Swedbank AB Buys 2,856,035 Shares of VICI Properties Inc. $VICI

Key Points

• Swedbank AB has significantly increased its stake in VICI Properties Inc. by 156.1%, acquiring an additional 2,856,035 shares, bringing its total ownership to approximately 4.69 million shares valued at $152.77 million.
• The company reported earnings of $0.60 per share, matching analysts' forecasts, and had a revenue of $1 billion for the quarter, which is a 4.6% increase year-over-year.
• VICI Properties announced an increase in its quarterly dividend to $0.45 per share, representing a yield of 5.5%, with payments scheduled for October 9th, 2023.

Swedbank AB lifted its stake in VICI Properties Inc. (NYSE:VICI - Free Report) by 156.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,686,040 shares of the company's stock after buying an additional 2,856,035 shares during the period. Swedbank AB owned about 0.44% of VICI Properties worth $152,765,000 at the end of the most recent reporting period.

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

VICI Properties Stock Down 0.3%

Shares of NYSE:VICI opened at $32.54 on Thursday. 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 stock has a market cap of $34.70 billion, a price-to-earnings ratio of 12.47, a P/E/G ratio of 3.26 and a beta of 0.70. The company has a 50 day moving average of $33.14 and a 200-day moving average of $32.37. VICI Properties Inc. has a one year low of $27.98 and a one year high of $34.03.

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

VICI Properties Increases Dividend

The business also recently disclosed 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. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.5%. 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. VICI Properties's payout ratio is presently 66.28%.

Analyst Ratings Changes

A number of research firms recently weighed in on VICI. Evercore ISI upped their target price on shares of VICI Properties from $37.00 to $38.00 and gave the company an "outperform" rating in a research note on Monday. JPMorgan Chase & Co. upped their price objective on VICI Properties from $37.00 to $38.00 and gave the company an "overweight" rating in a research note on Wednesday, September 10th. Morgan Stanley increased 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. Citigroup reaffirmed a "market outperform" rating on shares of VICI Properties in a research note on Tuesday, July 22nd. Finally, Wells Fargo & Company upped their price target on VICI Properties from $35.00 to $36.00 and gave the company an "overweight" rating in a research report on Wednesday, August 27th. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, VICI Properties presently has an average rating of "Moderate Buy" and an average price target of $35.92.

About VICI Properties

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.

Want to see what other hedge funds are holding VICI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for VICI Properties Inc. (NYSE:VICI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.