VICI Properties Inc. $VICI Stock Position Cut by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its stake in VICI Properties Inc. (NYSE:VICI) by 3.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,382,951 shares of the company’s stock after selling 179,469 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in VICI Properties were worth $100,676,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in VICI. BlackRock Inc. bought a new position in shares of VICI Properties during the 2nd quarter valued at $3,433,817,000. State Street Corp boosted its stake in shares of VICI Properties by 4.5% in the 2nd quarter. State Street Corp now owns 67,155,780 shares of the company’s stock worth $1,812,259,000 after buying an additional 2,920,133 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in shares of VICI Properties by 1.8% in the 2nd quarter. Allianz Asset Management GmbH now owns 31,527,182 shares of the company’s stock worth $837,047,000 after buying an additional 566,922 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of VICI Properties in the second quarter worth $778,709,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of VICI Properties by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 15,457,602 shares of the company’s stock worth $422,294,000 after acquiring an additional 344,355 shares during the period. 97.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Stifel Nicolaus reduced their price objective on VICI Properties from $34.00 to $30.75 and set a “buy” rating for the company in a research report on Thursday. Evercore set a $30.00 target price on VICI Properties in a research report on Monday, September 21st. Morgan Stanley dropped their target price on VICI Properties from $31.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 15th. Citigroup restated a “market outperform” rating on shares of VICI Properties in a research note on Thursday. Finally, Raymond James Financial set a $29.00 price target on shares of VICI Properties in a research report on Thursday, August 13th. Eight equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.61.

VICI Properties Stock Up 2.1%

NYSE VICI opened at $24.98 on Tuesday. VICI Properties Inc. has a 52 week low of $22.42 and a 52 week high of $30.83. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $27.50 billion, a P/E ratio of 11.46 and a beta of 0.65. The stock’s 50-day moving average price is $24.12 and its 200-day moving average price is $26.95.

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 the consensus estimate of $0.72 by ($0.41). VICI Properties had a return on equity of 8.14% and a net margin of 56.46%. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the prior year, the company posted $0.60 earnings per share. The company’s revenue was up 5.8% compared to the same quarter last year. On average, equities research analysts predict that VICI Properties Inc. will post 2.47 earnings per share for the current year.

VICI Properties Increases Dividend

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

About VICI Properties

VICI Properties Inc (NYSE:VICI) is a real estate investment trust that owns and manages experiential properties, with a primary focus on gaming, hospitality and entertainment destinations. The company’s portfolio includes the real estate associated with well-known casinos, resorts, racetracks and golf facilities.

VICI generally leases its properties to gaming and entertainment operators through long-term, triple-net lease agreements. Its tenants operate the properties and are typically responsible for property-level expenses such as maintenance, insurance and taxes, while VICI focuses on owning, maintaining and expanding its real estate portfolio.

The company was established in 2017 as part of the restructuring of Caesars Entertainment Operating Company.