VICI Properties Inc. $VICI Stock Position Decreased by Gerber Kawasaki Wealth & Investment Management

Key Points

• Gerber Kawasaki cut its VICI Properties stake by 12.5% in the third quarter, selling 41,648 shares and retaining 291,685 shares valued at approximately $6.7 million. Institutional investors and hedge funds collectively own 97.71% of VICI.
• Analysts remain moderately bullish, with eight Buy and eight Hold ratings and an average price target of $29.61, although several firms recently lowered their targets.
• VICI reported quarterly revenue of $1.07 billion, up 5.8% year over year, but EPS of $0.31 fell well short of the $0.72 consensus estimate. The company increased its quarterly dividend to $0.46, implying a 7.4% annualized yield.

Gerber Kawasaki Wealth & Investment Management reduced its holdings in shares of VICI Properties Inc. (NYSE:VICI - Free Report) by 12.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 291,685 shares of the company's stock after selling 41,648 shares during the period. Gerber Kawasaki Wealth & Investment Management's holdings in VICI Properties were worth $6,700,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in VICI. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in VICI Properties by 3.4% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,699,040 shares of the company's stock worth $284,060,000 after purchasing an additional 349,262 shares in the last quarter. Amundi raised its position in VICI Properties by 21.1% in the 2nd quarter. Amundi now owns 7,728,135 shares of the company's stock valued at $205,182,000 after purchasing an additional 1,344,994 shares in the last quarter. Rakuten Investment Management Inc. acquired a new stake in VICI Properties in the 2nd quarter valued at about $4,858,000. The Manufacturers Life Insurance Company raised its position in VICI Properties by 19.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,097,823 shares of the company's stock valued at $29,147,000 after purchasing an additional 177,238 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of VICI Properties by 2.7% in the 1st quarter. Bank of America Corp DE now owns 27,948,502 shares of the company's stock valued at $763,553,000 after buying an additional 734,068 shares during the period. 97.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

VICI has been the subject of a number of analyst reports. Truist Financial lowered their price objective on VICI Properties from $38.00 to $32.00 and set a "buy" rating for the company in a research report on Tuesday, October 20th. Stifel Nicolaus reduced their target price on shares of VICI Properties from $34.00 to $30.75 and set a "buy" rating on the stock in a report on Thursday. Evercore set a $30.00 target price on shares of VICI Properties in a report on Monday, September 21st. Morgan Stanley decreased their price target on shares of VICI Properties from $31.00 to $29.00 and set an "equal weight" rating for the company in a research note on Tuesday, September 15th. Finally, Citizens Jmp reduced their price objective on shares of VICI Properties from $35.00 to $31.00 and set a "market outperform" rating on the stock in a report on Friday, October 2nd. Eight analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $29.61.

VICI Properties Trading Up 2.1%

VICI opened at $24.98 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.98 and a current ratio of 1.98. VICI Properties Inc. has a one year low of $22.42 and a one year high of $30.83. The company has a market cap of $27.50 billion, a P/E ratio of 11.46 and a beta of 0.65. The business's 50-day simple moving average is $24.12 and its 200-day simple moving average is $26.95.

VICI Properties (NYSE:VICI - Get Free Report) last issued its earnings results on Wednesday, October 28th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.41). VICI Properties had a net margin of 56.46% and a return on equity of 8.14%. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the company posted $0.60 EPS. The company's quarterly revenue was up 5.8% on a year-over-year basis. As a group, equities research analysts expect that VICI Properties Inc. will post 2.47 EPS for the current fiscal year.

VICI Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 7.4%. The ex-dividend date of this dividend was Thursday, September 17th. This is a positive change from VICI Properties's previous quarterly dividend of $0.45. VICI Properties's dividend payout ratio is presently 84.40%.

VICI Properties Profile

VICI Properties Inc NYSE: VICI is a real estate investment trust that owns and manages experiential properties, with a primary focus on gaming, hospitality and entertainment destinations. The company's portfolio includes the real estate associated with well-known casinos, resorts, racetracks and golf facilities.

VICI generally leases its properties to gaming and entertainment operators through long-term, triple-net lease agreements. Its tenants operate the properties and are typically responsible for property-level expenses such as maintenance, insurance and taxes, while VICI focuses on owning, maintaining and expanding its real estate portfolio.

The company was established in 2017 as part of the restructuring of Caesars Entertainment Operating Company.

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