Zurcher Kantonalbank Zurich Cantonalbank Reduces Stock Holdings in VICI Properties Inc. (NYSE:VICI)

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in VICI Properties Inc. by 32.0%, owning 719,321 shares worth approximately $23.46 million after selling 339,067 shares in the first quarter.
• VICI Properties announced a quarterly dividend of $0.4325 paid on July 10th, resulting in a 5.26% dividend yield.
• The stock experienced a trading increase of 1.2% on Tuesday, reaching $32.87, with a market capitalization of $34.73 billion.

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in VICI Properties Inc. (NYSE:VICI - Free Report) by 32.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 719,321 shares of the company's stock after selling 339,067 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.07% of VICI Properties worth $23,464,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Investment Management Corp VA ADV lifted its stake in shares of VICI Properties by 171.3% in the first quarter. Investment Management Corp VA ADV now owns 1,123 shares of the company's stock worth $37,000 after buying an additional 709 shares in the last quarter. Valley Wealth Managers Inc. increased its stake in shares of VICI Properties by 5.4% in the first quarter. Valley Wealth Managers Inc. now owns 120,027 shares of the company's stock worth $3,915,000 after purchasing an additional 6,157 shares in the last quarter. HB Wealth Management LLC bought a new position in shares of VICI Properties during the first quarter worth $377,000. Mediolanum International Funds Ltd lifted its position in VICI Properties by 0.7% during the first quarter. Mediolanum International Funds Ltd now owns 519,230 shares of the company's stock valued at $16,621,000 after purchasing an additional 3,681 shares during the last quarter. Finally, First Heartland Consultants Inc. bought a new position in VICI Properties during the first quarter valued at $326,000. Hedge funds and other institutional investors own 97.71% of the company's stock.

VICI Properties Price Performance

NYSE:VICI traded up $0.51 during trading hours on Friday, reaching $33.11. 4,177,854 shares of the company were exchanged, compared to its average volume of 6,761,417. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.62. The stock's 50-day moving average is $32.54 and its 200-day moving average is $31.70. The firm has a market cap of $34.98 billion, a PE ratio of 12.70, a price-to-earnings-growth ratio of 4.17 and a beta of 0.70. VICI Properties Inc. has a twelve month low of $27.98 and a twelve month high of $34.29.

VICI Properties (NYSE:VICI - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.60 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.60. VICI Properties had a net margin of 70.20% and a return on equity of 10.27%. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $991.59 million. During the same quarter in the prior year, the firm earned $0.57 earnings per share. The company's revenue for the quarter was up 4.6% compared to the same quarter last year. On average, sell-side analysts anticipate that VICI Properties Inc. will post 2.31 earnings per share for the current fiscal year.

VICI Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 18th were issued a $0.4325 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $1.73 dividend on an annualized basis and a dividend yield of 5.2%. VICI Properties's dividend payout ratio is currently 66.28%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on VICI shares. Stifel Nicolaus raised their target price on shares of VICI Properties from $34.75 to $35.00 and gave the stock a "buy" rating in a report on Thursday. Citigroup reissued a "market outperform" rating on shares of VICI Properties in a research report on Tuesday, July 22nd. JMP Securities set a $35.00 price target on shares of VICI Properties in a report on Tuesday, July 22nd. Truist Financial lifted their target price on shares of VICI Properties from $35.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Finally, Morgan Stanley lifted their target price on shares of VICI Properties from $33.00 to $35.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $35.40.

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.