VICI Properties Inc. $VICI Stock Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group reduced its VICI Properties stake by 3.9%, selling 179,469 shares and retaining 4.38 million shares valued at approximately $100.7 million. Institutional investors collectively own 97.71% of the company.
• VICI reported quarterly revenue of $1.07 billion, slightly above expectations, but earnings per share of $0.31 fell well short of the $0.72 consensus estimate. Revenue increased 5.8% year over year.
• VICI raised its quarterly dividend to $0.46 per share, representing an annualized yield of approximately 7.4%. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $29.61, compared with the stock’s $24.98 price.

Sumitomo Mitsui Trust Group Inc. lowered its stake in VICI Properties Inc. (NYSE:VICI - Free Report) by 3.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,382,951 shares of the company's stock after selling 179,469 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.40% of VICI Properties worth $100,676,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in VICI. Dynamic Wealth Strategies LLC purchased a new position in VICI Properties during the first quarter valued at $25,000. Sachetta LLC boosted its holdings in VICI Properties by 213.1% in the first quarter. Sachetta LLC now owns 1,171 shares of the company's stock worth $32,000 after acquiring an additional 797 shares in the last quarter. Silvant Capital Management LLC purchased a new stake in shares of VICI Properties in the second quarter worth $33,000. Atlatl Advisers LLC purchased a new stake in shares of VICI Properties in the second quarter worth $38,000. Finally, WealthCollab LLC increased its holdings in shares of VICI Properties by 57.3% during the first quarter. WealthCollab LLC now owns 1,933 shares of the company's stock valued at $53,000 after acquiring an additional 704 shares in the last quarter. Hedge funds and other institutional investors own 97.71% of the company's stock.

VICI Properties Stock Up 2.1%

VICI Properties stock opened at $24.98 on Tuesday. The firm has a market cap of $27.50 billion, a price-to-earnings ratio of 11.46 and a beta of 0.65. The stock has a fifty day simple moving average of $24.12 and a two-hundred day simple moving average of $26.95. VICI Properties Inc. has a 12 month low of $22.42 and a 12 month high of $30.83. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.57.

VICI Properties (NYSE:VICI - Get Free Report) last posted 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 8.14% and a net margin of 56.46%. The business had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1.06 billion. During the same quarter in the prior year, the firm earned $0.60 EPS. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. Equities analysts predict 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. Shareholders of record on Thursday, September 17th were given a $0.46 dividend. This is a positive change from VICI Properties's previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, September 17th. This represents a $1.84 dividend on an annualized basis and a yield of 7.4%. VICI Properties's payout ratio is presently 84.40%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on VICI. Robert W. Baird set a $32.00 price target on VICI Properties in a research report on Thursday, July 30th. Evercore set a $30.00 price objective on shares of VICI Properties in a research report on Monday, September 21st. Cantor Fitzgerald reduced their price objective on shares of VICI Properties from $34.00 to $32.00 and set an "overweight" rating for the company in a research note on Monday, August 10th. Scotiabank decreased 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, Citigroup reiterated a "market outperform" rating on shares of VICI Properties in a research note on Thursday. Eight investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, VICI Properties has an average rating of "Moderate Buy" and an average target price of $29.61.

VICI Properties Company 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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