VICI Properties (VICI) Downgraded by Zacks Investment Research
Zacks Investment Research downgraded shares of VICI Properties (NYSE:VICI) from a buy rating to a hold rating in a research note issued to investors on Tuesday.
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. “
Other equities research analysts have also issued research reports about the stock. Bank of America upgraded shares of VICI Properties from a neutral rating to a buy rating and set a $23.00 price objective for the company in a research note on Monday. Nomura initiated coverage on shares of VICI Properties in a research note on Wednesday, September 26th. They issued a buy rating and a $29.00 price objective for the company. Citigroup decreased their price objective on shares of VICI Properties from $22.00 to $21.00 and set a hold rating for the company in a research note on Thursday, August 9th. Morgan Stanley increased their price objective on shares of VICI Properties from $22.00 to $23.00 and gave the company a hold rating in a research note on Tuesday, July 24th. Finally, Wells Fargo & Co initiated coverage on shares of VICI Properties in a research note on Wednesday, July 11th. They issued a market perform rating and a $22.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $23.00.
VICI Properties (NYSE:VICI) last posted its quarterly earnings data on Thursday, August 2nd. The company reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.01. The firm had revenue of $221.00 million during the quarter, compared to analysts’ expectations of $214.19 million. Equities analysts anticipate that VICI Properties will post 1.5 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, October 11th. Stockholders of record on Friday, September 28th were given a dividend of $0.2875 per share. This is an increase from VICI Properties’s previous quarterly dividend of $0.26. This represents a $1.15 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date of this dividend was Thursday, September 27th.
Several institutional investors have recently added to or reduced their stakes in VICI. Tower Research Capital LLC TRC bought a new position in shares of VICI Properties during the 2nd quarter valued at approximately $120,000. First Hawaiian Bank bought a new position in shares of VICI Properties during the 3rd quarter valued at approximately $120,000. United Services Automobile Association bought a new position in shares of VICI Properties during the 2nd quarter valued at approximately $204,000. CIBC Asset Management Inc bought a new position in shares of VICI Properties during the 2nd quarter valued at approximately $272,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of VICI Properties during the 2nd quarter valued at approximately $283,000. 99.79% of the stock is owned by hedge funds and other institutional investors.
VICI Properties Company Profile
VICI Properties Inc, an asset real estate investment trust, owns, acquires, and develops gaming, hospitality, and entertainment destinations in the United States. It operates through two segments, Real Property Business and Golf Course Business. The company's property portfolio includes 20 gaming facilities comprising approximately 36 million square feet, as well as approximately 14,500 hotel rooms, 150 restaurants, bars, and nightclubs.
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