O vs. VICI: Realty Income vs. VICI Properties Stock Comparison

Company Profile

Realty Income (O) and VICI Properties (VICI) both fall under the Equity Real Estate Investment Trusts (REITs) industry group, but O is classified in Retail REITs while VICI is classified in Specialized REITs.

Both Realty Income (O) and VICI Properties (VICI) are REITs — read their payout ratios and P/E alongside FFO (funds from operations) rather than at face value.

Price Performance

Cumulative Growth

Trailing Returns

Calendar-Year Returns

Performance Metrics

Risk Profile

Drawdown History

Return Distribution

Risk Metrics

Risk-Adjusted Performance

Risk-Return Positioning

Risk-Adjusted Metrics

Profitability

Both Realty Income (O) at 3.48% and VICI Properties (VICI) at 8.28% land near their industries’ usual ROE ranges, so capital efficiency looks broadly in line with peers on both sides.

Neither Realty Income (O) in Equity Real Estate Investment Trusts (REITs) nor VICI Properties (VICI) in Equity Real Estate Investment Trusts (REITs) is well served by net margin: heavy depreciation makes net income a poor profitability proxy in their businesses, where FFO-based measures are the standard read.

Neither side reports a meaningful operating margin: for Realty Income (O) in Equity Real Estate Investment Trusts (REITs) and VICI Properties (VICI) in Equity Real Estate Investment Trusts (REITs), funding costs are part of the core business, so net margin and ROE are the cleaner profitability reads.

Profitability Metrics

Growth

Both Realty Income (O) at 9.07% and VICI Properties (VICI) at 4.08% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

EPS growth isn't a meaningful figure for either Realty Income (O) in Equity Real Estate Investment Trusts (REITs) or VICI Properties (VICI) in Equity Real Estate Investment Trusts (REITs) under our convention.

Growth Metrics

Financial Strength

Both Realty Income (O) at 2.17 and VICI Properties (VICI) at 20.26 post current ratio above their industries’ typical mid-ranges — short-term liquidity appears comfortable, though unusually high readings can point to idle current assets.

VICI Properties (VICI) at 0.61 keeps leverage in the lower industry quartile, while Realty Income (O) at 0.75 runs a more typical debt-to-equity mix.

Financial Strength Metrics

Dividends

VICI Properties (VICI) at 7.18% delivers top-quartile income for its industry, while Realty Income (O) at 5.45% pays a more typical yield — both are credible income propositions, VICI the richer one.

An earnings-based payout ratio fits neither Realty Income (O) in Equity Real Estate Investment Trusts (REITs) nor VICI Properties (VICI) in Equity Real Estate Investment Trusts (REITs): their distributions are mandated and conventionally measured against FFO, so the accounting-earnings ratio overstates both.

Dividend Metrics

Valuation

P/E ratio is not a meaningful valuation yardstick for either Realty Income (O) in Equity Real Estate Investment Trusts (REITs) or VICI Properties (VICI) in Equity Real Estate Investment Trusts (REITs): depreciation suppresses reported earnings in their businesses, and price-to-FFO is the conventional yardstick instead.

VICI Properties (VICI) at 6.57 is priced about in line with its industry on P/S ratio, while Realty Income (O) at 9.06 sits in the pricier quartile — O costs more per dollar of sales.

VICI Properties (VICI) at 0.94 sits in the lower P/B ratio quartile against book while Realty Income (O) at 1.42 is valued near its industry’s middle — VICI is cheaper on assets, though weigh it against ROE and asset quality.

Valuation Metrics