SBAC vs. VICI: SBA Communications vs. VICI Properties Stock Comparison

Company Profile

SBA Communications (SBAC) and VICI Properties (VICI) both belong to the Specialized REITs industry, though SBAC is classified under Telecom Tower REITs while VICI falls under Other Specialized REITs.

Both SBA Communications (SBAC) 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

Capital efficiency shows on one side only: VICI Properties (VICI) earns 8.28% on shareholders’ equity, ranked against its industry; SBA Communications (SBAC) has no ROE this period.

Neither SBA Communications (SBAC) 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 SBA Communications (SBAC) 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 SBA Communications (SBAC) at 5.06% 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 SBA Communications (SBAC) 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

VICI Properties (VICI) at 20.26 carries current ratio above its industry’s typical mid-range, while SBA Communications (SBAC) at 0.19 runs in the tighter-liquidity quartile — different working-capital profiles, both worth examining.

Only one side’s leverage can be read here: VICI Properties (VICI) carries debt-to-equity ratio of 0.61 against its industry range, while SBA Communications (SBAC) reports no figure this period.

Financial Strength Metrics

Dividends

VICI Properties (VICI) at 7.18% offers top-quartile income, while SBA Communications (SBAC) at 2.52% sits in the bottom quartile — a wide gap in cash returned to shareholders.

An earnings-based payout ratio fits neither SBA Communications (SBAC) 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 SBA Communications (SBAC) 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.

On P/S ratio, both SBA Communications (SBAC) at 6.94 and VICI Properties (VICI) at 6.57 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

SBA Communications (SBAC) reports a negative P/B ratio of -4.09, meaning negative book equity — the multiple itself is not meaningful for valuation. Meanwhile VICI Properties (VICI) reports 0.94, ranking against industry peers normally.

Valuation Metrics