Convergence Investment Partners LLC Buys Shares of 51,499 VICI Properties Inc. (NYSE:VICI)

Convergence Investment Partners LLC acquired a new position in shares of VICI Properties Inc. (NYSE:VICI - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 51,499 shares of the company's stock, valued at approximately $1,680,000.

Other institutional investors have also modified their holdings of the company. Teacher Retirement System of Texas grew its stake in shares of VICI Properties by 40.4% during the 4th quarter. Teacher Retirement System of Texas now owns 9,801 shares of the company's stock worth $286,000 after purchasing an additional 2,819 shares during the period. Virtu Financial LLC acquired a new stake in VICI Properties in the 4th quarter valued at about $307,000. Mizuho Securities USA LLC grew its stake in VICI Properties by 47.1% in the 4th quarter. Mizuho Securities USA LLC now owns 99,912 shares of the company's stock valued at $2,918,000 after acquiring an additional 32,008 shares during the last quarter. Prudential Financial Inc. grew its stake in VICI Properties by 125.9% in the 4th quarter. Prudential Financial Inc. now owns 1,659,922 shares of the company's stock valued at $48,486,000 after acquiring an additional 925,041 shares during the last quarter. Finally, First American Trust FSB grew its stake in VICI Properties by 0.3% in the 4th quarter. First American Trust FSB now owns 180,439 shares of the company's stock valued at $5,271,000 after acquiring an additional 627 shares during the last quarter. Hedge funds and other institutional investors own 97.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on VICI shares. Citigroup restated a "market outperform" rating on shares of VICI Properties in a report on Tuesday. Stifel Nicolaus upped their target price on shares of VICI Properties from $34.25 to $34.75 and gave the company a "buy" rating in a report on Thursday, May 1st. Mizuho upped their target price on shares of VICI Properties from $30.00 to $34.00 and gave the company an "outperform" rating in a report on Thursday, April 3rd. Robert W. Baird increased their price objective on shares of VICI Properties from $35.00 to $36.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Finally, JMP Securities set a $35.00 price objective on shares of VICI Properties in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, VICI Properties currently has an average rating of "Moderate Buy" and a consensus price target of $35.38.

VICI Properties Stock Performance

Shares of VICI traded down $0.04 during midday trading on Friday, hitting $33.37. 5,275,519 shares of the stock traded hands, compared to its average volume of 6,787,571. VICI Properties Inc. has a 1-year low of $27.98 and a 1-year high of $34.29. The firm has a market capitalization of $35.27 billion, a PE ratio of 13.35, a price-to-earnings-growth ratio of 4.29 and a beta of 0.70. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.53 and a current ratio of 2.53. The business's 50 day moving average price is $32.43 and its two-hundred day moving average price is $31.56.

VICI Properties (NYSE:VICI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.58 EPS for the quarter, hitting the consensus estimate of $0.58. The firm had revenue of $984.20 million for the quarter, compared to analysts' expectations of $976.51 million. VICI Properties had a net margin of 67.81% and a return on equity of 9.88%. VICI Properties's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.56 earnings per share. Equities research analysts predict that VICI Properties Inc. will post 2.31 EPS for the current fiscal year.

VICI Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 18th were paid a $0.4325 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $1.73 dividend on an annualized basis and a yield of 5.18%. VICI Properties's dividend payout ratio is currently 69.20%.

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.