Sound Income Strategies LLC Has $19.30 Million Stake in VICI Properties Inc. $VICI

Key Points

• Sound Income Strategies LLC increased its VICI Properties stake by 5.6% in the second quarter, owning 726,738 shares valued at approximately $19.3 million. Institutional investors and hedge funds collectively own 97.71% of the REIT.
• Analyst sentiment remains mixed but leans toward caution: six analysts rate VICI a Buy and seven rate it a Hold, producing a consensus “Hold” rating and an average price target of $31.46.
• VICI shares opened at $26.10, near their 12-month low, while the company’s quarterly dividend of $0.45 represents an annualized payout of $1.80 and a yield of about 6.9%.

Sound Income Strategies LLC lifted its stake in VICI Properties Inc. (NYSE:VICI - Free Report) by 5.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 726,738 shares of the company's stock after buying an additional 38,567 shares during the period. Sound Income Strategies LLC owned approximately 0.07% of VICI Properties worth $19,295,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Bank of America Corp DE increased its position in VICI Properties by 2.7% in 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 acquiring an additional 734,068 shares during the period. Cbre Investment Management Listed Real Assets LLC lifted its position in VICI Properties by 24.9% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 7,063,264 shares of the company's stock worth $198,619,000 after acquiring an additional 1,406,897 shares during the period. Wilsey Asset Management Inc. lifted its position in VICI Properties by 6.4% during the 1st quarter. Wilsey Asset Management Inc. now owns 1,101,451 shares of the company's stock worth $30,092,000 after acquiring an additional 65,853 shares during the period. Gabelli Funds LLC grew its stake in shares of VICI Properties by 19.4% in the 1st quarter. Gabelli Funds LLC now owns 262,124 shares of the company's stock valued at $7,161,000 after purchasing an additional 42,662 shares during the last quarter. Finally, Border to Coast Pensions Partnership Ltd grew its stake in shares of VICI Properties by 26.1% in the 4th quarter. Border to Coast Pensions Partnership Ltd now owns 725,000 shares of the company's stock valued at $20,424,000 after purchasing an additional 150,000 shares during the last quarter. Institutional investors and hedge funds own 97.71% of the company's stock.

Analyst Upgrades and Downgrades

VICI has been the subject of several recent research reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of VICI Properties in a report on Wednesday, June 24th. Morgan Stanley cut their price objective on shares of VICI Properties from $38.00 to $31.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 8th. Wells Fargo & Company reduced their target price on shares of VICI Properties from $29.00 to $27.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 15th. Scotiabank lowered their target price on shares of VICI Properties from $32.00 to $29.00 and set a "sector perform" rating on the stock in a report on Thursday, June 18th. Finally, Robert W. Baird set a $32.00 price target on shares of VICI Properties in a research note on Thursday, July 30th. Six research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, VICI Properties has a consensus rating of "Hold" and an average price target of $31.46.

VICI Properties Stock Up 0.5%

VICI opened at $26.10 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.98 and a quick ratio of 1.98. VICI Properties Inc. has a 12 month low of $25.82 and a 12 month high of $33.92. The stock has a market capitalization of $28.74 billion, a P/E ratio of 10.12 and a beta of 0.65. The business has a 50 day simple moving average of $26.82 and a 200-day simple moving average of $27.94.

VICI Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th were given a $0.45 dividend. The ex-dividend date was Thursday, June 18th. This represents a $1.80 annualized dividend and a yield of 6.9%. VICI Properties's dividend payout ratio is presently 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.

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