VICI Properties Inc. $VICI Shares Purchased by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH increased its stake in VICI Properties by 7.5%, acquiring over 1.7 million additional shares during the second quarter, now holding approximately 25 million shares worth $816.6 million.
• VICI Properties announced a quarterly dividend of $0.45 per share, reflecting a 5.8% dividend yield, which is an increase from the previous dividend of $0.43.
• Analyst ratings for VICI Properties are largely positive, with thirteen analysts giving it a Buy rating and a consensus price target of $36.00, following target price increases from firms like Evercore ISI and Wells Fargo.

Allianz Asset Management GmbH grew its position in shares of VICI Properties Inc. (NYSE:VICI - Free Report) by 7.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,049,606 shares of the company's stock after purchasing an additional 1,755,385 shares during the period. VICI Properties accounts for about 1.0% of Allianz Asset Management GmbH's investment portfolio, making the stock its 10th largest position. Allianz Asset Management GmbH owned about 2.37% of VICI Properties worth $816,617,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Generali Asset Management SPA SGR lifted its stake in shares of VICI Properties by 82.8% during the second quarter. Generali Asset Management SPA SGR now owns 48,790 shares of the company's stock valued at $1,591,000 after buying an additional 22,094 shares during the period. Sagespring Wealth Partners LLC raised its holdings in VICI Properties by 31.7% in the 2nd quarter. Sagespring Wealth Partners LLC now owns 20,154 shares of the company's stock valued at $657,000 after acquiring an additional 4,847 shares during the last quarter. TD Asset Management Inc lifted its stake in shares of VICI Properties by 1.6% during the 2nd quarter. TD Asset Management Inc now owns 666,479 shares of the company's stock worth $21,727,000 after purchasing an additional 10,611 shares during the period. Naviter Wealth LLC boosted its holdings in shares of VICI Properties by 12.8% during the second quarter. Naviter Wealth LLC now owns 71,100 shares of the company's stock worth $2,346,000 after purchasing an additional 8,081 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its position in shares of VICI Properties by 11.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 49,345 shares of the company's stock valued at $1,609,000 after purchasing an additional 4,972 shares during the period. 97.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

VICI has been the topic of several recent analyst reports. Evercore ISI increased their target price on VICI Properties from $37.00 to $38.00 and gave the stock an "outperform" rating in a research report on Monday, September 15th. Wells Fargo & Company upped their price objective on shares of VICI Properties from $35.00 to $36.00 and gave the company an "overweight" rating in a research note on Wednesday, August 27th. Cantor Fitzgerald initiated coverage on shares of VICI Properties in a report on Wednesday, October 1st. They set an "overweight" rating and a $37.00 price objective on the stock. Citigroup restated a "market outperform" rating on shares of VICI Properties in a report on Tuesday, July 22nd. Finally, JMP Securities set a $35.00 price target on shares of VICI Properties in a research report on Tuesday, July 22nd. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.00.

VICI Properties Stock Up 0.6%

Shares of NYSE:VICI opened at $31.29 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.74 and a current ratio of 1.74. VICI Properties Inc. has a 1 year low of $27.98 and a 1 year high of $34.03. The stock has a market capitalization of $33.37 billion, a P/E ratio of 11.99, a PEG ratio of 3.10 and a beta of 0.72. The stock has a 50-day simple moving average of $32.64 and a 200-day simple moving average of $32.34.

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

VICI Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Thursday, September 18th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 5.8%. The ex-dividend date was Thursday, September 18th. This is a positive change from VICI Properties's previous quarterly dividend of $0.43. VICI Properties's dividend payout ratio (DPR) 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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