VICI Properties Raises FY24 AFFO Guidance From $2.22-$2.25 To $2.24-$2.26 Per Diluted Share

Author: Benzinga Newsdesk | July 31, 2024 04:32pm

The Company estimates AFFO for the year ending December 31, 2024 will be between $2,350 million and $2,370 million, or between $2.24 and $2.26 per diluted common share. Guidance does not include the impact on operating results from any pending or possible future acquisitions or dispositions, capital markets activity, or other non-recurring transactions.

The following is a summary of the Company's updated full-year 2024 guidance:

		Updated Guidance				Prior Guidance
For the Year Ending December 31, 2024:		Low		High		Low		High
Estimated Adjusted Funds From Operations (AFFO)		$2,350		$2,370		$2,320		$2,355
Estimated Adjusted Funds From Operations (AFFO) per diluted share		$2.24		$2.26		$2.22		$2.25
Estimated Weighted Average Share Count for the Year (in millions)		1,048.0		1,048.0		1,046.0		1,046.0

The above per share estimates reflect the dilutive effect of the 18,856,855 shares currently pending under the Company's outstanding forward sale agreements as calculated under the treasury stock method. VICI partnership units held by third parties are reflected as non-controlling interests and the income allocable to them is deducted from net income to arrive at net income attributable to common stockholders and AFFO; accordingly, guidance represents AFFO per share attributable to common stockholders based solely on outstanding shares of VICI common stock.

The estimates set forth above reflect management's view of current and future market conditions, including assumptions with respect to the earnings impact of the events referenced in this release. The estimates set forth above may be subject to fluctuations as a result of several factors and there can be no assurance that the Company's actual results will not differ materially from the estimates set forth above.

Posted In: VICI