🔴 VICI Properties is trading 4.3% down today as a 39% drop in net income offsets AFFO growth

VICI Properties is trading 4.3% down at $26.22 after its second-quarter 2026 earnings release showed a sharp drop in GAAP net income despite strong AFFO and revenue growth.

• Investors are focused on a 39% year-over-year decline in net income per share, which is overshadowing otherwise solid guidance and portfolio expansion.
• Lingering questions regarding the company's largest tenant are weighing on sentiment, leading to profit-taking despite a broadly positive market backdrop.