VICI Properties (NYSE:VICI) Stock Gets Price Target Cut from Cantor Fitzgerald

VICI Properties (NYSE:VICI) had its target price cut by Cantor Fitzgerald from $32.00 to $29.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Evercore set a $30.00 price objective on shares of VICI Properties in a research report on Monday, September 21st. Raymond James Financial set a $29.00 target price on VICI Properties in a research report on Thursday, August 13th. Robert W. Baird set a $32.00 price target on VICI Properties in a research note on Thursday, July 30th. Wells Fargo & Company cut their price target on VICI Properties from $26.00 to $24.00 and set an “equal weight” rating on the stock in a report on Monday, October 19th. Finally, Citigroup reiterated a “market outperform” rating on shares of VICI Properties in a report on Thursday, October 29th. Eight analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, VICI Properties has a consensus rating of “Moderate Buy” and a consensus target price of $29.46.

VICI Properties Trading Down 1.6%

Shares of VICI stock traded down $0.41 during trading hours on Wednesday, hitting $24.80. 8,542,651 shares of the company were exchanged, compared to its average volume of 10,083,752. The firm has a market cap of $27.30 billion, a P/E ratio of 11.38 and a beta of 0.64. VICI Properties has a fifty-two week low of $22.42 and a fifty-two week high of $30.83. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.35 and a current ratio of 2.35. The company has a 50 day simple moving average of $24.02 and a two-hundred day simple moving average of $26.87.

VICI Properties (NYSE:VICI) last released its earnings results on Wednesday, October 28th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.41). The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.06 billion. VICI Properties had a net margin of 56.46% and a return on equity of 8.10%. The firm’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 EPS. Equities analysts anticipate that VICI Properties will post 2.47 EPS for the current year.

VICI Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th were issued a dividend of $0.46 per share. The ex-dividend date was Thursday, September 17th. This is a positive change from VICI Properties’s previous quarterly dividend of $0.45. This represents a $1.84 annualized dividend and a yield of 7.4%. VICI Properties’s dividend payout ratio is currently 84.40%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Allworth Financial LP boosted its stake in VICI Properties by 14.6% during the 3rd quarter. Allworth Financial LP now owns 11,277 shares of the company’s stock valued at $259,000 after purchasing an additional 1,435 shares during the last quarter. Fisher Asset Management LLC bought a new stake in VICI Properties during the 3rd quarter worth approximately $695,000. SVB Wealth LLC bought a new stake in VICI Properties during the 3rd quarter worth approximately $209,000. Russell Investments Group Ltd. increased its holdings in VICI Properties by 65.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 3,571,141 shares of the company’s stock worth $82,071,000 after purchasing an additional 1,417,644 shares in the last quarter. Finally, Point Windward Advisors Inc. raised its stake in shares of VICI Properties by 9.9% in the third quarter. Point Windward Advisors Inc. now owns 82,466 shares of the company’s stock worth $1,894,000 after purchasing an additional 7,403 shares during the last quarter. 97.71% of the stock is owned by institutional investors.

More VICI Properties News

Here are the key news stories impacting VICI Properties this week:

• Positive Sentiment: A Motley Fool article points to VICI’s long-term leases, full occupancy and an estimated 7.3% forward dividend yield as reasons investors may find the REIT attractive. Article: If I Could Put $10,000 Into Just 1 Dividend Grower in November
• Positive Sentiment: Coverage of a $2 billion buyback raises the prospect of another source of shareholder returns, though the headline frames it as an investment opportunity rather than providing details on timing or execution. Article: VICI’s $2 billion buyback: A massive buying opportunity?
• Neutral Sentiment: Citigroup and Cantor Fitzgerald maintained Buy ratings, signaling continued optimism, but both lowered their price targets. Article: Citi Sticks to Its Buy Rating for VICI Properties Article: Cantor Fitzgerald Sticks to Its Buy Rating for VICI Properties
• Negative Sentiment: Citigroup cut its target to $30 from $36, while keeping its Buy rating; Cantor Fitzgerald also reduced its target. The lower expectations may weigh on sentiment, although Citi’s new target still implies potential upside from the cited $24.80 share price. Article: VICI Properties Stock Price Target Lowered at Citigroup Article: VICI Properties Stock Price Target Cut by Cantor Fitzgerald

VICI Properties Company Profile

VICI Properties Inc is a real estate investment trust that owns experiential properties, with a portfolio focused primarily on casinos and other gaming-related destinations. Its properties include gaming facilities, hotels, restaurants and entertainment venues.

The company leases its properties to operators under long-term agreements, generally structured as triple-net leases, in which tenants are responsible for expenses such as property taxes, insurance and maintenance. VICI also owns golf courses and other leisure-related properties.

VICI was established in 2017 as part of Caesars Entertainment’s restructuring and became an independent, publicly traded company in 2018.