VICI Properties (NYSE:VICI) Price Target Cut to $29.00 by Analysts at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald cut its VICI Properties price target to $29 from $32 but maintained an “overweight” rating, implying about 18.5% upside from the share price cited in the report.
• Analyst views are mixed but lean positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $29.42, with eight Buy and eight Hold ratings.
• VICI’s latest quarterly results showed a notable EPS miss ($0.31 versus $0.72 expected), while revenue of $1.07 billion topped estimates and rose 5.8% year over year.

VICI Properties (NYSE:VICI - Get Free Report) had its price target lowered by analysts at Cantor Fitzgerald from $32.00 to $29.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Cantor Fitzgerald's target price would indicate a potential upside of 18.49% from the company's current price.

A number of other research firms have also issued reports on VICI. Citizens Jmp decreased their target price on VICI Properties from $35.00 to $31.00 and set a "market outperform" rating for the company in a report on Friday, October 2nd. Stifel Nicolaus cut their price target on VICI Properties from $34.00 to $30.75 and set a "buy" rating on the stock in a report on Thursday, October 29th. Barclays cut their price target on VICI Properties from $31.00 to $28.00 and set an "overweight" rating on the stock in a report on Tuesday, October 20th. Evercore set a $30.00 price target on VICI Properties in a research report on Monday, September 21st. Finally, Morgan Stanley decreased their price objective on VICI Properties from $31.00 to $29.00 and set an "equal weight" rating for the company in a research note on Tuesday, September 15th. Eight investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, VICI Properties has an average rating of "Moderate Buy" and an average target price of $29.42.

VICI Properties Price Performance

Shares of VICI opened at $24.48 on Wednesday. The company has a market cap of $26.95 billion, a P/E ratio of 11.23 and a beta of 0.64. VICI Properties has a fifty-two week low of $22.42 and a fifty-two week high of $30.83. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.57. The firm's 50 day moving average price is $24.08 and its 200 day moving average price is $26.93.

VICI Properties (NYSE:VICI - Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.41). The business had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1.06 billion. VICI Properties had a net margin of 56.46% and a return on equity of 8.10%. The business's quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.60 EPS. On average, research analysts forecast that VICI Properties will post 2.47 earnings per share 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. BlackRock Inc. purchased a new stake in VICI Properties during the second quarter worth about $3,433,817,000. State Street Corp grew its position in VICI Properties by 4.5% during the second quarter. State Street Corp now owns 67,155,780 shares of the company's stock worth $1,812,259,000 after buying an additional 2,920,133 shares during the period. Allianz Asset Management GmbH grew its position in VICI Properties by 1.8% during the second quarter. Allianz Asset Management GmbH now owns 31,527,182 shares of the company's stock worth $837,047,000 after buying an additional 566,922 shares during the period. Bank of America Corp DE purchased a new position in VICI Properties in the second quarter valued at about $778,709,000. Finally, Dimensional Fund Advisors LP increased its holdings in VICI Properties by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 15,457,602 shares of the company's stock valued at $422,294,000 after buying an additional 344,355 shares in the last quarter. Institutional investors and hedge funds 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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