Convergence Investment Partners LLC Acquires 541 Shares of VICI Properties Inc. $VICI

Convergence Investment Partners LLC raised its holdings in shares of VICI Properties Inc. (NYSE:VICI) by 1.1% in the second quarter, HoldingsChannel.com reports. The firm owned 52,040 shares of the company’s stock after buying an additional 541 shares during the period. Convergence Investment Partners LLC’s holdings in VICI Properties were worth $1,697,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of VICI. Wayfinding Financial LLC purchased a new position in shares of VICI Properties during the first quarter valued at approximately $29,000. Hoey Investments Inc. purchased a new position in shares of VICI Properties during the second quarter valued at approximately $33,000. Avalon Trust Co purchased a new position in shares of VICI Properties during the first quarter valued at approximately $35,000. Investment Management Corp VA ADV boosted its position in shares of VICI Properties by 171.3% during the first quarter. Investment Management Corp VA ADV now owns 1,123 shares of the company’s stock valued at $37,000 after buying an additional 709 shares during the last quarter. Finally, Kestra Investment Management LLC boosted its position in shares of VICI Properties by 55.5% during the first quarter. Kestra Investment Management LLC now owns 1,776 shares of the company’s stock valued at $58,000 after buying an additional 634 shares during the last quarter. Hedge funds and other institutional investors own 97.71% of the company’s stock.

VICI Properties Stock Performance

Shares of VICI opened at $31.24 on Monday. The firm has a market cap of $33.31 billion, a PE ratio of 11.97, a PEG ratio of 3.11 and a beta of 0.72. The stock’s fifty day moving average price is $32.40 and its two-hundred day moving average price is $32.36. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.74 and a quick ratio of 1.74. VICI Properties Inc. has a 1 year low of $27.98 and a 1 year high of $34.03.

VICI Properties (NYSE:VICI) last issued its earnings results on Wednesday, July 30th. The company reported $0.60 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.60. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $991.59 million. VICI Properties had a return on equity of 10.21% and a net margin of 70.20%.The business’s revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 earnings per share. VICI Properties has set its FY 2025 guidance at 2.350-2.370 EPS. On average, equities research analysts forecast that VICI Properties Inc. will post 2.31 EPS for the current year.

VICI Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Thursday, September 18th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date was Thursday, September 18th. This is a positive change from VICI Properties’s previous quarterly dividend of $0.43. VICI Properties’s dividend payout ratio is presently 68.97%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on VICI shares. Stifel Nicolaus lifted their target price on VICI Properties from $34.75 to $35.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Barclays lifted their target price on VICI Properties from $36.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Weiss Ratings reissued a “buy (b-)” rating on shares of VICI Properties in a research report on Friday. JPMorgan Chase & Co. boosted their price objective on VICI Properties from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 10th. Finally, Evercore ISI boosted their price objective on VICI Properties from $37.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, September 15th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, VICI Properties currently has an average rating of “Moderate Buy” and a consensus price target of $36.08.

About VICI Properties

VICI Properties Inc is an S&P 500 experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality and entertainment destinations, including Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las Vegas, three of the most iconic entertainment facilities on the Las Vegas Strip.