VICI Properties Inc. $VICI Holdings Trimmed by Gates Capital Management Inc.

Key Points

• Gates Capital Management Inc. reduced its stake in VICI Properties by 11.7% during the first quarter, now owning approximately 2.67 million shares, which constitutes 1.7% of its total holdings.
• VICI Properties recently announced a quarterly dividend of $0.4325 per share, reflecting an annualized dividend yield of 5.1%.
• Wall Street analysts have a consensus rating of "Moderate Buy" for VICI Properties, with the average price target set at $35.55.

Gates Capital Management Inc. decreased its holdings in VICI Properties Inc. (NYSE:VICI - Free Report) by 11.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,669,160 shares of the company's stock after selling 352,600 shares during the period. VICI Properties comprises about 1.7% of Gates Capital Management Inc.'s investment portfolio, making the stock its 19th biggest holding. Gates Capital Management Inc. owned 0.25% of VICI Properties worth $87,068,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Quarry LP boosted its stake in shares of VICI Properties by 404.1% during the 4th quarter. Quarry LP now owns 1,119 shares of the company's stock worth $33,000 after purchasing an additional 897 shares during the period. Lido Advisors LLC raised its position in VICI Properties by 15.7% in the fourth quarter. Lido Advisors LLC now owns 13,017 shares of the company's stock valued at $386,000 after purchasing an additional 1,762 shares during the period. AQR Capital Management LLC boosted its holdings in VICI Properties by 207.3% in the fourth quarter. AQR Capital Management LLC now owns 1,283,244 shares of the company's stock valued at $37,342,000 after purchasing an additional 865,682 shares during the period. Mercer Global Advisors Inc. ADV grew its holdings in shares of VICI Properties by 57.8% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 194,592 shares of the company's stock worth $5,684,000 after buying an additional 71,300 shares during the last quarter. Finally, AXA S.A. grew its position in VICI Properties by 19.5% during the fourth quarter. AXA S.A. now owns 129,617 shares of the company's stock worth $3,786,000 after buying an additional 21,147 shares during the period. Institutional investors own 97.71% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on VICI. Wells Fargo & Company lifted their price objective on shares of VICI Properties from $35.00 to $36.00 and gave the company an "overweight" rating in a research note on Wednesday, August 27th. Morgan Stanley raised their target price on VICI Properties from $33.00 to $35.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. Citigroup reissued a "market outperform" rating on shares of VICI Properties in a research report on Tuesday, July 22nd. JMP Securities set a $35.00 price target on shares of VICI Properties in a research report on Tuesday, July 22nd. Finally, Scotiabank raised their price target on shares of VICI Properties from $35.00 to $36.00 and gave the stock an "outperform" rating in a research report on Thursday, August 28th. Ten investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $35.55.

VICI Properties Stock Performance

Shares of NYSE:VICI traded up $0.10 during trading hours on Thursday, hitting $33.50. The stock had a trading volume of 7,367,705 shares, compared to its average volume of 6,906,726. The stock's fifty day simple moving average is $33.10 and its 200 day simple moving average is $32.26. 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 $35.72 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 3.37 and a beta of 0.70. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.74 and a current ratio of 1.74.

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

VICI Properties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.4%. This is a positive change from VICI Properties's previous quarterly dividend of $0.43. VICI Properties's dividend payout ratio (DPR) is 66.28%.

VICI Properties 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.