Turtle Creek Wealth Advisors LLC Takes Position in VICI Properties Inc. $VICI

Key Points

• Turtle Creek Wealth Advisors LLC has acquired a new stake in VICI Properties Inc., purchasing 9,011 shares valued at approximately $294,000 during the second quarter.
• Analysts have issued optimistic outlooks for VICI Properties, with target price increases from firms like Morgan Stanley and Stifel Nicolaus, suggesting a consensus rating of "Moderate Buy" and an average price target of $36.00.
• VICI Properties has recently raised its quarterly dividend to $0.45 per share, reflecting a dividend yield of 5.9%, up from the previous dividend of $0.43.

Turtle Creek Wealth Advisors LLC acquired a new stake in shares of VICI Properties Inc. (NYSE:VICI - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 9,011 shares of the company's stock, valued at approximately $294,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wayfinding Financial LLC bought a new position in shares of VICI Properties during the first quarter valued at approximately $29,000. Hoey Investments Inc. bought a new position in shares of VICI Properties during the second quarter valued at approximately $33,000. Avalon Trust Co bought a new position in shares of VICI Properties during the first quarter valued at approximately $35,000. Investment Management Corp VA ADV boosted its stake in shares of VICI Properties by 171.3% during the first 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 in the last quarter. Finally, Kestra Investment Management LLC boosted its stake in VICI Properties by 55.5% in the first quarter. Kestra Investment Management LLC now owns 1,776 shares of the company's stock valued at $58,000 after acquiring an additional 634 shares in the last quarter. 97.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Morgan Stanley raised their target price on shares of VICI Properties from $33.00 to $35.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. Stifel Nicolaus raised their target price on shares of VICI Properties from $34.75 to $35.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Weiss Ratings restated a "buy (b-)" rating on shares of VICI Properties in a research note on Wednesday, October 8th. Citigroup restated a "market outperform" rating on shares of VICI Properties in a research note on Tuesday, July 22nd. Finally, Mizuho raised their target price on shares of VICI Properties from $34.00 to $35.00 and gave the company an "outperform" rating in a research note on Thursday, September 11th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $36.00.

VICI Properties Trading Down 1.8%

NYSE:VICI opened at $30.73 on Friday. VICI Properties Inc. has a 12 month low of $27.98 and a 12 month high of $34.03. The firm has a fifty day simple moving average of $32.59 and a 200-day simple moving average of $32.33. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $32.77 billion, a P/E ratio of 11.77, a PEG ratio of 3.12 and a beta of 0.72.

VICI Properties (NYSE:VICI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.60 EPS for the quarter, hitting the consensus estimate of $0.60. VICI Properties had a net margin of 70.20% and a return on equity of 10.21%. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $991.59 million. During the same period in the previous year, the firm posted $0.57 earnings per share. 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. On average, equities 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 disclosed a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th were paid a dividend of $0.45 per share. The ex-dividend date was Thursday, September 18th. This is an increase from VICI Properties's previous quarterly dividend of $0.43. This represents a $1.80 annualized dividend and a dividend yield of 5.9%. VICI Properties's payout ratio is presently 68.97%.

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.

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