Bahl & Gaynor LLC Sells 3,065,287 Shares of VICI Properties Inc. $VICI

Key Points

• Bahl & Gaynor cut its VICI Properties stake by 64.8%, selling 3,065,287 shares in the third quarter and retaining 1,668,663 shares valued at about $38.3 million.
• VICI reported quarterly EPS of $0.31, below the $0.72 consensus estimate, while revenue of $1.07 billion topped forecasts and rose 5.8% year over year.
• VICI raised its quarterly dividend to $0.46 per share, equivalent to an annualized $1.84 and a 7.4% yield. Analysts’ consensus rating was “Moderate Buy,” with a $29.46 price target.

Bahl & Gaynor LLC lowered its stake in VICI Properties Inc. (NYSE:VICI - Free Report) by 64.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,668,663 shares of the company's stock after selling 3,065,287 shares during the period. Bahl & Gaynor LLC owned 0.15% of VICI Properties worth $38,329,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of VICI. Gamco Investors INC. ET AL lifted its position in shares of VICI Properties by 0.8% during the first quarter. Gamco Investors INC. ET AL now owns 47,615 shares of the company's stock worth $1,301,000 after purchasing an additional 384 shares during the last quarter. Keebeck Wealth Management grew its position in VICI Properties by 4.3% in the 1st quarter. Keebeck Wealth Management now owns 11,909 shares of the company's stock worth $325,000 after purchasing an additional 493 shares during the last quarter. Redwood Investment Management LLC grew its position in VICI Properties by 2.1% in the 1st quarter. Redwood Investment Management LLC now owns 26,075 shares of the company's stock worth $712,000 after purchasing an additional 543 shares during the last quarter. Corrado Advisors LLC increased its stake in shares of VICI Properties by 1.3% in the third quarter. Corrado Advisors LLC now owns 50,534 shares of the company's stock valued at $1,161,000 after purchasing an additional 660 shares during the period. Finally, FreeGulliver LLC increased its stake in shares of VICI Properties by 6.4% in the first quarter. FreeGulliver LLC now owns 11,543 shares of the company's stock valued at $315,000 after purchasing an additional 696 shares during the period. Institutional investors and hedge funds own 97.71% of the company's stock.

VICI Properties Stock Performance

NYSE:VICI opened at $25.00 on Wednesday. VICI Properties Inc. has a twelve month low of $22.42 and a twelve month high of $30.83. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.57. The company has a 50-day moving average of $23.99 and a 200-day moving average of $26.84. The firm has a market cap of $27.53 billion, a price-to-earnings ratio of 11.47, a price-to-earnings-growth ratio of 2.01 and a beta of 0.64.

VICI Properties (NYSE:VICI - Get Free Report) last released its earnings results on Wednesday, October 28th. The company reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.72 by ($0.41). The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.06 billion. VICI Properties had a return on equity of 8.10% and a net margin of 56.46%. The firm'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 firm earned $0.60 earnings per share. Analysts forecast that VICI Properties Inc. will post 2.47 earnings per share for the current fiscal year.

VICI Properties Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 7.4%. This is a boost from VICI Properties's previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, September 17th. VICI Properties's payout ratio is presently 84.40%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Raymond James Financial set a $29.00 price target on VICI Properties in a report on Thursday, August 13th. Barclays decreased their price objective on VICI Properties from $31.00 to $28.00 and set an "overweight" rating for the company in a report on Tuesday, October 20th. Deutsche Bank Aktiengesellschaft set a $30.00 target price on VICI Properties in a research report on Friday, July 31st. Weiss Ratings downgraded VICI Properties from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, September 9th. Finally, Evercore set a $30.00 price target on VICI Properties in a research report on Monday, September 21st. Eight analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $29.46.

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.

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