VICI Properties Has A 24% Dividend Buffer, But Caesars Concentration Is Worth Watching

VICI Properties holds BBB- and Baa3 ratings from S&P and Moody's respectively — both with Stable outlooks — placing it within investment-grade territory. The company's dividend coverage ratio is approximately 1.32x, with AFFO of $2.38 per share against an annualized dividend of $1.80, providing a buffer of approximately 24% above the payout obligation.Coverage is 1.32x.