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

VICI Properties (NYSE:VICI) was downgraded by Scotiabank from an “outperform” rating to a “sector perform” rating in a report issued on Friday, Marketbeat Ratings reports. They presently have a $30.00 target price on the stock. Scotiabank’s price target indicates a potential upside of 6.74% from the stock’s previous close.

Several other research firms have also commented on VICI. Cantor Fitzgerald set a $33.00 price target on shares of VICI Properties in a report on Monday, January 5th. Wells Fargo & Company reissued an “equal weight” rating and issued a $32.00 price objective (down previously from $36.00) on shares of VICI Properties in a research note on Tuesday, November 18th. The Goldman Sachs Group lowered their target price on VICI Properties from $38.00 to $34.00 and set a “buy” rating for the company in a report on Friday, November 28th. Evercore ISI reaffirmed an “in-line” rating and set a $32.00 target price (down previously from $36.00) on shares of VICI Properties in a research report on Monday, December 1st. Finally, Barclays reduced their price target on VICI Properties from $37.00 to $33.00 and set an “overweight” rating for the company in a research report on Wednesday, December 3rd. Nine analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.85.

VICI Properties Stock Performance

Shares of VICI Properties stock opened at $28.11 on Friday. The firm has a market cap of $30.04 billion, a P/E ratio of 10.73, a P/E/G ratio of 2.77 and a beta of 0.70. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.60. VICI Properties has a 12 month low of $27.48 and a 12 month high of $34.03. The stock’s fifty day moving average price is $28.24 and its 200-day moving average price is $30.76.

VICI Properties (NYSE:VICI) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.60 earnings per share 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 company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. During the same period in the prior year, the firm earned $0.57 earnings per share. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, equities research analysts expect that VICI Properties will post 2.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On VICI Properties

Large investors have recently modified their holdings of the business. Aptus Capital Advisors LLC boosted its position in VICI Properties by 5.2% in the 3rd quarter. Aptus Capital Advisors LLC now owns 6,623 shares of the company’s stock worth $216,000 after purchasing an additional 329 shares in the last quarter. Arete Wealth Advisors LLC boosted its holdings in VICI Properties by 3.8% during the third quarter. Arete Wealth Advisors LLC now owns 9,110 shares of the company’s stock worth $296,000 after buying an additional 334 shares in the last quarter. Dynamic Advisor Solutions LLC boosted its holdings in VICI Properties by 3.3% during the third quarter. Dynamic Advisor Solutions LLC now owns 10,404 shares of the company’s stock worth $339,000 after buying an additional 337 shares in the last quarter. Heritage Wealth Advisors grew its position in VICI Properties by 18.9% during the second quarter. Heritage Wealth Advisors now owns 2,200 shares of the company’s stock valued at $72,000 after buying an additional 350 shares during the period. Finally, Bell Investment Advisors Inc increased its holdings in VICI Properties by 32.7% in the second quarter. Bell Investment Advisors Inc now owns 1,424 shares of the company’s stock valued at $46,000 after buying an additional 351 shares in the last quarter. Hedge funds and other 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.