Fifth Third Bancorp Buys 23,749 Shares of VICI Properties Inc. $VICI

Key Points

• Fifth Third Bancorp increased its stake in VICI Properties by 43.7%, acquiring an additional 23,749 shares in the second quarter, bringing its total holdings to 78,112 shares worth approximately $2.54 million.
• VICI Properties recently declared a quarterly dividend of $0.45, reflecting a boost from the previous dividend of $0.43, resulting in an annualized yield of 5.6%.
• Equities analysts maintain a positive outlook for VICI Properties, with eleven ratings of "Buy" and a price target increasing to an average of $35.92.

Fifth Third Bancorp grew its stake in VICI Properties Inc. (NYSE:VICI - Free Report) by 43.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,112 shares of the company's stock after acquiring an additional 23,749 shares during the period. Fifth Third Bancorp's holdings in VICI Properties were worth $2,546,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in VICI. Wayfinding Financial LLC acquired a new stake in VICI Properties in the 1st quarter valued at about $29,000. AdvisorNet Financial Inc boosted its stake in shares of VICI Properties by 362.2% during the 1st quarter. AdvisorNet Financial Inc now owns 1,003 shares of the company's stock worth $33,000 after acquiring an additional 786 shares during the period. Hoey Investments Inc. bought a new position in shares of VICI Properties during the 2nd quarter worth approximately $33,000. Avalon Trust Co bought a new position in shares of VICI Properties during the 1st quarter worth approximately $35,000. Finally, Investment Management Corp VA ADV boosted its stake in shares of VICI Properties by 171.3% during the 1st quarter. Investment Management Corp VA ADV now owns 1,123 shares of the company's stock worth $37,000 after acquiring an additional 709 shares during the period. Institutional investors and hedge funds own 97.71% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on VICI shares. Citigroup reiterated a "market outperform" rating on shares of VICI Properties in a report on Tuesday, July 22nd. Morgan Stanley increased their price target on shares of VICI Properties from $33.00 to $35.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. Stifel Nicolaus increased their price target on shares of VICI Properties from $34.75 to $35.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Mizuho increased their price target on shares of VICI Properties from $34.00 to $35.00 and gave the company an "outperform" rating in a report on Thursday, September 11th. Finally, Wells Fargo & Company lifted their price target on VICI Properties from $35.00 to $36.00 and gave the stock an "overweight" rating in a report on Wednesday, August 27th. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $35.92.

VICI Properties Stock Performance

Shares of NYSE:VICI opened at $32.43 on Friday. The company's 50 day moving average price is $32.96 and its two-hundred day moving average price is $32.35. VICI Properties Inc. has a 12-month low of $27.98 and a 12-month high of $34.03. The firm has a market cap of $34.58 billion, a PE ratio of 12.43, a PEG ratio of 3.20 and a beta of 0.70. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.62.

VICI Properties (NYSE:VICI - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.60 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.60. VICI Properties had a net margin of 70.20% and a return on equity of 10.21%. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $991.59 million. During the same quarter in the prior year, the business posted $0.57 EPS. The business's revenue was up 4.6% compared to the same quarter last year. VICI Properties has set its FY 2025 guidance at 2.350-2.370 EPS. Equities research analysts predict that VICI Properties Inc. will post 2.31 earnings per share for the current year.

VICI Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 18th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 5.6%. This is a boost from VICI Properties's previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, September 18th. VICI Properties's payout ratio is presently 68.97%.

VICI Properties Company Profile

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.

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