Royal Bank of Canada Increases Holdings in VICI Properties Inc. $VICI

Key Points

• Royal Bank of Canada increased its stake in VICI Properties Inc. by purchasing an additional 99,504 shares, bringing its total holdings to approximately 3.69 million shares, worth about $120.5 million.
• Analysts' price targets for VICI Properties have been raised, with recommendations highlighting a target range between $35.00 and $36.00 from various firms, indicating a positive outlook on the stock.
• VICI Properties has declared a quarterly dividend of $0.4325, resulting in an annual dividend yield of 5.2%, demonstrating a commitment to returning value to shareholders.

Royal Bank of Canada increased its stake in VICI Properties Inc. (NYSE:VICI - Free Report) by 2.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,693,270 shares of the company's stock after purchasing an additional 99,504 shares during the quarter. Royal Bank of Canada owned 0.35% of VICI Properties worth $120,475,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in VICI. Price T Rowe Associates Inc. MD boosted its holdings in VICI Properties by 205.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,047,082 shares of the company's stock worth $556,077,000 after purchasing an additional 11,458,239 shares during the last quarter. Nuveen LLC purchased a new position in shares of VICI Properties during the 1st quarter worth $320,179,000. Deutsche Bank AG boosted its stake in shares of VICI Properties by 172.4% during the 1st quarter. Deutsche Bank AG now owns 7,395,134 shares of the company's stock worth $241,229,000 after acquiring an additional 4,680,136 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of VICI Properties by 81.6% during the 1st quarter. American Century Companies Inc. now owns 8,252,528 shares of the company's stock worth $269,197,000 after acquiring an additional 3,707,396 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of VICI Properties by 2,437.5% during the 4th quarter. Mackenzie Financial Corp now owns 3,388,619 shares of the company's stock worth $98,982,000 after acquiring an additional 3,255,078 shares during the last quarter. Hedge funds and other institutional investors own 97.71% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on VICI shares. Stifel Nicolaus lifted their price target on shares of VICI Properties from $34.75 to $35.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. JMP Securities set a $35.00 price target on shares of VICI Properties in a research note on Tuesday, July 22nd. Citigroup reiterated a "market outperform" rating on shares of VICI Properties in a research note on Tuesday, July 22nd. Wells Fargo & Company lifted their target price 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, Morgan Stanley upped their target price on shares of VICI Properties from $33.00 to $35.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Ten investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $35.55.

VICI Properties Price Performance

VICI stock traded up $0.10 during mid-day trading on Friday, hitting $33.60. The company had a trading volume of 5,765,850 shares, compared to its average volume of 7,550,876. The company has a market capitalization of $35.82 billion, a price-to-earnings ratio of 12.87, a P/E/G ratio of 3.35 and a beta of 0.70. VICI Properties Inc. has a 12-month low of $27.98 and a 12-month high of $34.29. 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 company has a 50-day moving average price of $33.15 and a 200 day moving average price of $32.31.

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

VICI Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 5.4%. The ex-dividend date is Thursday, September 18th. This is an increase from VICI Properties's previous quarterly dividend of $0.43. VICI Properties's dividend payout ratio is presently 66.28%.

VICI Properties Company 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.