Allstate Corp Acquires 30,368 Shares of VICI Properties Inc. $VICI

Key Points

• Allstate Corp increased its stake in VICI Properties Inc. by 16.6% in the first quarter, owning a total of 212,909 shares valued at $6.9 million.
• VICI Properties reported $1 billion in revenue for the last quarter, marking a 4.6% year-over-year increase, with earnings per share meeting consensus estimates.
• Analysts have a consensus rating of "Moderate Buy" for VICI Properties, with a target price average of $35.40, reflecting positive growth forecasts.

Allstate Corp increased its stake in VICI Properties Inc. (NYSE:VICI - Free Report) by 16.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 212,909 shares of the company's stock after purchasing an additional 30,368 shares during the period. Allstate Corp's holdings in VICI Properties were worth $6,945,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of VICI. Blackhawk Capital Partners LLC. grew its stake in VICI Properties by 102.3% in the first quarter. Blackhawk Capital Partners LLC. now owns 19,707 shares of the company's stock valued at $643,000 after purchasing an additional 9,967 shares in the last quarter. DigitalBridge Group Inc. bought a new position in VICI Properties in the fourth quarter valued at approximately $4,282,000. Prevail Innovative Wealth Advisors LLC bought a new position in VICI Properties in the first quarter valued at approximately $2,170,000. Gordian Capital Singapore Pte Ltd bought a new position in VICI Properties in the fourth quarter valued at approximately $2,773,000. Finally, Columbus Macro LLC grew its stake in VICI Properties by 7.8% in the first quarter. Columbus Macro LLC now owns 123,983 shares of the company's stock valued at $4,044,000 after purchasing an additional 8,967 shares in the last quarter. Institutional investors own 97.71% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Stifel Nicolaus raised their price target on VICI Properties from $34.75 to $35.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Citigroup reiterated a "market outperform" rating on shares of VICI Properties in a research note on Tuesday, July 22nd. Wells Fargo & Company raised their target price on shares of VICI Properties from $35.00 to $36.00 and gave the company an "overweight" rating in a research note on Wednesday. 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. Finally, JMP Securities set a $35.00 target price on shares of VICI Properties in a research note on Tuesday, July 22nd. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $35.50.

VICI Properties Stock Performance

VICI stock traded up $0.34 during mid-day trading on Wednesday, hitting $33.79. 2,940,198 shares of the company were exchanged, compared to its average volume of 6,885,670. The business has a 50 day simple moving average of $32.96 and a 200-day simple moving average of $32.13. 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 stock has a market capitalization of $36.03 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 3.35 and a beta of 0.68. VICI Properties Inc. has a 1-year low of $27.98 and a 1-year high of $34.29.

VICI Properties (NYSE:VICI - Get Free Report) last announced its earnings results 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 company 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, equities analysts forecast that VICI Properties Inc. will post 2.31 earnings per share for the current year.

VICI Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th were issued a dividend of $0.4325 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $1.73 annualized dividend and a dividend yield of 5.1%. VICI Properties's dividend payout ratio (DPR) is currently 66.28%.

VICI Properties 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.