VICI Properties (NYSE:VICI) Cut to Sector Perform at Scotiabank

Scotiabank cut shares of VICI Properties (NYSE:VICI) from a sector outperform rating to a sector perform rating in a research report released on Friday, Marketbeat Ratings reports. The firm currently has $30.00 target price on the stock.

Several other brokerages also recently weighed in on VICI. The Goldman Sachs Group dropped their target price on VICI Properties from $38.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, November 28th. Evercore ISI restated an “in-line” rating and set a $32.00 price target (down previously from $36.00) on shares of VICI Properties in a research note on Monday, December 1st. Cantor Fitzgerald set a $33.00 price objective on shares of VICI Properties in a research report on Monday, January 5th. Mizuho dropped their target price on shares of VICI Properties from $35.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 17th. Finally, Stifel Nicolaus decreased their price target on shares of VICI Properties from $35.00 to $34.00 and set a “buy” rating for the company in a report on Friday, October 31st. Nine equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, VICI Properties presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.85.

VICI Properties Stock Performance

Shares of VICI Properties stock opened at $28.07 on Friday. The company has a market capitalization of $30.00 billion, a PE ratio of 10.71, a P/E/G ratio of 2.79 and a beta of 0.70. The company has a 50-day simple moving average of $28.22 and a two-hundred day simple moving average of $30.69. VICI Properties has a one year low of $27.48 and a one year high of $34.03. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.60 and a current ratio of 3.60.

VICI Properties (NYSE:VICI) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.01. VICI Properties had a net margin of 70.18% and a return on equity of 10.17%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the previous year, the firm earned $0.57 EPS. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. Research analysts expect that VICI Properties will post 2.31 EPS for the current fiscal year.

VICI Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Wednesday, December 17th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 6.4%. The ex-dividend date of this dividend was Wednesday, December 17th. VICI Properties’s dividend payout ratio (DPR) is 68.70%.

Institutional Investors Weigh In On VICI Properties

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Wyoming purchased a new stake in shares of VICI Properties in the second quarter worth about $26,000. Parvin Asset Management LLC purchased a new position in shares of VICI Properties during the 2nd quarter valued at approximately $27,000. Headlands Technologies LLC acquired a new position in shares of VICI Properties in the 2nd quarter valued at $28,000. Hantz Financial Services Inc. increased its holdings in VICI Properties by 489.2% in the second quarter. Hantz Financial Services Inc. now owns 872 shares of the company’s stock valued at $28,000 after buying an additional 724 shares in the last quarter. Finally, Godsey & Gibb Inc. purchased a new position in shares of VICI Properties in the 3rd quarter valued at about $29,000. 97.71% of the stock is owned by institutional investors and hedge funds.

VICI Properties Company Profile

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.