🔥 VICI AT $22.50: 8% DIVIDEND AND BELOW BOOK VALUE. SCREAMING BUY? $VICI

VICI has dropped to around $22.50, and in my opinion, this is starting to get really interesting.

At this price, we're getting approximately:

🔥 8.2% dividend yield 📉 P/B ~0.85× 💰 ~9.1× forward AFFO 📈 nearly 11% AFFO yield 🏰 iconic properties like Caesars Palace, MGM Grand, and Venetian 📝 extremely long triple-net leases

At the end of Q2, VICI had about $29.17 billion in book equity. At a price of $22.50 and approximately 1.10 billion shares, the market cap comes to only about $24.8 billion.

The market is thus valuing the company about $4.4 billion BELOW the book value of its equity.

And then there's the dividend.

VICI just raised it to $0.46 quarterly / $1.84 annually. At $22.50, that's about an 8.18% yield. The company targets a payout of around 75% of AFFO and has increased its dividend every year since its inception.

It reminds me a bit of Altria back when the market offered about a 10% dividend yield. Not the same business — same idea: the market is scared, the price falls, and the investor gets a huge cash yield to reinvest through DRIP.

And the best part?

With its triple-net leases, VICI has a weighted average remaining lease term of 39.6 years, including extension options.

Is this a value trap... or one of the biggest dividend opportunities in today's market? 👀

👉 For Premium, I've prepared a complete breakdown of VICI — AFFO, dividend, book value, debt, contracts, risks, and why at $22.50 I'm starting to call it a "screaming buy" valuation.