VICI Properties (NYSE:VICI) Hits New 1-Year Low – Here’s What Happened

VICI Properties Inc. (NYSE:VICI)’s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $25.81 and last traded at $25.8750, with a volume of 2313942 shares trading hands. The stock had previously closed at $26.36.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Robert W. Baird set a $32.00 price target on shares of VICI Properties in a research report on Thursday, July 30th. Raymond James Financial set a $29.00 price objective on shares of VICI Properties in a report on Thursday. Weiss Ratings restated a “hold (c)” rating on shares of VICI Properties in a research report on Wednesday, June 24th. Morgan Stanley lowered their target price on shares of VICI Properties from $38.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 8th. Finally, Barclays dropped their price target on shares of VICI Properties from $34.00 to $31.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $31.29.

VICI Properties Price Performance

The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.98 and a current ratio of 1.98. The company has a market cap of $28.53 billion, a price-to-earnings ratio of 10.04 and a beta of 0.65. The business has a fifty day moving average price of $26.77 and a 200 day moving average price of $27.91.

VICI Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date was Thursday, June 18th. VICI Properties’s payout ratio is currently 69.77%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in VICI. Palogic Value Management L.P. acquired a new stake in shares of VICI Properties in the 2nd quarter valued at approximately $1,166,000. Bank of America Corp DE acquired a new position in VICI Properties during the 2nd quarter worth approximately $778,709,000. Freestone Grove Partners LP acquired a new position in VICI Properties during the 2nd quarter worth approximately $5,309,000. Odyssean LLC bought a new position in VICI Properties in the 2nd quarter valued at approximately $236,000. Finally, Man Group plc bought a new position in VICI Properties in the 2nd quarter valued at approximately $318,249,000. 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.