VICI Properties (VICI) Rating Increased to Buy at Bank of America

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VICI Properties (NYSE:VICI) was upgraded by equities researchers at Bank of America from a “neutral” rating to a “buy” rating in a research note issued to investors on Monday, October 15th, Marketbeat Ratings reports. The firm currently has a $23.00 price target on the stock. Bank of America’s target price would suggest a potential upside of 5.99% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Citigroup decreased their price objective on shares of VICI Properties from $22.00 to $21.00 and set a “hold” rating on the stock in a report on Thursday, August 9th. Zacks Investment Research raised shares of VICI Properties from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Friday, June 22nd. Nomura assumed coverage on shares of VICI Properties in a report on Wednesday, September 26th. They set a “buy” rating and a $29.00 price objective on the stock. Credit Suisse Group assumed coverage on shares of VICI Properties in a report on Tuesday, August 14th. They set an “outperform” rating and a $24.00 price objective on the stock. Finally, Morgan Stanley increased their price objective on shares of VICI Properties from $22.00 to $23.00 and gave the stock a “hold” rating in a report on Tuesday, July 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $23.23.

Shares of VICI stock traded down $0.05 during mid-day trading on Monday, reaching $21.70. The company’s stock had a trading volume of 2,622,871 shares, compared to its average volume of 3,291,992. The company has a debt-to-equity ratio of 0.66, a quick ratio of 65.13 and a current ratio of 65.13. VICI Properties has a 1-year low of $17.58 and a 1-year high of $22.99.

VICI Properties (NYSE:VICI) last posted its earnings results on Thursday, November 1st. The company reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.04). The firm had revenue of $233.00 million for the quarter, compared to analyst estimates of $225.38 million. Sell-side analysts expect that VICI Properties will post 1.45 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the business. Canyon Capital Advisors LLC grew its stake in shares of VICI Properties by 0.6% during the 2nd quarter. Canyon Capital Advisors LLC now owns 45,561,818 shares of the company’s stock worth $938,255,000 after acquiring an additional 260,000 shares in the last quarter. Allianz Asset Management GmbH bought a new position in shares of VICI Properties during the 1st quarter worth approximately $521,813,000. BlackRock Inc. grew its stake in shares of VICI Properties by 50.0% during the 3rd quarter. BlackRock Inc. now owns 20,175,393 shares of the company’s stock worth $436,194,000 after acquiring an additional 6,726,335 shares in the last quarter. Cbre Clarion Securities LLC grew its stake in shares of VICI Properties by 29.6% during the 2nd quarter. Cbre Clarion Securities LLC now owns 9,722,591 shares of the company’s stock worth $200,674,000 after acquiring an additional 2,222,587 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in shares of VICI Properties by 31.0% during the 3rd quarter. Daiwa Securities Group Inc. now owns 7,302,206 shares of the company’s stock worth $157,874,000 after acquiring an additional 1,727,030 shares in the last quarter.

About VICI Properties

VICI Properties Inc, an asset real estate investment trust, owns, acquires, and develops gaming, hospitality, and entertainment destinations in the United States. It operates through two segments, Real Property Business and Golf Course Business. The company's property portfolio includes 20 gaming facilities comprising approximately 36 million square feet, as well as approximately 14,500 hotel rooms, 150 restaurants, bars, and nightclubs.

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Analyst Recommendations for VICI Properties (NYSE:VICI)

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