VICI Properties (NYSE:VICI) Downgraded to “Sector Perform” Rating by Scotiabank

VICI Properties (NYSE:VICI) was downgraded by Scotiabank from an “outperform” rating to a “sector perform” rating in a research report issued on Friday, MarketBeat reports. They currently have a $30.00 price target on the stock. Scotiabank’s price objective suggests a potential upside of 6.74% from the stock’s previous close.

A number of other research analysts have also weighed in on the company. Barclays cut their price objective on VICI Properties from $37.00 to $33.00 and set an “overweight” rating for the company in a research report on Wednesday, December 3rd. Wells Fargo & Company restated an “equal weight” rating and issued a $32.00 price target (down previously from $36.00) on shares of VICI Properties in a research report on Tuesday, November 18th. Evercore ISI reaffirmed an “in-line” rating and set a $32.00 price target (down previously from $36.00) on shares of VICI Properties in a research note on Monday, December 1st. Cantor Fitzgerald set a $33.00 price objective on shares of VICI Properties in a research note on Monday, January 5th. Finally, The Goldman Sachs Group lowered their price target on shares of VICI Properties from $38.00 to $34.00 and set a “buy” rating for the company in a report on Friday, November 28th. Nine research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, VICI Properties currently has an average rating of “Moderate Buy” and an average price target of $33.85.

VICI Properties Stock Performance

VICI stock opened at $28.11 on Friday. The stock’s fifty day moving average price is $28.24 and its 200-day moving average price is $30.76. The company has a market cap of $30.04 billion, a P/E ratio of 10.73, a price-to-earnings-growth ratio of 2.77 and a beta of 0.70. VICI Properties has a 1 year low of $27.48 and a 1 year high of $34.03. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.60 and a quick ratio of 3.60.

VICI Properties (NYSE:VICI) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.59 by $0.01. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. VICI Properties had a return on equity of 10.17% and a net margin of 70.18%.VICI Properties’s revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.57 EPS. On average, equities analysts forecast that VICI Properties will post 2.31 earnings per share for the current year.

Hedge Funds Weigh In On VICI Properties

Several hedge funds have recently bought and sold shares of VICI. State of Wyoming bought a new stake in shares of VICI Properties during the second quarter worth $26,000. Parvin Asset Management LLC bought a new stake in VICI Properties during the 2nd quarter valued at about $27,000. Headlands Technologies LLC purchased a new stake in VICI Properties in the 2nd quarter valued at about $28,000. Hantz Financial Services Inc. grew its stake in VICI Properties by 489.2% in the 2nd quarter. Hantz Financial Services Inc. now owns 872 shares of the company’s stock worth $28,000 after acquiring an additional 724 shares in the last quarter. Finally, Godsey & Gibb Inc. purchased a new position in shares of VICI Properties during the third quarter worth approximately $29,000. Institutional investors own 97.71% of the company’s stock.

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.