Wells Fargo & Company Has Lowered Expectations for VICI Properties (NYSE:VICI) Stock Price

Key Points

• Wells Fargo cut its price target on VICI Properties from $29 to $27 while keeping an equal weight rating, implying only about 2.7% upside from the prior close.
• Other analysts have been mixed on the stock, with several recent target reductions but an overall consensus of Moderate Buy and an average price target of $32.21.
• VICI recently reported better-than-expected earnings of $0.82 per share and revenue of $1.02 billion, while shares were trading near $26.29, close to their 52-week low.

VICI Properties (NYSE:VICI - Get Free Report) had its price target decreased by equities researchers at Wells Fargo & Company from $29.00 to $27.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's target price suggests a potential upside of 2.71% from the company's previous close.

VICI has been the topic of a number of other research reports. Royal Bank Of Canada assumed coverage on shares of VICI Properties in a report on Thursday, June 25th. They issued a "sector perform" rating and a $29.00 price objective on the stock. Morgan Stanley lowered their target price on shares of VICI Properties from $38.00 to $31.00 and set an "equal weight" rating for the company in a report on Wednesday, July 8th. Weiss Ratings reissued a "hold (c)" rating on shares of VICI Properties in a research report on Wednesday, June 24th. Barclays raised their price objective on VICI Properties from $33.00 to $34.00 and gave the company an "overweight" rating in a research report on Tuesday, April 21st. Finally, Scotiabank lowered their price objective on VICI Properties from $32.00 to $29.00 and set a "sector perform" rating for the company in a research note on Thursday, June 18th. Seven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, VICI Properties currently has an average rating of "Moderate Buy" and an average target price of $32.21.

VICI Properties Stock Performance

Shares of VICI stock opened at $26.29 on Wednesday. The company has a market capitalization of $28.10 billion, a P/E ratio of 9.00 and a beta of 0.65. VICI Properties has a fifty-two week low of $25.82 and a fifty-two week high of $34.01. The company has a debt-to-equity ratio of 0.59, a quick ratio of 3.62 and a current ratio of 3.62. The stock has a 50 day moving average price of $27.56 and a two-hundred day moving average price of $28.17.

VICI Properties (NYSE:VICI - Get Free Report) last posted its earnings results on Wednesday, April 29th. The company reported $0.82 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.11. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. VICI Properties had a net margin of 76.83% and a return on equity of 11.05%. VICI Properties's revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.58 earnings per share. VICI Properties has set its FY 2026 guidance at 2.440-2.470 EPS. Analysts expect that VICI Properties will post 2.46 earnings per share for the current year.

Hedge Funds Weigh In On VICI Properties

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of VICI Properties by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 158,457,308 shares of the company's stock valued at $4,455,820,000 after purchasing an additional 1,705,855 shares during the last quarter. State Street Corp boosted its stake in VICI Properties by 1.7% during the fourth quarter. State Street Corp now owns 63,619,919 shares of the company's stock valued at $1,817,165,000 after buying an additional 1,080,992 shares during the last quarter. Geode Capital Management LLC grew its holdings in VICI Properties by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 36,209,246 shares of the company's stock valued at $1,030,716,000 after buying an additional 1,037,345 shares in the last quarter. Allianz Asset Management GmbH increased its stake in VICI Properties by 8.2% in the 4th quarter. Allianz Asset Management GmbH now owns 30,292,364 shares of the company's stock worth $851,821,000 after acquiring an additional 2,305,719 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of VICI Properties by 2.7% during the 1st quarter. Bank of America Corp DE now owns 27,948,502 shares of the company's stock worth $763,553,000 after acquiring an additional 734,068 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 NYSE: VICI is a publicly traded real estate investment trust (REIT) that specializes in experiential real estate, with a primary focus on gaming, hospitality and entertainment assets. The company acquires, owns and manages a portfolio of destination properties and leases those assets to operators under long-term agreements, generating rental income and partnering on property development and capital projects. VICI was formed in connection with the restructuring of Caesars Entertainment and has since grown through acquisitions and strategic transactions to expand its footprint in the gaming and leisure sector.

The company's portfolio is concentrated in major U.S.

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