Hourglass Capital LLC Sells 49,518 Shares of VICI Properties Inc. $VICI

Key Points

• Hourglass Capital reduced its VICI Properties stake by 22.4% in the third quarter, selling 49,518 shares and retaining 171,840 shares valued at approximately $3.95 million.
• VICI remains heavily institutionally owned, with hedge funds and institutional investors holding 97.71% of shares. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $29.81, compared with the stock’s $24.01 opening price.
• VICI increased its quarterly dividend to $0.46 per share, representing an annualized yield of about 7.7%. Its latest quarterly revenue rose 5.7% year over year to $1.06 billion, though earnings per share came in below analyst expectations.

Hourglass Capital LLC cut its stake in shares of VICI Properties Inc. (NYSE:VICI - Free Report) by 22.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 171,840 shares of the company's stock after selling 49,518 shares during the period. Hourglass Capital LLC's holdings in VICI Properties were worth $3,947,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of VICI. Leo Wealth LLC acquired a new position in shares of VICI Properties in the third quarter valued at approximately $944,000. Apollon Wealth Management LLC lifted its holdings in VICI Properties by 11.4% during the 3rd quarter. Apollon Wealth Management LLC now owns 13,139 shares of the company's stock worth $302,000 after purchasing an additional 1,349 shares during the last quarter. Signaturefd LLC boosted its stake in VICI Properties by 114.5% in the 3rd quarter. Signaturefd LLC now owns 49,192 shares of the company's stock valued at $1,130,000 after purchasing an additional 26,263 shares during the period. BG Investment Services LLC bought a new stake in VICI Properties in the 3rd quarter valued at $500,000. Finally, Evergreen Capital Management LLC grew its holdings in VICI Properties by 4.3% in the 3rd quarter. Evergreen Capital Management LLC now owns 447,410 shares of the company's stock valued at $10,279,000 after buying an additional 18,445 shares in the last quarter. 97.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on VICI shares. Robert W. Baird set a $32.00 target price on VICI Properties in a report on Thursday, July 30th. Weiss Ratings downgraded shares of VICI Properties from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, September 9th. Mizuho lowered their price target on shares of VICI Properties from $30.00 to $27.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 2nd. Citizens Jmp lowered their price target on shares of VICI Properties from $35.00 to $31.00 and set a "market outperform" rating on the stock in a research report on Friday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft set a $30.00 price objective on shares of VICI Properties in a research note on Friday, July 31st. Eight equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.81.

VICI Properties Price Performance

Shares of NYSE VICI opened at $24.01 on Tuesday. The business has a fifty day moving average price of $24.33 and a two-hundred day moving average price of $27.03. The stock has a market capitalization of $26.44 billion, a PE ratio of 9.31 and a beta of 0.65. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.98 and a quick ratio of 1.98. VICI Properties Inc. has a fifty-two week low of $22.42 and a fifty-two week high of $31.18.

VICI Properties (NYSE:VICI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.62 EPS for the quarter, missing analysts' consensus estimates of $0.71 by ($0.09). VICI Properties had a net margin of 67.50% and a return on equity of 9.66%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the firm earned $0.60 EPS. The firm's revenue for the quarter was up 5.7% compared to the same quarter last year. VICI Properties has set its FY 2026 guidance at 2.450-2.470 EPS. As a group, equities analysts predict that VICI Properties Inc. will post 2.47 earnings per share for the current fiscal year.

VICI Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th were issued a dividend of $0.46 per share. This is a boost from VICI Properties's previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, September 17th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 7.7%. VICI Properties's payout ratio is currently 71.32%.

VICI Properties Profile

VICI Properties Inc NYSE: VICI is a real estate investment trust that owns and manages experiential properties, with a primary focus on gaming, hospitality and entertainment destinations. The company's portfolio includes the real estate associated with well-known casinos, resorts, racetracks and golf facilities.

VICI generally leases its properties to gaming and entertainment operators through long-term, triple-net lease agreements. Its tenants operate the properties and are typically responsible for property-level expenses such as maintenance, insurance and taxes, while VICI focuses on owning, maintaining and expanding its real estate portfolio.

The company was established in 2017 as part of the restructuring of Caesars Entertainment Operating Company.

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