VICI Properties (NYSE:VICI) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of VICI Properties (NYSE:VICI) from a hold rating to a sell rating in a report published on Friday, Zacks.com reports.

According to Zacks, “VICI Properties Inc. is a real estate investment trust. The Company is primarily engaged in the business of owning, acquiring and developing gaming, hospitality and entertainment destinations. Its operating segment consists of real property business and golf course business. Real property business segment consists of leased real property. Golf courses include the Cascata golf course in Boulder City, Nevada, the Rio Secco golf course in Henderson, Nevada, the Grand Bear golf course in Biloxi, Mississippi, and the Chariot Run golf course in Elizabeth, Indiana. “

VICI has been the topic of a number of other reports. Jefferies Financial Group began coverage on shares of VICI Properties in a research note on Wednesday, April 24th. They issued a buy rating and a $27.00 price target on the stock. Credit Suisse Group initiated coverage on shares of VICI Properties in a report on Wednesday, March 20th. They issued an outperform rating and a $24.00 price objective for the company. Wells Fargo & Co upgraded shares of VICI Properties from a market perform rating to an outperform rating and increased their price objective for the company from $23.00 to $24.50 in a report on Monday, July 1st. SunTrust Banks increased their price objective on shares of VICI Properties from $26.00 to $27.00 and gave the company a buy rating in a report on Monday, April 8th. Finally, Goldman Sachs Group upgraded shares of VICI Properties to a buy rating in a report on Tuesday, June 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $24.96.

VICI Properties stock traded down $0.42 during midday trading on Friday, reaching $22.32. The company had a trading volume of 3,867,546 shares, compared to its average volume of 6,286,429. The company has a market capitalization of $10.29 billion, a P/E ratio of 15.61, a P/E/G ratio of 1.67 and a beta of 0.87. VICI Properties has a 12-month low of $17.64 and a 12-month high of $23.27. The business has a fifty day moving average of $22.41. The company has a quick ratio of 87.48, a current ratio of 87.48 and a debt-to-equity ratio of 0.59.

VICI Properties (NYSE:VICI) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.37 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.37. The firm had revenue of $214.00 million for the quarter, compared to analyst estimates of $223.11 million. VICI Properties had a net margin of 62.92% and a return on equity of 8.54%. VICI Properties’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the company posted $0.33 EPS. On average, research analysts forecast that VICI Properties will post 1.48 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be issued a $0.287 dividend. The ex-dividend date is Thursday, June 27th. This represents a $1.15 dividend on an annualized basis and a yield of 5.14%. VICI Properties’s payout ratio is 80.42%.

Hedge funds have recently added to or reduced their stakes in the business. Pearl River Capital LLC increased its holdings in shares of VICI Properties by 226.1% during the 1st quarter. Pearl River Capital LLC now owns 1,800 shares of the company’s stock worth $40,000 after buying an additional 1,248 shares during the last quarter. Advisor Group Inc. increased its holdings in shares of VICI Properties by 26.4% during the 4th quarter. Advisor Group Inc. now owns 3,428 shares of the company’s stock worth $64,000 after buying an additional 716 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of VICI Properties by 4,337.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,304 shares of the company’s stock worth $81,000 after buying an additional 4,207 shares during the last quarter. American International Group Inc. increased its holdings in shares of VICI Properties by 47.9% during the 4th quarter. American International Group Inc. now owns 7,316 shares of the company’s stock worth $137,000 after buying an additional 2,368 shares during the last quarter. Finally, Omnia Family Wealth LLC acquired a new stake in shares of VICI Properties during the 4th quarter worth approximately $196,000.

VICI Properties Company Profile

VICI Properties is an experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality and entertainment destinations, including the world-renowned Caesars Palace. VICI Properties' national, geographically diverse portfolio consists of 22 gaming facilities comprising approximately 39 million square feet and features approximately 14,800 hotel rooms and approximately 150 restaurants, bars and nightclubs.

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