Synergy Asset Management LLC Has $1.16 Million Stake in VICI Properties Inc. $VICI

Key Points

• Synergy Asset Management LLC has reduced its stake in VICI Properties by 21.7% during Q2, now holding 35,691 shares valued at approximately $1.16 million.
• VICI Properties announced a quarterly dividend increase from $0.43 to $0.45 per share, reflecting an annualized dividend yield of 5.5%.
• Analysts forecast continued growth for VICI Properties, with several raising their target prices, resulting in a consensus rating of "Moderate Buy" and a price target of $36.00.

Synergy Asset Management LLC decreased its stake in shares of VICI Properties Inc. (NYSE:VICI - Free Report) by 21.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 35,691 shares of the company's stock after selling 9,917 shares during the period. Synergy Asset Management LLC's holdings in VICI Properties were worth $1,164,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Wayfinding Financial LLC acquired a new stake in VICI Properties in the 1st quarter valued at approximately $29,000. Hoey Investments Inc. acquired a new stake in VICI Properties in the 2nd quarter valued at approximately $33,000. Avalon Trust Co acquired a new stake in VICI Properties in the 1st quarter valued at approximately $35,000. Investment Management Corp VA ADV grew its holdings in VICI Properties by 171.3% in the 1st quarter. Investment Management Corp VA ADV now owns 1,123 shares of the company's stock valued at $37,000 after buying an additional 709 shares during the last quarter. Finally, Kestra Investment Management LLC grew its holdings in VICI Properties by 55.5% in the 1st quarter. Kestra Investment Management LLC now owns 1,776 shares of the company's stock valued at $58,000 after buying an additional 634 shares during the last quarter. Institutional investors and hedge funds own 97.71% of the company's stock.

VICI Properties Price Performance

Shares of NYSE:VICI opened at $32.75 on Friday. VICI Properties Inc. has a 1-year low of $27.98 and a 1-year high of $34.03. The firm has a market capitalization of $34.92 billion, a PE ratio of 12.55, a PEG ratio of 3.28 and a beta of 0.72. The business's 50 day moving average is $32.92 and its 200-day moving average is $32.37. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.62.

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 for the quarter, hitting the consensus estimate of $0.60. VICI Properties had a return on equity of 10.21% and a net margin of 70.20%.The company had revenue of $1 billion for the quarter, compared to analyst estimates of $991.59 million. During the same quarter last year, the firm earned $0.57 EPS. VICI Properties'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. Sell-side analysts predict that VICI Properties Inc. will post 2.31 earnings per share for the current year.

VICI Properties Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on VICI shares. Stifel Nicolaus raised their target price on VICI Properties from $34.75 to $35.00 and gave the company a "buy" rating in a report on Thursday, July 31st. JPMorgan Chase & Co. raised their target price on VICI Properties from $37.00 to $38.00 and gave the company an "overweight" rating in a report on Wednesday, September 10th. JMP Securities set a $35.00 target price on VICI Properties in a report on Tuesday, July 22nd. Scotiabank raised their target price on VICI Properties from $35.00 to $36.00 and gave the company an "outperform" rating in a report on Thursday, August 28th. Finally, Evercore ISI raised their target price on VICI Properties from $37.00 to $38.00 and gave the company an "outperform" rating in a report on Monday, September 15th. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.00.

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.

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.