iA Global Asset Management Inc. Takes $783,000 Position in VICI Properties Inc. (NYSE:VICI)

Key Points

• iA Global Asset Management Inc. recently acquired a stake of 23,993 shares in VICI Properties Inc. for approximately $783,000, marking its first investment in the company.
• VICI Properties reported $1 billion in revenue for the last quarter, slightly exceeding analyst expectations, and the company’s earnings per share met the anticipated $0.60.
• The company recently declared a quarterly dividend of $0.4325 per share, resulting in an annualized dividend yield of 5.2%.

iA Global Asset Management Inc. acquired a new stake in shares of VICI Properties Inc. (NYSE:VICI - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 23,993 shares of the company's stock, valued at approximately $783,000.

A number of other institutional investors and hedge funds also recently modified their holdings of VICI. Wells Fargo & Company MN increased its stake in shares of VICI Properties by 0.4% during the 4th quarter. Wells Fargo & Company MN now owns 1,300,707 shares of the company's stock valued at $37,994,000 after acquiring an additional 4,767 shares during the last quarter. Quadrant Capital Group LLC increased its position in VICI Properties by 8.4% during the 4th quarter. Quadrant Capital Group LLC now owns 8,107 shares of the company's stock worth $237,000 after purchasing an additional 629 shares in the last quarter. FMR LLC increased its position in VICI Properties by 8.6% during the 4th quarter. FMR LLC now owns 3,678,416 shares of the company's stock worth $107,447,000 after purchasing an additional 292,280 shares in the last quarter. Cerity Partners LLC increased its position in VICI Properties by 7.9% during the 4th quarter. Cerity Partners LLC now owns 430,920 shares of the company's stock worth $12,791,000 after purchasing an additional 31,616 shares in the last quarter. Finally, Bank of Montreal Can increased its position in VICI Properties by 9.2% during the 4th quarter. Bank of Montreal Can now owns 1,090,841 shares of the company's stock worth $31,863,000 after purchasing an additional 91,897 shares in the last quarter. Institutional investors and hedge funds own 97.71% of the company's stock.

VICI Properties Stock Performance

VICI Properties stock opened at $33.01 on Thursday. The stock has a market cap of $35.20 billion, a P/E ratio of 12.65, a price-to-earnings-growth ratio of 3.36 and a beta of 0.68. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.62. The stock has a 50 day moving average of $32.69 and a 200-day moving average of $31.82. VICI Properties Inc. has a 52 week low of $27.98 and a 52 week high of $34.29.

VICI Properties (NYSE:VICI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.60 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.60. The business 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 business's revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.57 EPS. On average, analysts expect that VICI Properties Inc. will post 2.31 EPS for the current fiscal year.

VICI Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 18th were given a dividend of $0.4325 per share. This represents a $1.73 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend was Wednesday, June 18th. VICI Properties's dividend payout ratio is currently 66.28%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Robert W. Baird upped their price target on VICI Properties from $35.00 to $36.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Citigroup restated a "market outperform" rating on shares of VICI Properties in a report on Tuesday, July 22nd. Stifel Nicolaus upped their price target on VICI Properties from $34.75 to $35.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Truist Financial upped their price target on VICI Properties from $35.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Finally, Morgan Stanley upped their price target on VICI Properties from $33.00 to $35.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $35.40.

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.

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