QRG Capital Management Inc. Acquires 384,037 Shares of VICI Properties Inc. $VICI

Key Points

• QRG Capital Management Inc. increased its holdings in VICI Properties Inc. by 122.2% in Q2, acquiring an additional 384,037 shares, bringing its total ownership to 698,400 shares valued at approximately $22.77 million.
• The firm announced an increase in its quarterly dividend from $0.43 to $0.45, yielding about 5.5%, with the next payment scheduled for October 9th.
• VICI Properties has a consensus rating of "Moderate Buy" with an average price target of $36.00 from thirteen analysts who rated the stock.

QRG Capital Management Inc. boosted its holdings in shares of VICI Properties Inc. (NYSE:VICI - Free Report) by 122.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 698,400 shares of the company's stock after purchasing an additional 384,037 shares during the period. QRG Capital Management Inc. owned about 0.07% of VICI Properties worth $22,768,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wayfinding Financial LLC purchased a new position in VICI Properties during the 1st quarter valued at about $29,000. Hoey Investments Inc. purchased a new position in VICI Properties during the 2nd quarter valued at about $33,000. Avalon Trust Co purchased a new position in VICI Properties during the 1st quarter valued at about $35,000. Investment Management Corp VA ADV increased its holdings in VICI Properties by 171.3% during the 1st quarter. Investment Management Corp VA ADV now owns 1,123 shares of the company's stock valued at $37,000 after purchasing an additional 709 shares during the period. Finally, Kestra Investment Management LLC increased its holdings in VICI Properties by 55.5% during the 1st quarter. Kestra Investment Management LLC now owns 1,776 shares of the company's stock valued at $58,000 after purchasing an additional 634 shares during the period. Hedge funds and other institutional investors own 97.71% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on VICI. JMP Securities set a $35.00 price target on VICI Properties in a report on Tuesday, July 22nd. Stifel Nicolaus upped their target price on VICI Properties from $34.75 to $35.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Weiss Ratings reiterated a "buy (b-)" rating on shares of VICI Properties in a report on Saturday, September 27th. Citigroup reiterated a "market outperform" rating on shares of VICI Properties in a report on Tuesday, July 22nd. Finally, Morgan Stanley upped their target price on VICI Properties from $33.00 to $35.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $36.00.

VICI Properties Stock Performance

Shares of VICI opened at $32.65 on Friday. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.62. The business's 50 day moving average price is $32.90 and its 200-day moving average price is $32.37. VICI Properties Inc. has a 52 week low of $27.98 and a 52 week high of $34.03. The stock has a market cap of $34.81 billion, a P/E ratio of 12.51, a P/E/G ratio of 3.27 and a beta of 0.72.

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

VICI Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 18th will be given a $0.45 dividend. This is a boost from VICI Properties's previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, September 18th. This represents a $1.80 annualized dividend and a yield of 5.5%. VICI Properties's payout ratio is currently 68.97%.

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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