VICI Properties (NYSE:VICI) Stock Gets Price Target Cut from Citigroup

VICI Properties (NYSE:VICI) had its target price decreased by stock analysts at Citigroup from $36.00 to $30.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup‘s price target suggests a potential upside of 19.06% from the stock’s current price.

A number of other research analysts have also weighed in on VICI. Wells Fargo & Company reduced their price objective on VICI Properties from $26.00 to $24.00 and set an “equal weight” rating for the company in a research report on Monday, October 19th. JPMorgan Chase & Co. cut VICI Properties from an “overweight” rating to a “neutral” rating and set a $30.00 target price on the stock. in a research note on Thursday, September 24th. Evercore set a $30.00 price target on VICI Properties in a report on Monday, September 21st. Citizens Jmp lowered their price target on VICI Properties from $35.00 to $31.00 and set a “market outperform” rating for the company in a research report on Friday, October 2nd. Finally, Scotiabank dropped their price target on shares of VICI Properties from $29.00 to $26.00 and set a “sector perform” rating on the stock in a research note on Thursday, September 24th. Eight 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 company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.46.

VICI Properties Stock Down 0.2%

NYSE:VICI traded down $0.05 during mid-day trading on Thursday, hitting $25.20. 13,401,501 shares of the company’s stock were exchanged, compared to its average volume of 9,671,063. The company has a market cap of $27.74 billion, a PE ratio of 11.56, a P/E/G ratio of 1.95 and a beta of 0.64. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.35 and a quick ratio of 2.35. VICI Properties has a one year low of $22.42 and a one year high of $30.83. The business has a fifty day moving average price of $24.06 and a 200 day moving average price of $26.91.

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 net margin of 56.46% and a return on equity of 8.10%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the business posted $0.60 earnings per share. VICI Properties’s revenue for the quarter was up 5.8% on a year-over-year basis. Equities analysts predict that VICI Properties will post 2.47 EPS for the current year.

Institutional Trading of VICI Properties

Several institutional investors have recently added to or reduced their stakes in the business. Dynamic Wealth Strategies LLC bought a new position in shares of VICI Properties during the first quarter valued at $25,000. Sachetta LLC increased its holdings in VICI Properties by 213.1% in the 1st quarter. Sachetta LLC now owns 1,171 shares of the company’s stock worth $32,000 after buying an additional 797 shares in the last quarter. Silvant Capital Management LLC bought a new stake in VICI Properties in the 2nd quarter worth about $33,000. Atlatl Advisers LLC purchased a new position in VICI Properties in the 2nd quarter worth about $38,000. Finally, WealthCollab LLC raised its position in VICI Properties by 57.3% in the 1st quarter. WealthCollab LLC now owns 1,933 shares of the company’s stock worth $53,000 after buying an additional 704 shares during the last quarter. 97.71% of the stock is currently owned by hedge funds and other institutional investors.

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.