compelling compounding opportunity.
“Our track record of 100 per cent rent collection since formation is bolstered by enduring secular tailwinds, mission-critical real estate and tenant transparency. We expect these cornerstone elements of our portfolio to support compounding growth for years to come."
