Adelante Capital Management LLC Reduces Stake in VICI Properties Inc. $VICI

Key Points

• Adelante Capital Management cut its VICI Properties stake by 17.1% in the first quarter, selling 254,801 shares and retaining 1.24 million shares valued at approximately $33.8 million.
• VICI reported quarterly EPS of $0.82, surpassing the $0.71 consensus estimate, while revenue rose 3.5% year over year to $1.02 billion.
• The company pays a quarterly dividend of $0.45 per share, equivalent to a 6.6% annualized yield. Analysts hold a consensus “Hold” rating, with an average price target of $31.77 versus a recent share price of $27.08.

Adelante Capital Management LLC lessened its holdings in shares of VICI Properties Inc. (NYSE:VICI - Free Report) by 17.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,235,626 shares of the company's stock after selling 254,801 shares during the period. VICI Properties makes up 2.2% of Adelante Capital Management LLC's holdings, making the stock its 15th biggest position. Adelante Capital Management LLC owned approximately 0.12% of VICI Properties worth $33,758,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State of Wyoming purchased a new stake in VICI Properties during the 2nd quarter worth approximately $26,000. Headlands Technologies LLC purchased a new stake in shares of VICI Properties during the 2nd quarter valued at approximately $28,000. Bayban acquired a new position in VICI Properties in the fourth quarter valued at approximately $25,000. Dynamic Wealth Strategies LLC purchased a new position in VICI Properties in the first quarter worth approximately $25,000. Finally, BOKF NA purchased a new position in VICI Properties in the third quarter worth approximately $30,000. Hedge funds and other institutional investors own 97.71% of the company's stock.

VICI Properties Stock Performance

Shares of VICI opened at $27.08 on Wednesday. The company's 50 day simple moving average is $27.21 and its 200 day simple moving average is $28.08. The company has a debt-to-equity ratio of 0.59, a quick ratio of 3.62 and a current ratio of 3.62. VICI Properties Inc. has a 1 year low of $25.82 and a 1 year high of $34.01. The company has a market capitalization of $28.95 billion, a price-to-earnings ratio of 9.28 and a beta of 0.65.

VICI Properties (NYSE:VICI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.71 by $0.11. The company had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.01 billion. VICI Properties had a return on equity of 11.05% and a net margin of 76.83%.The firm's revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.58 EPS. On average, sell-side analysts predict that VICI Properties Inc. will post 2.46 EPS for the current year.

VICI Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Thursday, June 18th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 6.6%. The ex-dividend date was Thursday, June 18th. VICI Properties's dividend payout ratio (DPR) is presently 61.64%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on VICI. Scotiabank reduced their price target on shares of VICI Properties from $32.00 to $29.00 and set a "sector perform" rating on the stock in a research note on Thursday, June 18th. Wells Fargo & Company reduced their price objective on shares of VICI Properties from $29.00 to $27.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 15th. Royal Bank Of Canada initiated coverage on VICI Properties in a report on Thursday, June 25th. They issued a "sector perform" rating and a $29.00 price objective for the company. Weiss Ratings reissued a "hold (c)" rating on shares of VICI Properties in a report on Wednesday, June 24th. Finally, Deutsche Bank Aktiengesellschaft set a $31.00 price target on VICI Properties in a research report on Monday, May 4th. Six investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $31.77.

VICI Properties Company Profile

VICI Properties NYSE: VICI is a publicly traded real estate investment trust (REIT) that specializes in experiential real estate, with a primary focus on gaming, hospitality and entertainment assets. The company acquires, owns and manages a portfolio of destination properties and leases those assets to operators under long-term agreements, generating rental income and partnering on property development and capital projects. VICI was formed in connection with the restructuring of Caesars Entertainment and has since grown through acquisitions and strategic transactions to expand its footprint in the gaming and leisure sector.

The company's portfolio is concentrated in major U.S.

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