NorthCrest Asset Manangement LLC Purchases Shares of 13,409 VICI Properties Inc. $VICI

Key Points

• NorthCrest Asset Management LLC invested approximately $448,000 in VICI Properties, acquiring 13,409 shares of the company's stock in the 2nd quarter.
• VICI Properties recently declared a quarterly dividend of $0.45, which represents a 5.7% dividend yield and an increase from its previous quarterly dividend of $0.43.
• Analysts have a strong outlook for VICI Properties, with several firms increasing their target prices, resulting in an average rating of "Moderate Buy" and a target price of $35.92.

NorthCrest Asset Manangement LLC bought a new stake in shares of VICI Properties Inc. (NYSE:VICI - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 13,409 shares of the company's stock, valued at approximately $448,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Chesley Taft & Associates LLC boosted its position in shares of VICI Properties by 3.6% during the 2nd quarter. Chesley Taft & Associates LLC now owns 9,321 shares of the company's stock worth $304,000 after purchasing an additional 324 shares in the last quarter. Provident Investment Management Inc. raised its position in VICI Properties by 1.5% in the first quarter. Provident Investment Management Inc. now owns 23,785 shares of the company's stock worth $776,000 after acquiring an additional 350 shares in the last quarter. Cullen Frost Bankers Inc. grew its stake in VICI Properties by 8.5% during the 1st quarter. Cullen Frost Bankers Inc. now owns 4,593 shares of the company's stock valued at $150,000 after acquiring an additional 359 shares in the last quarter. Moran Wealth Management LLC increased its position in VICI Properties by 0.9% in the 1st quarter. Moran Wealth Management LLC now owns 40,578 shares of the company's stock worth $1,324,000 after buying an additional 360 shares during the period. Finally, DAVENPORT & Co LLC grew its position in VICI Properties by 3.9% in the first quarter. DAVENPORT & Co LLC now owns 10,646 shares of the company's stock valued at $347,000 after acquiring an additional 403 shares during the period. 97.71% of the stock is currently owned by hedge funds and other institutional investors.

VICI Properties Stock Performance

NYSE VICI traded down $0.27 on Friday, reaching $31.85. The stock had a trading volume of 19,307,147 shares, compared to its average volume of 8,015,475. VICI Properties Inc. has a 1-year low of $27.98 and a 1-year high of $34.03. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.74 and a quick ratio of 1.74. The company has a market cap of $33.96 billion, a P/E ratio of 12.20, a price-to-earnings-growth ratio of 3.18 and a beta of 0.70. The firm has a fifty day moving average of $33.08 and a two-hundred day moving average of $32.37.

VICI Properties (NYSE:VICI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.60 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.60. The business had revenue of $1 billion for the quarter, compared to analysts' expectations of $991.59 million. VICI Properties had a return on equity of 10.21% and a net margin of 70.20%.The firm's quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.57 EPS. VICI Properties has set its FY 2025 guidance at 2.350-2.370 EPS. On average, equities research analysts anticipate that VICI Properties Inc. will post 2.31 EPS for the current year.

VICI Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 18th will be paid a dividend of $0.45 per share. The ex-dividend date is Thursday, September 18th. This is an increase from VICI Properties's previous quarterly dividend of $0.43. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.7%. VICI Properties's payout ratio is presently 68.97%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on VICI shares. Scotiabank lifted their price objective on VICI Properties from $35.00 to $36.00 and gave the company an "outperform" rating in a report on Thursday, August 28th. Stifel Nicolaus boosted their target price on shares of VICI Properties from $34.75 to $35.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. JMP Securities set a $35.00 target price on shares of VICI Properties in a research report on Tuesday, July 22nd. Wells Fargo & Company upped 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. Finally, Citigroup reissued a "market outperform" rating on shares of VICI Properties in a research report on Tuesday, July 22nd. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, VICI Properties currently has a consensus rating of "Moderate Buy" and a consensus price target of $35.92.

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.