VICI Properties (NYSE:VICI) Stock Gets Price Target Reduction from Citigroup

Key Points

• Citigroup cut its VICI Properties price target from $36 to $30 but maintained a Buy rating; the new target implies about 19% upside from the prior close.
• Analyst sentiment is mixed but leans positive: eight analysts rate the stock Buy and eight Hold, for a Moderate Buy consensus and an average target of $29.46.
• VICI reported quarterly EPS of $0.31, below the $0.72 consensus estimate, while revenue of $1.07 billion slightly exceeded estimates and grew 5.8% year over year.

VICI Properties (NYSE:VICI - Get Free Report) had its target price decreased by analysts at Citigroup from $36.00 to $30.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a "buy" rating on the stock. Citigroup's price target suggests a potential upside of 19.06% from the company's previous close.

VICI has been the topic of several other research reports. Raymond James Financial set a $29.00 price target on shares of VICI Properties in a research report on Thursday, August 13th. Mizuho decreased their target price on shares of VICI Properties from $30.00 to $27.00 and set a "neutral" rating for the company in a research report on Wednesday, September 2nd. Weiss Ratings lowered shares of VICI Properties from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, September 9th. Deutsche Bank Aktiengesellschaft set a $30.00 price target on shares of VICI Properties in a research report on Friday, July 31st. Finally, Citizens Jmp reduced 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. Eight equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $29.46.

VICI Properties Stock Performance

Shares of VICI Properties stock traded down $0.05 during trading on Thursday, reaching $25.20. The company's stock had a trading volume of 13,401,501 shares, compared to its average volume of 9,671,063. VICI Properties has a 52 week low of $22.42 and a 52 week high of $30.83. The firm has a market cap of $27.74 billion, a PE ratio of 11.56, a P/E/G ratio of 1.95 and a beta of 0.64. The business's 50-day moving average price is $24.06 and its 200-day moving average price is $26.91. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.57.

VICI Properties (NYSE:VICI - Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $0.31 earnings per share 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 analyst estimates of $1.06 billion. VICI Properties had a return on equity of 8.10% and a net margin of 56.46%. VICI Properties's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.60 EPS. Equities analysts forecast that VICI Properties will post 2.47 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of VICI. BlackRock Inc. bought a new stake in VICI Properties in the second quarter valued at approximately $3,433,817,000. Bank of America Corp DE bought a new position in shares of VICI Properties in the second quarter worth approximately $778,709,000. Legal & General Group Plc bought a new position in shares of VICI Properties in the second quarter worth approximately $366,514,000. Man Group plc purchased a new position in shares of VICI Properties in the second quarter valued at about $318,249,000. Finally, Hsbc Holdings PLC bought a new position in VICI Properties during the 2nd quarter valued at approximately $281,629,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.