VICI Properties (NYSE:VICI) Downgraded to Sector Perform Rating by Scotiabank

Scotiabank downgraded shares of VICI Properties (NYSE:VICI) from a sector outperform rating to a sector perform rating in a report released on Friday morning, Marketbeat.com reports. The brokerage currently has $30.00 price objective on the stock.

Other equities research analysts also recently issued research reports about the stock. Evercore ISI reaffirmed an “in-line” rating and set a $32.00 price target (down previously from $36.00) on shares of VICI Properties in a research note on Monday, December 1st. Cantor Fitzgerald set a $33.00 target price on shares of VICI Properties in a report on Monday, January 5th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $32.00 price target (down previously from $36.00) on shares of VICI Properties in a report on Tuesday, November 18th. Weiss Ratings reissued a “hold (c)” rating on shares of VICI Properties in a research note on Monday, December 29th. Finally, The Goldman Sachs Group decreased their price objective on VICI Properties from $38.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, November 28th. Nine analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, VICI Properties presently has a consensus rating of “Moderate Buy” and an average target price of $33.85.

VICI Properties Price Performance

NYSE:VICI opened at $28.07 on Friday. The business’s 50-day moving average is $28.22 and its 200 day moving average is $30.72. VICI Properties has a 12 month low of $27.48 and a 12 month high of $34.03. The company has a market capitalization of $30.00 billion, a P/E ratio of 10.71, a P/E/G ratio of 2.80 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 (NYSE:VICI) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.01. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. VICI Properties had a return on equity of 10.17% and a net margin of 70.18%.The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.57 EPS. On average, equities research analysts forecast that VICI Properties will post 2.31 earnings per share for the current fiscal year.

VICI Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Wednesday, December 17th were issued a dividend of $0.45 per share. The ex-dividend date was Wednesday, December 17th. This represents a $1.80 dividend on an annualized basis and a yield of 6.4%. VICI Properties’s payout ratio is presently 68.70%.

Institutional Trading of VICI Properties

Institutional investors and hedge funds have recently made changes to their positions in the business. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its position in shares of VICI Properties by 2.4% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 3,466,757 shares of the company’s stock valued at $113,051,000 after buying an additional 81,300 shares during the last quarter. D.A. Davidson & CO. raised its stake in shares of VICI Properties by 85.3% during the 2nd quarter. D.A. Davidson & CO. now owns 20,534 shares of the company’s stock worth $669,000 after acquiring an additional 9,451 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in VICI Properties by 5.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,381,529 shares of the company’s stock valued at $77,638,000 after acquiring an additional 122,796 shares during the last quarter. Swedbank AB boosted its stake in VICI Properties by 4.0% in the third quarter. Swedbank AB now owns 4,874,730 shares of the company’s stock valued at $158,965,000 after acquiring an additional 188,690 shares in the last quarter. Finally, Valeo Financial Advisors LLC purchased a new position in VICI Properties in the second quarter worth $4,972,000. 97.71% of the stock is currently owned by institutional investors.

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.