Synovus Financial Corp Trims Position in VICI Properties Inc. (NYSE:VICI)

Synovus Financial Corp trimmed its stake in shares of VICI Properties Inc. (NYSE:VICI - Free Report) by 35.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 14,332 shares of the company's stock after selling 7,866 shares during the quarter. Synovus Financial Corp's holdings in VICI Properties were worth $419,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Geode Capital Management LLC increased its stake in shares of VICI Properties by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 29,512,003 shares of the company's stock valued at $860,107,000 after purchasing an additional 1,036,344 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of VICI Properties by 0.5% during the 4th quarter. Principal Financial Group Inc. now owns 24,202,538 shares of the company's stock valued at $706,962,000 after purchasing an additional 130,659 shares during the last quarter. Norges Bank acquired a new position in VICI Properties during the 4th quarter worth approximately $419,932,000. Invesco Ltd. lifted its stake in VICI Properties by 5.4% in the 4th quarter. Invesco Ltd. now owns 13,414,045 shares of the company's stock valued at $391,824,000 after purchasing an additional 692,092 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in VICI Properties by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,209,337 shares of the company's stock valued at $356,635,000 after buying an additional 385,649 shares in the last quarter. 97.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on VICI. Mizuho boosted their price target on VICI Properties from $30.00 to $34.00 and gave the stock an "outperform" rating in a report on Thursday, April 3rd. Wells Fargo & Company increased their price target on VICI Properties from $34.00 to $35.00 and gave the stock an "overweight" rating in a report on Monday, March 10th. Wedbush downgraded shares of VICI Properties from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, January 8th. Truist Financial reduced their target price on VICI Properties from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. Finally, Stifel Nicolaus increased their price target on VICI Properties from $34.00 to $34.25 and gave the stock a "buy" rating in a report on Thursday, March 27th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, VICI Properties currently has a consensus rating of "Moderate Buy" and an average target price of $34.63.

VICI Properties Stock Up 0.1 %

NYSE:VICI traded up $0.05 on Monday, hitting $32.59. The stock had a trading volume of 727,007 shares, compared to its average volume of 6,016,816. The stock has a market cap of $34.43 billion, a P/E ratio of 12.73, a price-to-earnings-growth ratio of 3.88 and a beta of 0.70. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.61 and a current ratio of 2.61. The firm's fifty day simple moving average is $31.61 and its two-hundred day simple moving average is $31.13. VICI Properties Inc. has a 1 year low of $27.53 and a 1 year high of $34.29.

VICI Properties (NYSE:VICI - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($0.10). The business had revenue of $976.05 million during the quarter, compared to the consensus estimate of $969.29 million. VICI Properties had a net margin of 69.59% and a return on equity of 10.24%. Analysts predict that VICI Properties Inc. will post 2.31 earnings per share for the current year.

VICI Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Thursday, March 20th were issued a $0.4325 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $1.73 dividend on an annualized basis and a dividend yield of 5.31%. VICI Properties's dividend payout ratio (DPR) is presently 67.58%.

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.