VICI Properties Inc. $VICI Stock: Russell Investments Group Ltd. Grows Holdings

Key Points

• Russell Investments increased its VICI Properties stake by 65.8% in the third quarter, adding about 1.42 million shares to hold 3.57 million shares worth roughly $82.1 million. Institutional investors and hedge funds collectively owned 97.71% of the company.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $29.46; eight analysts rated the stock Buy and eight rated it Hold.
• VICI reported quarterly revenue of $1.07 billion, up 5.8% year over year, but earnings per share of $0.31 fell short of the $0.72 consensus estimate. The company raised its quarterly dividend from $0.45 to $0.46 per share, equivalent to a 7.4% yield at the reported share price.

Russell Investments Group Ltd. grew its position in shares of VICI Properties Inc. (NYSE:VICI - Free Report) by 65.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,571,141 shares of the company's stock after purchasing an additional 1,417,644 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.32% of VICI Properties worth $82,071,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Point Windward Advisors Inc. grew its stake in VICI Properties by 9.9% during the 3rd quarter. Point Windward Advisors Inc. now owns 82,466 shares of the company's stock worth $1,894,000 after buying an additional 7,403 shares during the last quarter. Everest Financial Group LLC lifted its stake in VICI Properties by 12.9% in the third quarter. Everest Financial Group LLC now owns 10,551 shares of the company's stock valued at $242,000 after buying an additional 1,203 shares during the last quarter. Eurizon Capital SGR S.p.A. lifted its stake in VICI Properties by 19.2% in the third quarter. Eurizon Capital SGR S.p.A. now owns 126,894 shares of the company's stock valued at $2,916,000 after buying an additional 20,414 shares during the last quarter. Aew Capital Management Inc. acquired a new stake in shares of VICI Properties in the third quarter valued at approximately $54,215,000. Finally, Maryland State Retirement & Pension System boosted its holdings in shares of VICI Properties by 18.9% in the third quarter. Maryland State Retirement & Pension System now owns 67,229 shares of the company's stock valued at $1,544,000 after acquiring an additional 10,680 shares during the period. Institutional investors and hedge funds own 97.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Robert W. Baird set a $32.00 target price on shares of VICI Properties in a report on Thursday, July 30th. Weiss Ratings downgraded shares of VICI Properties from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, September 9th. Deutsche Bank set a $30.00 price objective on shares of VICI Properties in a research note on Friday, July 31st. Scotiabank reduced their target price on shares of VICI Properties from $29.00 to $26.00 and set a "sector perform" rating for the company in a report on Thursday, September 24th. Finally, Evercore set a $30.00 target price on shares of VICI Properties in a research note on Monday, September 21st. Eight research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $29.46.

VICI Properties Stock Performance

Shares of NYSE:VICI traded up $0.18 during trading on Friday, reaching $24.98. The company had a trading volume of 8,195,001 shares, compared to its average volume of 10,140,294. The firm has a market capitalization of $27.51 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 1.98 and a beta of 0.64. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.35 and a quick ratio of 2.35. The stock's fifty day moving average price is $23.95 and its 200 day moving average price is $26.79. VICI Properties Inc. has a fifty-two week low of $22.42 and a fifty-two week high of $30.60.

VICI Properties (NYSE:VICI - Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.41). VICI Properties had a return on equity of 8.10% and a net margin of 56.46%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the business earned $0.60 earnings per share. VICI Properties's revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, equities research analysts predict that VICI Properties Inc. will post 2.47 EPS for the current year.

VICI Properties Increases Dividend

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

About VICI Properties

VICI Properties Inc. is a real estate investment trust that owns experiential properties, with a portfolio focused primarily on casinos and other gaming-related destinations. Its properties include gaming facilities, hotels, restaurants and entertainment venues. The company leases its properties to operators under long-term agreements, generally structured as triple-net leases, in which tenants are responsible for expenses such as property taxes, insurance and maintenance. VICI also owns golf courses and other leisure-related properties.

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