Sound Income Strategies LLC Grows Stock Holdings in VICI Properties Inc. $VICI

Sound Income Strategies LLC boosted its stake in shares of VICI Properties Inc. (NYSE:VICI) by 5.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 726,738 shares of the company’s stock after purchasing an additional 38,567 shares during the quarter. Sound Income Strategies LLC’s holdings in VICI Properties were worth $19,295,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in VICI. Bank of America Corp DE boosted its holdings in shares of VICI Properties by 2.7% in the 1st quarter. Bank of America Corp DE now owns 27,948,502 shares of the company’s stock valued at $763,553,000 after buying an additional 734,068 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC raised its stake in VICI Properties by 24.9% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 7,063,264 shares of the company’s stock worth $198,619,000 after acquiring an additional 1,406,897 shares during the last quarter. Wilsey Asset Management Inc. lifted its position in VICI Properties by 6.4% during the 1st quarter. Wilsey Asset Management Inc. now owns 1,101,451 shares of the company’s stock worth $30,092,000 after acquiring an additional 65,853 shares during the period. Gabelli Funds LLC lifted its position in VICI Properties by 19.4% during the 1st quarter. Gabelli Funds LLC now owns 262,124 shares of the company’s stock worth $7,161,000 after acquiring an additional 42,662 shares during the period. Finally, Border to Coast Pensions Partnership Ltd lifted its position in VICI Properties by 26.1% during the 4th quarter. Border to Coast Pensions Partnership Ltd now owns 725,000 shares of the company’s stock worth $20,424,000 after acquiring an additional 150,000 shares during the period. 97.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on VICI. Cantor Fitzgerald cut their price objective on VICI Properties from $34.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday. Scotiabank decreased their target price on VICI Properties from $32.00 to $29.00 and set a “sector perform” rating for the company in a report on Thursday, June 18th. Wells Fargo & Company dropped their target price on VICI Properties from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 15th. Robert W. Baird set a $32.00 price target on shares of VICI Properties in a report on Thursday, July 30th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of VICI Properties in a research report on Wednesday, June 24th. Six analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $31.46.

VICI Properties Stock Up 0.5%

Shares of VICI opened at $26.10 on Thursday. VICI Properties Inc. has a 52 week low of $25.82 and a 52 week high of $33.92. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $28.74 billion, a price-to-earnings ratio of 10.12 and a beta of 0.65. The stock’s 50-day moving average price is $26.82 and its 200-day moving average price is $27.94.

VICI Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, June 18th. This represents a $1.80 dividend on an annualized basis and a yield of 6.9%. VICI Properties’s payout ratio is presently 69.77%.

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.