Mirae Asset Global Investments Co. Ltd. Acquires New Position in VICI Properties Inc. $VICI

Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of VICI Properties Inc. (NYSE:VICI) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 295,195 shares of the company’s stock, valued at approximately $6,781,000.

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

VICI Properties Price Performance

Shares of VICI stock opened at $25.20 on Friday. The firm has a market cap of $27.74 billion, a P/E ratio of 11.56, a P/E/G ratio of 2.02 and a beta of 0.64. VICI Properties Inc. has a fifty-two week low of $22.42 and a fifty-two week high of $30.83. The business’s 50 day moving average price is $24.04 and its 200-day moving average price is $26.89. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.35 and a current ratio of 2.35.

VICI Properties (NYSE:VICI) last posted 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). The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.06 billion. VICI Properties had a net margin of 56.46% and a return on equity of 8.10%. VICI Properties’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm posted $0.60 earnings per share. On average, equities research analysts anticipate that VICI Properties Inc. will post 2.47 earnings per share for the current year.

VICI Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Thursday, September 17th were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 7.3%. This is an increase from VICI Properties’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, September 17th. VICI Properties’s dividend payout ratio (DPR) is presently 84.40%.

Key Headlines Impacting VICI Properties

Here are the key news stories impacting VICI Properties this week:

• Positive Sentiment: A recent investment article points to VICI’s long-term leases, full occupancy and an approximately 7.3% forward dividend yield, describing the shares as potentially undervalued. Article: If I Could Put $10,000 Into Just 1 Dividend Grower in November, It’d Be This One
• Positive Sentiment: An article frames VICI’s reported $2 billion buyback as a potential buying opportunity, which could support investor confidence and share demand. Article: VICI’s $2 billion buyback: A massive buying opportunity?
• Neutral Sentiment: Cantor Fitzgerald reiterated its Buy rating, though it recently lowered its price target from $32 to $29. The retained favorable rating is balanced by a more cautious valuation outlook. Article: Cantor Fitzgerald Sticks to Its Buy Rating for VICI Properties
• Negative Sentiment: Citigroup cut its price target from $36 to $30, although it kept a Buy rating. The lower target may weigh on sentiment, even as it still implies potential upside from the cited share price. Citigroup rating information
• Negative Sentiment: Coverage highlighting Treasury yields near 4.9% underscores stronger competition for income-focused investors, a potential headwind for dividend-paying REITs such as VICI. Article: The 10-Year Treasury Yields 4.91%. These 4 Dividend Stocks Pay More

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Barclays dropped their price target on shares of VICI Properties from $31.00 to $28.00 and set an “overweight” rating for the company in a research report on Tuesday, October 20th. Scotiabank decreased their price objective on shares of VICI Properties from $29.00 to $26.00 and set a “sector perform” rating on the stock in a research report on Thursday, September 24th. Mizuho lowered their price objective on shares of VICI Properties from $30.00 to $27.00 and set a “neutral” rating for the company in a research note on Wednesday, September 2nd. Raymond James Financial set a $29.00 price objective on shares of VICI Properties in a research note on Thursday, August 13th. Finally, Truist Financial dropped their target price on shares of VICI Properties from $38.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, October 20th. Eight research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $29.46.

VICI Properties Company Profile

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.