Vestcor Inc Grows Stake in VICI Properties Inc. (NYSE:VICI)

Key Points

• Vestcor Inc. increased its stake in VICI Properties Inc. by 154.1% during Q1, owning 150,081 shares worth approximately $4.9 million after purchasing an additional 91,019 shares.
• VICI Properties reported earnings of $0.60 per share for the quarter, meeting analysts' expectations, and achieved a revenue of $1 billion, exceeding projections.
• The company announced a quarterly dividend of $0.4325 per share, representing an annualized dividend yield of 5.31%, with a payout ratio of 69.20%.

Vestcor Inc raised its position in VICI Properties Inc. (NYSE:VICI - Free Report) by 154.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 150,081 shares of the company's stock after acquiring an additional 91,019 shares during the period. Vestcor Inc's holdings in VICI Properties were worth $4,896,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Wayfinding Financial LLC acquired a new stake in shares of VICI Properties during the first quarter worth $29,000. Transce3nd LLC acquired a new stake in shares of VICI Properties during the fourth quarter worth $28,000. AdvisorNet Financial Inc lifted its stake in shares of VICI Properties by 362.2% during the first quarter. AdvisorNet Financial Inc now owns 1,003 shares of the company's stock worth $33,000 after buying an additional 786 shares during the period. CoreCap Advisors LLC lifted its stake in shares of VICI Properties by 5,555.6% during the fourth quarter. CoreCap Advisors LLC now owns 1,018 shares of the company's stock worth $30,000 after buying an additional 1,000 shares during the period. Finally, Quarry LP lifted its stake in shares of VICI Properties by 404.1% during the fourth quarter. Quarry LP now owns 1,119 shares of the company's stock worth $33,000 after buying an additional 897 shares during the period. 97.71% of the stock is currently owned by institutional investors and hedge funds.

VICI Properties Stock Performance

VICI traded up $0.50 on Friday, reaching $33.10. The stock had a trading volume of 8,681,918 shares, compared to its average volume of 5,688,895. VICI Properties Inc. has a 12-month low of $27.98 and a 12-month high of $34.29. The company has a current ratio of 1.74, a quick ratio of 2.53 and a debt-to-equity ratio of 0.62. The business's 50-day moving average price is $32.57 and its two-hundred day moving average price is $31.73. The company has a market cap of $34.98 billion, a P/E ratio of 12.68, a price-to-earnings-growth ratio of 4.22 and a beta of 0.68.

VICI Properties (NYSE:VICI - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.60 earnings per share 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 company had revenue of $1 billion during the quarter, compared to analysts' expectations of $991.59 million. During the same quarter in the previous year, the company earned $0.57 earnings per share. The firm's revenue for the quarter was up 4.6% on a year-over-year basis. Sell-side analysts forecast that VICI Properties Inc. will post 2.31 earnings per share for the current year.

VICI Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th were issued a $0.4325 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $1.73 dividend on an annualized basis and a yield of 5.2%. VICI Properties's payout ratio is presently 66.28%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Citigroup reiterated a "market outperform" rating on shares of VICI Properties in a research note on Tuesday, July 22nd. Mizuho lifted their price objective on shares of VICI Properties from $30.00 to $34.00 and gave the stock an "outperform" rating in a research note on Thursday, April 3rd. Morgan Stanley lifted their price objective on shares of VICI Properties from $33.00 to $35.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. JMP Securities set a $35.00 target price on shares of VICI Properties in a research report on Tuesday, July 22nd. Finally, Truist Financial boosted their target price on shares of VICI Properties from $35.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, VICI Properties has an average rating of "Moderate Buy" and an average price target of $35.40.

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.