Gerber Kawasaki Wealth & Investment Management lowered its stake in shares of VICI Properties Inc. (NYSE:VICI – Free Report) by 12.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 291,685 shares of the company’s stock after selling 41,648 shares during the period. Gerber Kawasaki Wealth & Investment Management’s holdings in VICI Properties were worth $6,700,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in the stock. SMH Capital Advisors Inc. acquired a new position in shares of VICI Properties in the third quarter valued at approximately $1,348,000. Greenleaf Trust lifted its holdings in shares of VICI Properties by 34.8% during the third quarter. Greenleaf Trust now owns 11,249 shares of the company’s stock worth $258,000 after purchasing an additional 2,903 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of VICI Properties during the third quarter worth $6,781,000. Aviance Capital Partners LLC grew its position in VICI Properties by 81.9% in the 3rd quarter. Aviance Capital Partners LLC now owns 68,809 shares of the company’s stock valued at $1,581,000 after buying an additional 30,979 shares during the last quarter. Finally, Profund Advisors LLC grew its position in VICI Properties by 43.2% in the 3rd quarter. Profund Advisors LLC now owns 20,471 shares of the company’s stock valued at $470,000 after buying an additional 6,174 shares during the last quarter. Institutional investors and hedge funds own 97.71% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft set a $30.00 price objective on shares of VICI Properties in a research report on Friday, July 31st. Barclays dropped their price target on shares of VICI Properties from $31.00 to $28.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 20th. Cantor Fitzgerald cut their price target on shares of VICI Properties from $34.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, August 10th. Scotiabank reduced their price objective on shares of VICI Properties from $29.00 to $26.00 and set a “sector perform” rating for the company in a research report on Thursday, September 24th. Finally, Truist Financial lowered their price objective on VICI Properties from $38.00 to $32.00 and set a “buy” rating on the stock in a report on Tuesday, October 20th. Eight research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, VICI Properties presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.61.
Read Our Latest Research Report on VICI
VICI Properties Stock Up 2.1%
Shares of NYSE VICI opened at $24.98 on Tuesday. The firm has a 50-day moving average price of $24.12 and a 200 day moving average price of $26.95. VICI Properties Inc. has a 52 week low of $22.42 and a 52 week high of $30.83. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $27.50 billion, a price-to-earnings ratio of 11.46 and a beta of 0.65.
VICI Properties (NYSE:VICI – Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.41). The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.06 billion. VICI Properties had a return on equity of 8.14% and a net margin of 56.46%. The business’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 EPS. Equities research analysts anticipate that VICI Properties Inc. will post 2.47 EPS for the current fiscal year.
VICI Properties Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th were given a dividend of $0.46 per share. The ex-dividend date was Thursday, September 17th. This is a positive change from VICI Properties’s previous quarterly dividend of $0.45. This represents a $1.84 dividend on an annualized basis and a yield of 7.4%. VICI Properties’s dividend payout ratio (DPR) is presently 84.40%.
VICI Properties Company Profile
VICI Properties Inc (NYSE:VICI) is a real estate investment trust that owns and manages experiential properties, with a primary focus on gaming, hospitality and entertainment destinations. The company’s portfolio includes the real estate associated with well-known casinos, resorts, racetracks and golf facilities.
VICI generally leases its properties to gaming and entertainment operators through long-term, triple-net lease agreements. Its tenants operate the properties and are typically responsible for property-level expenses such as maintenance, insurance and taxes, while VICI focuses on owning, maintaining and expanding its real estate portfolio.
The company was established in 2017 as part of the restructuring of Caesars Entertainment Operating Company.
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