VICI Properties (NYSE:VICI) Given New $38.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has raised its price target for VICI Properties from $37.00 to $38.00, indicating a potential upside of 14.32% from the stock's previous close.
• VICI Properties reported $1 billion in revenue for the last quarter, exceeding forecasts and achieving a net margin of 70.20%.
• The stock currently has a consensus rating of "Moderate Buy" from analysts, with eleven recommending a buy and three suggesting a hold.

VICI Properties (NYSE:VICI - Get Free Report) had its target price boosted by analysts at JPMorgan Chase & Co. from $37.00 to $38.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 14.32% from the stock's previous close.

VICI has been the topic of several other reports. Scotiabank upped their target price on shares of VICI Properties from $35.00 to $36.00 and gave the stock an "outperform" rating in a research note on Thursday, August 28th. Stifel Nicolaus upped their target price on shares of VICI Properties from $34.75 to $35.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Wells Fargo & Company upped their target price on shares of VICI Properties from $35.00 to $36.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 27th. Morgan Stanley upped 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. Finally, Citigroup reaffirmed a "market outperform" rating on shares of VICI Properties in a research note on Tuesday, July 22nd. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, VICI Properties presently has a consensus rating of "Moderate Buy" and an average target price of $35.75.

VICI Properties Stock Performance

Shares of NYSE VICI traded up $0.12 during midday trading on Wednesday, reaching $33.24. The company had a trading volume of 397,203 shares, compared to its average volume of 6,919,520. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.62. The business's 50-day simple moving average is $33.16 and its 200 day simple moving average is $32.35. VICI Properties has a 1 year low of $27.98 and a 1 year high of $34.29. The stock has a market cap of $35.45 billion, a P/E ratio of 12.73, a P/E/G ratio of 3.33 and a beta of 0.70.

VICI Properties (NYSE:VICI - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.60 EPS for the quarter, hitting analysts' consensus estimates of $0.60. The business had revenue of $1 billion during the quarter, compared to analysts' expectations of $991.59 million. VICI Properties had a net margin of 70.20% and a return on equity of 10.21%. The company's quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.57 earnings per share. VICI Properties has set its FY 2025 guidance at 2.350-2.370 EPS. On average, analysts forecast that VICI Properties will post 2.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On VICI Properties

A number of hedge funds and other institutional investors have recently modified their holdings of VICI. Osaic Holdings Inc. lifted its position in VICI Properties by 74.4% during the second quarter. Osaic Holdings Inc. now owns 377,060 shares of the company's stock valued at $12,296,000 after buying an additional 160,868 shares in the last quarter. Orion Porfolio Solutions LLC lifted its position in shares of VICI Properties by 9.9% during the second quarter. Orion Porfolio Solutions LLC now owns 48,592 shares of the company's stock worth $1,584,000 after purchasing an additional 4,370 shares in the last quarter. Provident Investment Management Inc. lifted its position in shares of VICI Properties by 6.7% during the second quarter. Provident Investment Management Inc. now owns 25,385 shares of the company's stock worth $828,000 after purchasing an additional 1,600 shares in the last quarter. TT Capital Management LLC lifted its position in shares of VICI Properties by 4.5% during the second quarter. TT Capital Management LLC now owns 156,907 shares of the company's stock worth $5,115,000 after purchasing an additional 6,782 shares in the last quarter. Finally, Pathway Financial Advisers LLC lifted its position in shares of VICI Properties by 2.8% during the second quarter. Pathway Financial Advisers LLC now owns 101,939 shares of the company's stock worth $3,323,000 after purchasing an additional 2,772 shares in the last quarter. 97.71% of the stock is currently owned by hedge funds and other institutional investors.

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.

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