Mirae Asset Global Investments Co. Ltd. Makes New $6.78 Million Investment in VICI Properties Inc. $VICI

Key Points

• Mirae Asset Global Investments acquired 295,195 VICI Properties shares in the third quarter, worth approximately $6.78 million. Institutional investors collectively own 97.71% of the company’s stock.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $29.46, though several firms recently lowered their targets.
• VICI’s latest quarterly revenue rose 5.8% year over year to $1.07 billion, but reported EPS of $0.31 fell short of the $0.72 consensus. The company raised its quarterly dividend to $0.46 per share, equivalent to a 7.3% annualized yield.

Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of VICI Properties Inc. (NYSE:VICI - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 295,195 shares of the company's stock, valued at approximately $6,781,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in VICI. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of VICI Properties by 3.4% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,699,040 shares of the company's stock worth $284,060,000 after purchasing an additional 349,262 shares in the last quarter. Amundi increased its position in shares of VICI Properties by 21.1% during the 2nd quarter. Amundi now owns 7,728,135 shares of the company's stock valued at $205,182,000 after purchasing an additional 1,344,994 shares during the last quarter. Rakuten Investment Management Inc. purchased a new position in shares of VICI Properties during the 2nd quarter valued at about $4,858,000. The Manufacturers Life Insurance Company raised its holdings in shares of VICI Properties by 19.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,097,823 shares of the company's stock valued at $29,147,000 after buying an additional 177,238 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of VICI Properties by 2.7% during the 1st quarter. Bank of America Corp DE now owns 27,948,502 shares of the company's stock valued at $763,553,000 after buying an additional 734,068 shares in the last quarter. Hedge funds and other institutional investors own 97.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on VICI. JPMorgan Chase & Co. downgraded VICI Properties from an "overweight" rating to a "neutral" rating and set a $30.00 target price for the company. in a research report on Thursday, September 24th. Scotiabank reduced their price target on shares of VICI Properties from $29.00 to $26.00 and set a "sector perform" rating on the stock in a research report on Thursday, September 24th. Stifel Nicolaus reduced their price target on shares of VICI Properties from $34.00 to $30.75 and set a "buy" rating on the stock in a research report on Thursday, October 29th. Cantor Fitzgerald decreased their price target on shares of VICI Properties from $32.00 to $29.00 and set an "overweight" rating on the stock in a research note on Wednesday. Finally, Evercore set a $30.00 price objective on shares of VICI Properties in a report on Monday, September 21st. Eight equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, VICI Properties presently has an average rating of "Moderate Buy" and a consensus price target of $29.46.

VICI Properties News Roundup

Here are the key news stories impacting VICI Properties this week:

• Positive Sentiment: A recent investment article points to VICI’s long-term leases, full occupancy and an approximately 7.3% forward dividend yield, describing the shares as potentially undervalued. Article: If I Could Put $10,000 Into Just 1 Dividend Grower in November, It'd Be This One
• Positive Sentiment: An article frames VICI’s reported $2 billion buyback as a potential buying opportunity, which could support investor confidence and share demand. Article: VICI’s $2 billion buyback: A massive buying opportunity?
• Neutral Sentiment: Cantor Fitzgerald reiterated its Buy rating, though it recently lowered its price target from $32 to $29. The retained favorable rating is balanced by a more cautious valuation outlook. Article: Cantor Fitzgerald Sticks to Its Buy Rating for VICI Properties
• Negative Sentiment: Citigroup cut its price target from $36 to $30, although it kept a Buy rating. The lower target may weigh on sentiment, even as it still implies potential upside from the cited share price. Citigroup rating information
• Negative Sentiment: Coverage highlighting Treasury yields near 4.9% underscores stronger competition for income-focused investors, a potential headwind for dividend-paying REITs such as VICI. Article: The 10-Year Treasury Yields 4.91%. These 4 Dividend Stocks Pay More

VICI Properties Stock Performance

VICI Properties stock opened at $25.20 on Friday. The firm has a fifty day simple moving average of $24.04 and a two-hundred day simple moving average of $26.89. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.57. VICI Properties Inc. has a twelve month low of $22.42 and a twelve month high of $30.83. The company has a market capitalization of $27.74 billion, a PE ratio of 11.56, a P/E/G ratio of 2.02 and a beta of 0.64.

VICI Properties (NYSE:VICI - Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.72 by ($0.41). VICI Properties had a net margin of 56.46% and a return on equity of 8.10%. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the business posted $0.60 earnings per share. The firm's quarterly revenue was up 5.8% compared to the same quarter last year. Research analysts expect that VICI Properties Inc. will post 2.47 EPS for the current year.

VICI Properties Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th were paid a $0.46 dividend. 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 7.3%. VICI Properties's dividend payout ratio is presently 84.40%.

About VICI Properties

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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