CenterBook Partners LP Buys New Shares in VICI Properties Inc. $VICI

Key Points

• CenterBook Partners initiated a VICI Properties position, buying 114,595 shares valued at approximately $2.63 million in the third quarter. Institutional investors collectively own 97.71% of the company’s stock.
• VICI reported quarterly EPS of $0.31, below the $0.72 consensus estimate, while revenue of $1.07 billion topped expectations and grew 5.8% year over year.
• The company raised its quarterly dividend to $0.46 per share, equivalent to $1.84 annually and a 7.4% yield at the cited share price. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $29.46.

CenterBook Partners LP bought a new position in VICI Properties Inc. (NYSE:VICI - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 114,595 shares of the company's stock, valued at approximately $2,632,000.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of VICI Properties during the 2nd quarter worth approximately $3,433,817,000. State Street Corp boosted its stake in VICI Properties by 4.5% during the second quarter. State Street Corp now owns 67,155,780 shares of the company's stock worth $1,812,259,000 after acquiring an additional 2,920,133 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in VICI Properties by 1.8% in the second quarter. Allianz Asset Management GmbH now owns 31,527,182 shares of the company's stock worth $837,047,000 after purchasing an additional 566,922 shares during the period. Bank of America Corp DE acquired a new stake in VICI Properties in the second quarter worth $778,709,000. Finally, Dimensional Fund Advisors LP grew its holdings in VICI Properties by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 15,457,602 shares of the company's stock worth $422,294,000 after purchasing an additional 344,355 shares during the period. 97.71% of the stock is currently owned by institutional investors.

VICI Properties Stock Down 1.6%

Shares of NYSE VICI opened at $24.80 on Friday. The stock has a market capitalization of $27.30 billion, a P/E ratio of 11.38, a P/E/G ratio of 1.98 and a beta of 0.64. The company has a 50-day moving average price of $24.02 and a 200-day moving average price of $26.87. VICI Properties Inc. has a 1 year low of $22.42 and a 1 year high of $30.83. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.35 and a quick ratio of 2.35.

VICI Properties (NYSE:VICI - Get Free Report) last posted its earnings results on Wednesday, October 28th. The company reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates of $0.72 by ($0.41). VICI Properties had a return on equity of 8.10% and a net margin of 56.46%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the company earned $0.60 EPS. The company's revenue was up 5.8% on a year-over-year basis. On average, equities research analysts forecast that VICI Properties Inc. will post 2.47 EPS for the current fiscal year.

VICI Properties Increases Dividend

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

More VICI Properties News

Here are the key news stories impacting VICI Properties this week:

• Positive Sentiment: A Motley Fool article points to VICI’s long-term leases, full occupancy and an estimated 7.3% forward dividend yield as reasons investors may find the REIT attractive. Article: If I Could Put $10,000 Into Just 1 Dividend Grower in November
• Positive Sentiment: Coverage of a $2 billion buyback raises the prospect of another source of shareholder returns, though the headline frames it as an investment opportunity rather than providing details on timing or execution. Article: VICI’s $2 billion buyback: A massive buying opportunity?
• Neutral Sentiment: Citigroup and Cantor Fitzgerald maintained Buy ratings, signaling continued optimism, but both lowered their price targets. Article: Citi Sticks to Its Buy Rating for VICI Properties Article: Cantor Fitzgerald Sticks to Its Buy Rating for VICI Properties
• Negative Sentiment: Citigroup cut its target to $30 from $36, while keeping its Buy rating; Cantor Fitzgerald also reduced its target. The lower expectations may weigh on sentiment, although Citi’s new target still implies potential upside from the cited $24.80 share price. Article: VICI Properties Stock Price Target Lowered at Citigroup Article: VICI Properties Stock Price Target Cut by Cantor Fitzgerald

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on VICI. JPMorgan Chase & Co. lowered shares of VICI Properties from an "overweight" rating to a "neutral" rating and set a $30.00 price objective on the stock. in a report on Thursday, September 24th. Stifel Nicolaus reduced their target price on VICI Properties from $34.00 to $30.75 and set a "buy" rating for the company in a research note on Thursday, October 29th. Mizuho reduced their target price on VICI Properties from $30.00 to $27.00 and set a "neutral" rating for the company in a research note on Wednesday, September 2nd. Citizens Jmp decreased their target price on VICI Properties from $35.00 to $31.00 and set a "market outperform" rating for the company in a research report on Friday, October 2nd. Finally, Wells Fargo & Company dropped their price target on VICI Properties from $26.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Monday, October 19th. 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 a consensus rating of "Moderate Buy" and a consensus price target of $29.46.

VICI Properties Company Profile

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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