Legal & General Group Plc Makes New Investment in VICI Properties Inc. $VICI

Key Points

• Legal & General Group Plc acquired 13.8 million VICI Properties shares worth approximately $366.5 million, representing about 1.25% of the REIT. Institutional investors collectively own 97.71% of VICI.
• Analysts maintain a generally neutral outlook, with six Buy ratings and seven Holds; the consensus price target is $31.29, above the reported share price of $26.31.
• VICI reported quarterly revenue of $1.06 billion, up 5.7% year over year, but earnings of $0.62 per share missed estimates. The company also pays a $0.45 quarterly dividend, equal to a 6.8% annualized yield.

Legal & General Group Plc bought a new stake in VICI Properties Inc. (NYSE:VICI - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 13,804,687 shares of the company's stock, valued at approximately $366,514,000. Legal & General Group Plc owned approximately 1.25% of VICI Properties at the end of the most recent quarter.

Several other large investors have also made changes to their positions in VICI. BlackRock Inc. acquired a new stake in shares of VICI Properties in the 2nd quarter valued at $3,433,817,000. Norges Bank bought a new stake in shares of VICI Properties during the 4th quarter worth $537,676,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in VICI Properties by 31,134.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,218,191 shares of the company's stock valued at $287,336,000 after buying an additional 10,185,477 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new position in VICI Properties in the second quarter valued at about $234,632,000. Finally, Cullen Capital Management LLC bought a new position in VICI Properties in the second quarter valued at about $185,045,000. Institutional investors and hedge funds own 97.71% of the company's stock.

Analysts Set New Price Targets

VICI has been the subject of a number of research reports. Scotiabank dropped their target price on shares of VICI Properties from $32.00 to $29.00 and set a "sector perform" rating for the company in a report on Thursday, June 18th. Morgan Stanley decreased their price target on shares of VICI Properties from $38.00 to $31.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 8th. Royal Bank Of Canada began coverage on shares of VICI Properties in a research report on Thursday, June 25th. They set a "sector perform" rating and a $29.00 price objective for the company. Cantor Fitzgerald dropped their price objective on shares of VICI Properties from $34.00 to $32.00 and set an "overweight" rating for the company in a research note on Monday, August 10th. Finally, Raymond James Financial set a $29.00 target price on shares of VICI Properties in a research report on Thursday, August 13th. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $31.29.

VICI Properties Stock Performance

NYSE VICI opened at $26.31 on Wednesday. The company has a market capitalization of $28.97 billion, a price-to-earnings ratio of 10.20 and a beta of 0.65. VICI Properties Inc. has a twelve month low of $25.81 and a twelve month high of $33.92. The stock has a fifty day simple moving average of $26.53 and a 200 day simple moving average of $27.82. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.57.

VICI Properties (NYSE:VICI - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.09). VICI Properties had a return on equity of 9.66% and a net margin of 67.50%.The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the firm posted $0.60 earnings per share. The firm's quarterly revenue 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. Sell-side analysts expect that VICI Properties Inc. will post 2.46 EPS for the current year.

VICI Properties Announces Dividend

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

VICI Properties Company 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.

Want to see what other hedge funds are holding VICI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for VICI Properties Inc. (NYSE:VICI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.