Empire Life Investments Inc. Sells 62,341 Shares of VICI Properties Inc. $VICI

Key Points

• Empire Life Investments cut its VICI Properties stake by 31.3% in the second quarter, selling 62,341 shares and retaining 136,966 shares valued at approximately $3.64 million.
• Institutional ownership remains high at 97.71%, with several other investment firms increasing their positions during the quarter.
• Analysts have a consensus “Hold” rating and an average price target of $31.29, while VICI recently traded at $26.34 and offers a quarterly dividend of $0.45, representing a 6.8% annualized yield.

Empire Life Investments Inc. reduced its holdings in VICI Properties Inc. (NYSE:VICI - Free Report) by 31.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 136,966 shares of the company's stock after selling 62,341 shares during the period. Empire Life Investments Inc.'s holdings in VICI Properties were worth $3,636,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Signaturefd LLC grew its holdings in VICI Properties by 24.1% during the 2nd quarter. Signaturefd LLC now owns 22,929 shares of the company's stock worth $609,000 after acquiring an additional 4,450 shares during the period. Griffin Asset Management Inc. boosted its position in shares of VICI Properties by 19.3% in the 2nd quarter. Griffin Asset Management Inc. now owns 22,320 shares of the company's stock worth $593,000 after purchasing an additional 3,616 shares during the last quarter. PFG Investments LLC grew its stake in shares of VICI Properties by 18.3% during the second quarter. PFG Investments LLC now owns 8,963 shares of the company's stock worth $238,000 after purchasing an additional 1,384 shares during the period. Castellan Group acquired a new stake in shares of VICI Properties during the second quarter worth $4,483,000. Finally, Columbus Macro LLC increased its holdings in VICI Properties by 6.0% in the second quarter. Columbus Macro LLC now owns 191,879 shares of the company's stock valued at $5,094,000 after purchasing an additional 10,785 shares during the last quarter. 97.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on VICI. Deutsche Bank Aktiengesellschaft set a $30.00 target price on VICI Properties in a research report on Friday, July 31st. Cantor Fitzgerald decreased their price objective on shares of VICI Properties from $34.00 to $32.00 and set an "overweight" rating for the company in a report on Monday. Raymond James Financial set a $29.00 target price on shares of VICI Properties in a research note on Thursday. Royal Bank Of Canada began coverage on shares of VICI Properties in a report on Thursday, June 25th. They issued a "sector perform" rating and a $29.00 target price on the stock. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of VICI Properties in a research report on Wednesday, June 24th. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $31.29.

VICI Properties Trading Up 1.0%

NYSE:VICI opened at $26.34 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.98 and a quick ratio of 1.98. The business's 50-day simple moving average is $26.80 and its 200-day simple moving average is $27.92. VICI Properties Inc. has a fifty-two week low of $25.82 and a fifty-two week high of $33.92. The stock has a market capitalization of $29.00 billion, a PE ratio of 10.21 and a beta of 0.65.

VICI Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 6.8%. The ex-dividend date was Thursday, June 18th. VICI Properties's dividend payout ratio is 69.77%.

VICI Properties 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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