Adage Capital Partners GP L.L.C. Sells 512,300 Shares of VICI Properties Inc. $VICI

Key Points

• Adage Capital Partners GP L.L.C. reduced its stake in VICI Properties Inc. by 29.7% in the first quarter, selling 512,300 shares and leaving them with 1,212,100 shares valued at approximately $39.5 million.
• Multiple institutional investors have adjusted their positions in VICI Properties, with significant increases from Provident Investment Management Inc. and Cullen Frost Bankers Inc., among others.
• VICI Properties recently reported earnings of $0.60 per share, meeting analysts' expectations, with revenue of $1 billion for the quarter, indicating a 4.6% year-over-year growth.

Adage Capital Partners GP L.L.C. decreased its stake in shares of VICI Properties Inc. (NYSE:VICI - Free Report) by 29.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,212,100 shares of the company's stock after selling 512,300 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.11% of VICI Properties worth $39,539,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in VICI. Provident Investment Management Inc. increased its stake in shares of VICI Properties by 1.5% in the first quarter. Provident Investment Management Inc. now owns 23,785 shares of the company's stock worth $776,000 after purchasing an additional 350 shares in the last quarter. Cullen Frost Bankers Inc. increased its stake in shares of VICI Properties by 8.5% in the first quarter. Cullen Frost Bankers Inc. now owns 4,593 shares of the company's stock worth $150,000 after purchasing an additional 359 shares in the last quarter. Moran Wealth Management LLC increased its stake in shares of VICI Properties by 0.9% in the first quarter. Moran Wealth Management LLC now owns 40,578 shares of the company's stock worth $1,324,000 after purchasing an additional 360 shares in the last quarter. Benjamin Edwards Inc. increased its stake in shares of VICI Properties by 3.1% in the fourth quarter. Benjamin Edwards Inc. now owns 12,646 shares of the company's stock worth $369,000 after purchasing an additional 378 shares in the last quarter. Finally, DAVENPORT & Co LLC increased its stake in shares of VICI Properties by 3.9% in the first quarter. DAVENPORT & Co LLC now owns 10,646 shares of the company's stock worth $347,000 after purchasing an additional 403 shares in the last quarter. Hedge funds and other institutional investors own 97.71% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on VICI. Morgan Stanley increased their price objective on shares of VICI Properties from $33.00 to $35.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Wells Fargo & Company boosted their target price on shares of VICI Properties from $35.00 to $36.00 and gave the stock an "overweight" rating in a report on Wednesday, August 27th. Citigroup reissued a "market outperform" rating on shares of VICI Properties in a report on Tuesday, July 22nd. JMP Securities set a $35.00 target price on shares of VICI Properties in a report on Tuesday, July 22nd. Finally, Scotiabank raised their price target on VICI Properties from $35.00 to $36.00 and gave the company an "outperform" rating in a report on Thursday, August 28th. Ten research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $35.55.

VICI Properties Price Performance

Shares of VICI stock traded up $0.10 on Friday, reaching $33.60. The company's stock had a trading volume of 5,765,850 shares, compared to its average volume of 7,550,876. The stock's fifty day simple moving average is $33.15 and its 200-day simple moving average is $32.32. VICI Properties Inc. has a 1 year low of $27.98 and a 1 year high of $34.29. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $35.82 billion, a price-to-earnings ratio of 12.87, a price-to-earnings-growth ratio of 3.36 and a beta of 0.70.

VICI Properties (NYSE:VICI - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.60 earnings per share for the quarter, meeting analysts' consensus estimates of $0.60. VICI Properties had a net margin of 70.20% and a return on equity of 10.21%. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $991.59 million. During the same period last year, the firm posted $0.57 earnings per share. VICI Properties's revenue for the quarter was up 4.6% compared to the same quarter last year. VICI Properties has set its FY 2025 guidance at 2.350-2.370 EPS. Analysts forecast that VICI Properties Inc. will post 2.31 earnings per share for the current fiscal year.

VICI Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 18th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 5.4%. The ex-dividend date is Thursday, September 18th. This is a boost from VICI Properties's previous quarterly dividend of $0.43. VICI Properties's payout ratio is currently 68.97%.

About VICI Properties

VICI Properties Inc is an S&P 500 experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality and entertainment destinations, including Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las Vegas, three of the most iconic entertainment facilities on the Las Vegas Strip.