VICI Properties (NYSE:VICI – Get Free Report) had its price objective cut by equities researchers at Cantor Fitzgerald from $32.00 to $29.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Cantor Fitzgerald‘s target price would indicate a potential upside of 18.49% from the stock’s previous close.
A number of other brokerages have also recently commented on VICI. Citizens Jmp lowered their price objective on shares of VICI Properties from $35.00 to $31.00 and set a “market outperform” rating on the stock in a research note on Friday, October 2nd. Robert W. Baird set a $32.00 target price on shares of VICI Properties in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft set a $30.00 price target on shares of VICI Properties in a report on Friday, July 31st. Raymond James Financial set a $29.00 price target on shares of VICI Properties in a research report on Thursday, August 13th. Finally, Scotiabank dropped 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 note on Thursday, September 24th. Eight investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, VICI Properties has an average rating of “Moderate Buy” and an average target price of $29.42.
Check Out Our Latest Stock Report on VICI
VICI Properties Stock Down 2.1%
VICI Properties stock opened at $24.48 on Wednesday. VICI Properties has a fifty-two week low of $22.42 and a fifty-two week high of $30.83. The firm has a market capitalization of $26.95 billion, a price-to-earnings ratio of 11.23 and a beta of 0.64. The stock’s fifty day moving average is $24.08 and its two-hundred day moving average is $26.93. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.35 and a current ratio of 2.35.
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 (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.41). The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.06 billion. VICI Properties had a return on equity of 8.10% and a net margin of 56.46%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the firm earned $0.60 EPS. Analysts predict that VICI Properties will post 2.47 EPS for the current fiscal year.
Institutional Trading of VICI Properties
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in VICI Properties by 3.4% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,699,040 shares of the company’s stock valued at $284,060,000 after purchasing an additional 349,262 shares in the last quarter. Amundi boosted its stake in shares of VICI Properties by 21.1% during the 2nd quarter. Amundi now owns 7,728,135 shares of the company’s stock worth $205,182,000 after purchasing an additional 1,344,994 shares during the last quarter. Rakuten Investment Management Inc. purchased a new stake in shares of VICI Properties during the second quarter worth about $4,858,000. The Manufacturers Life Insurance Company grew its holdings in shares of VICI Properties by 19.3% during the second quarter. The Manufacturers Life Insurance Company now owns 1,097,823 shares of the company’s stock worth $29,147,000 after buying an additional 177,238 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of VICI Properties by 2.7% in the first quarter. Bank of America Corp DE now owns 27,948,502 shares of the company’s stock valued at $763,553,000 after buying an additional 734,068 shares during the last quarter. Hedge funds and other institutional investors own 97.71% of the company’s stock.
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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