VICI Properties Inc. (NYSE:VICI) Stock Has Average Price Target of $29.46 According to Brokerages

Key Points

• Analyst sentiment is moderately bullish: Eight of 16 analysts rate VICI Properties a buy and eight a hold, with an average 12-month price target of $29.46.
• Quarterly results were mixed: VICI reported EPS of $0.31, below the $0.72 consensus, while revenue of $1.07 billion topped expectations and rose 5.8% year over year.
• The quarterly dividend rose to $0.46 per share from $0.45, equivalent to $1.84 annualized and a 7.3% yield.

Shares of VICI Properties Inc. (NYSE:VICI - Get Free Report) have received an average rating of "Moderate Buy" from the sixteen research firms that are covering the stock, Marketbeat.com reports. Eight analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $29.46.

A number of equities analysts have issued reports on VICI shares. Weiss Ratings lowered shares of VICI Properties from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, September 9th. Citizens Jmp dropped 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 report on Friday, October 2nd. Deutsche Bank Aktiengesellschaft set a $30.00 price objective on shares of VICI Properties in a report on Friday, July 31st. Raymond James Financial set a $29.00 price objective on shares of VICI Properties in a research note on Thursday, August 13th. Finally, Robert W. Baird set a $32.00 target price on shares of VICI Properties in a report on Thursday, July 30th.

VICI Properties Stock Up 1.6%

VICI Properties stock opened at $25.18 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.35 and a current ratio of 2.35. The business's 50-day simple moving average is $24.01 and its two-hundred day simple moving average is $26.86. The company has a market cap of $27.72 billion, a PE ratio of 11.55, a PEG ratio of 2.02 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.

VICI Properties (NYSE:VICI - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $1.06 billion. VICI Properties had a return on equity of 8.10% and a net margin of 56.46%. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.60 earnings per share. Equities analysts anticipate that VICI Properties will post 2.47 EPS for the current year.

VICI Properties Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th were issued a $0.46 dividend. The ex-dividend date of this dividend was Thursday, September 17th. This is a positive change from VICI Properties's previous quarterly dividend of $0.45. This represents a $1.84 annualized dividend and a yield of 7.3%. VICI Properties's dividend payout ratio is currently 84.40%.

Institutional Investors Weigh In On VICI Properties

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VICI. BlackRock Inc. acquired a new position in VICI Properties in the second quarter valued at approximately $3,433,817,000. Bank of America Corp DE acquired a new position in shares of VICI Properties in the 2nd quarter valued at $778,709,000. Legal & General Group Plc acquired a new position in shares of VICI Properties in the 2nd quarter valued at $366,514,000. Man Group plc purchased a new stake in VICI Properties during the second quarter worth $318,249,000. Finally, Hsbc Holdings PLC purchased a new stake in VICI Properties during the second quarter worth $281,629,000. 97.71% of the stock is owned by institutional investors and hedge funds.

About VICI Properties

VICI Properties Inc is a real estate investment trust that owns experiential properties, with a portfolio focused primarily on casinos and other gaming-related destinations. Its properties include gaming facilities, hotels, restaurants and entertainment venues.

The company leases its properties to operators under long-term agreements, generally structured as triple-net leases, in which tenants are responsible for expenses such as property taxes, insurance and maintenance. VICI also owns golf courses and other leisure-related properties.

VICI was established in 2017 as part of Caesars Entertainment's restructuring and became an independent, publicly traded company in 2018.

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