Zacks Investment Research cut shares of VICI Properties (NYSE:VICI) from a hold rating to a sell rating in a research note published on Wednesday morning.
According to Zacks, “VICI Properties Inc. is a real estate investment trust. The Company is primarily engaged in the business of owning, acquiring and developing gaming, hospitality and entertainment destinations. Its operating segment consists of real property business and golf course business. Real property business segment consists of leased real property. Golf courses include the Cascata golf course in Boulder City, Nevada, the Rio Secco golf course in Henderson, Nevada, the Grand Bear golf course in Biloxi, Mississippi, and the Chariot Run golf course in Elizabeth, Indiana. “
Several other equities research analysts also recently weighed in on VICI. Wells Fargo & Co started coverage on VICI Properties in a report on Wednesday, July 11th. They set a market perform rating and a $22.00 price target on the stock. Morgan Stanley upped their price target on VICI Properties from $22.00 to $23.00 and gave the stock a hold rating in a report on Tuesday, July 24th. Citigroup started coverage on VICI Properties in a report on Thursday, August 2nd. They set a neutral rating and a $22.00 price target on the stock. Credit Suisse Group started coverage on VICI Properties in a report on Tuesday, August 14th. They set an outperform rating and a $24.00 price target on the stock. Finally, Nomura started coverage on VICI Properties in a report on Wednesday, September 26th. They set a buy rating and a $29.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $23.23.
VICI stock opened at $21.70 on Wednesday. The company has a current ratio of 65.13, a quick ratio of 65.13 and a debt-to-equity ratio of 0.66. VICI Properties has a 12-month low of $17.58 and a 12-month high of $22.99.
VICI Properties (NYSE:VICI) last posted its quarterly earnings data on Thursday, November 1st. The company reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.04). The company had revenue of $233.00 million during the quarter, compared to analysts’ expectations of $225.38 million. On average, equities research analysts predict that VICI Properties will post 1.45 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, October 11th. Shareholders of record on Friday, September 28th were issued a dividend of $0.2875 per share. This is an increase from VICI Properties’s previous quarterly dividend of $0.26. The ex-dividend date was Thursday, September 27th. This represents a $1.15 annualized dividend and a yield of 5.30%.
Hedge funds and other institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN acquired a new position in shares of VICI Properties during the 1st quarter worth about $1,321,000. California Public Employees Retirement System acquired a new position in shares of VICI Properties during the 1st quarter worth about $447,000. Principal Financial Group Inc. acquired a new position in shares of VICI Properties during the 1st quarter worth about $300,000. UBS Group AG acquired a new position in shares of VICI Properties during the 1st quarter worth about $914,000. Finally, KAMES CAPITAL plc acquired a new position in shares of VICI Properties during the 2nd quarter worth about $1,234,000.
VICI Properties Company Profile
VICI Properties Inc, an asset real estate investment trust, owns, acquires, and develops gaming, hospitality, and entertainment destinations in the United States. It operates through two segments, Real Property Business and Golf Course Business. The company's property portfolio includes 20 gaming facilities comprising approximately 36 million square feet, as well as approximately 14,500 hotel rooms, 150 restaurants, bars, and nightclubs.
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