VICI Properties Inc. $VICI is Adelante Capital Management LLC's 10th Largest Position

Key Points

• Adelante Capital Management LLC significantly increased its stake in VICI Properties Inc. by 861.9% during the first quarter, making it the fund's 10th largest position.
• VICI Properties recently declared a quarterly dividend of $0.45, an increase from the previous $0.43, representing an annualized yield of 5.4%.
• VICI Properties reported $1 billion in revenue for the most recent quarter, up 4.6% year-over-year, with earnings per share matching analysts' expectations at $0.60.

Adelante Capital Management LLC increased its stake in VICI Properties Inc. (NYSE:VICI - Free Report) by 861.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,424,836 shares of the company's stock after buying an additional 1,276,704 shares during the period. VICI Properties accounts for 3.3% of Adelante Capital Management LLC's portfolio, making the stock its 10th largest position. Adelante Capital Management LLC owned approximately 0.13% of VICI Properties worth $46,478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Wayfinding Financial LLC purchased a new position in shares of VICI Properties during the 1st quarter worth approximately $29,000. CoreCap Advisors LLC boosted its position 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 valued at $30,000 after purchasing an additional 1,000 shares in the last quarter. AdvisorNet Financial Inc grew its stake in VICI Properties by 362.2% in the first quarter. AdvisorNet Financial Inc now owns 1,003 shares of the company's stock worth $33,000 after purchasing an additional 786 shares during the period. Avalon Trust Co bought a new position in VICI Properties in the first quarter worth $35,000. Finally, Investment Management Corp VA ADV lifted its position in 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 buying an additional 709 shares during the period. 97.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of VICI Properties from $37.00 to $38.00 and gave the company an "overweight" rating in a report on Wednesday. JMP Securities set a $35.00 price objective on shares of VICI Properties in a research note on Tuesday, July 22nd. Morgan Stanley upped their price objective on shares of VICI Properties from $33.00 to $35.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Scotiabank lifted their target price on shares of VICI Properties from $35.00 to $36.00 and gave the company an "outperform" rating in a report on Thursday, August 28th. Finally, Stifel Nicolaus boosted their price target on VICI Properties from $34.75 to $35.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Eleven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, VICI Properties has an average rating of "Moderate Buy" and an average price target of $35.75.

VICI Properties Stock Up 0.1%

Shares of NYSE VICI traded up $0.02 during midday trading on Wednesday, hitting $33.14. The stock had a trading volume of 6,106,025 shares, compared to its average volume of 6,953,400. The business's 50 day moving average is $33.16 and its 200-day moving average is $32.36. VICI Properties Inc. has a 52 week low of $27.98 and a 52 week high of $34.29. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.62. The company has a market cap of $35.34 billion, a P/E ratio of 12.70, a PEG ratio of 3.33 and a beta of 0.70.

VICI Properties (NYSE:VICI - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.60 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.60. The company had revenue of $1 billion for the quarter, compared to analysts' expectations of $991.59 million. VICI Properties had a net margin of 70.20% and a return on equity of 10.21%. The firm's quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the company posted $0.57 earnings per share. VICI Properties has set its FY 2025 guidance at 2.350-2.370 EPS. As a group, analysts predict that VICI Properties Inc. will post 2.31 EPS for the current year.

VICI Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.4%. 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 dividend payout ratio is currently 68.97%.

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.