VICI Properties (NYSE:VICI) Sets New 1-Year High on Analyst Upgrade

VICI Properties Inc. (NYSE:VICI) shares hit a new 52-week high on Monday after Evercore ISI raised their price target on the stock from $36.00 to $37.00. Evercore ISI currently has an outperform rating on the stock. VICI Properties traded as high as $34.29 and last traded at $34.06, with a volume of 452020 shares changing hands. The stock had previously closed at $33.96.

Separately, Morgan Stanley restated an “equal weight” rating and set a $33.00 price objective on shares of VICI Properties in a research note on Friday, June 21st. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.56.

Institutional Investors Weigh In On VICI Properties

Several hedge funds have recently bought and sold shares of VICI. Vanguard Group Inc. grew its stake in VICI Properties by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 153,674,848 shares of the company’s stock valued at $4,577,974,000 after buying an additional 6,755,553 shares during the last quarter. Capital International Investors lifted its position in shares of VICI Properties by 7.5% during the 1st quarter. Capital International Investors now owns 67,600,000 shares of the company’s stock valued at $2,013,804,000 after acquiring an additional 4,728,903 shares during the period. Capital Research Global Investors grew its holdings in shares of VICI Properties by 8.7% during the 1st quarter. Capital Research Global Investors now owns 37,528,622 shares of the company’s stock worth $1,117,978,000 after purchasing an additional 3,001,793 shares in the last quarter. Cohen & Steers Inc. increased its position in shares of VICI Properties by 132.0% in the fourth quarter. Cohen & Steers Inc. now owns 34,784,906 shares of the company’s stock worth $1,108,993,000 after purchasing an additional 19,788,229 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in VICI Properties by 1.4% in the second quarter. Dimensional Fund Advisors LP now owns 14,632,629 shares of the company’s stock valued at $419,073,000 after purchasing an additional 201,899 shares in the last quarter. 97.71% of the stock is currently owned by institutional investors and hedge funds.

VICI Properties Price Performance

The firm has a market cap of $35.17 billion, a P/E ratio of 13.32, a PEG ratio of 5.28 and a beta of 0.94. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.31 and a quick ratio of 2.31. The company’s 50-day moving average is $31.89 and its two-hundred day moving average is $29.85.

VICI Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Wednesday, September 18th will be given a $0.4325 dividend. This represents a $1.73 dividend on an annualized basis and a yield of 5.13%. The ex-dividend date of this dividend is Wednesday, September 18th. This is a boost from VICI Properties’s previous quarterly dividend of $0.42. VICI Properties’s payout ratio is currently 68.38%.

VICI Properties Company Profile

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.