VICI Properties (NYSE:VICI) Reaches New 1-Year Low on Analyst Downgrade

Key Points

• VICI Properties shares hit a new 52-week low of $22.46 after Citizens JMP cut its price target from $35 to $31, despite maintaining an outperform rating. The analyst consensus remains “Hold,” with an average target of $30.
• Institutional investors maintain significant ownership of VICI, holding 97.71% of outstanding shares. BlackRock initiated a multibillion-dollar position, while State Street and other major investors increased their stakes.
• VICI raised its quarterly dividend to $0.46 per share, equivalent to an annualized $1.84 payout and an approximately 8.1% yield. The company’s latest revenue exceeded expectations, although earnings per share fell short of estimates.

VICI Properties Inc. (NYSE:VICI - Get Free Report)'s share price hit a new 52-week low on Monday after Citizens Jmp lowered their price target on the stock from $35.00 to $31.00. Citizens Jmp currently has a market outperform rating on the stock. VICI Properties traded as low as $22.46 and last traded at $22.4470, with a volume of 396485 shares. The stock had previously closed at $22.65.

Several other equities analysts also recently commented on VICI. Cantor Fitzgerald lowered their price objective on VICI Properties from $34.00 to $32.00 and set an "overweight" rating on the stock in a research report on Monday, August 10th. Evercore set a $30.00 target price on VICI Properties in a research report on Monday, September 21st. Raymond James Financial set a $29.00 price target on VICI Properties in a report on Thursday, August 13th. Wells Fargo & Company dropped their price target on VICI Properties from $27.00 to $26.00 and set an "equal weight" rating for the company in a research note on Tuesday, September 1st. Finally, Deutsche Bank Aktiengesellschaft set a $30.00 price objective on shares of VICI Properties in a report on Friday, July 31st. Seven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, VICI Properties currently has a consensus rating of "Hold" and a consensus price target of $30.00.

Hedge Funds Weigh In On VICI Properties

A number of large investors have recently made changes to their positions in VICI. BlackRock Inc. purchased a new stake in shares of VICI Properties during the second quarter valued at $3,433,817,000. State Street Corp lifted its holdings in VICI Properties by 4.5% during the 2nd quarter. State Street Corp now owns 67,155,780 shares of the company's stock valued at $1,812,259,000 after buying an additional 2,920,133 shares in the last quarter. Allianz Asset Management GmbH boosted its position in VICI Properties by 1.8% in the 2nd quarter. Allianz Asset Management GmbH now owns 31,527,182 shares of the company's stock valued at $837,047,000 after buying an additional 566,922 shares during the period. Bank of America Corp DE purchased a new position in shares of VICI Properties during the second quarter worth approximately $778,709,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of VICI Properties by 2.3% during the first quarter. Dimensional Fund Advisors LP now owns 15,457,602 shares of the company's stock valued at $422,294,000 after acquiring an additional 344,355 shares in the last quarter. 97.71% of the stock is owned by hedge funds and other institutional investors.

VICI Properties Stock Up 0.0%

The stock has a market cap of $24.94 billion, a PE ratio of 8.75 and a beta of 0.65. The business has a fifty day moving average of $25.37 and a 200-day moving average of $26.84. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.98 and a quick ratio of 1.98.

VICI Properties (NYSE:VICI - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $0.62 earnings per share for the quarter, missing analysts' consensus estimates of $0.71 by ($0.09). VICI Properties had a net margin of 67.50% and a return on equity of 9.66%. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the firm earned $0.60 earnings per share. The company's revenue for the quarter was up 5.7% on a year-over-year basis. VICI Properties has set its FY 2026 guidance at 2.450-2.470 EPS. Equities research analysts anticipate that VICI Properties Inc. will post 2.47 earnings per share for the current year.

VICI Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Thursday, September 17th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 8.1%. This is a positive change from VICI Properties's previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Thursday, September 17th. VICI Properties's payout ratio is presently 71.32%.

About VICI Properties

VICI Properties Inc NYSE: VICI is a real estate investment trust that owns and acquires experiential real estate, with a primary focus on gaming, hospitality and entertainment properties. The company generates revenue by leasing its properties to operating partners, generally under long-term, triple-net lease agreements that place responsibility for property-level expenses with the tenants.

VICI's portfolio includes some of the most recognized gaming and resort destinations in the United States, including properties associated with Caesars Entertainment, MGM Resorts International and other gaming operators.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.