VICI Properties (NYSE:VICI) Hits New 52-Week High After Analyst Upgrade

VICI Properties Inc. (NYSE:VICI) shares hit a new 52-week high during trading on Monday after Evercore ISI raised their price target on the stock from $36.00 to $37.00. Evercore ISI currently has an outperform rating on the stock. VICI Properties traded as high as $34.29 and last traded at $34.06, with a volume of 452020 shares changing hands. The stock had previously closed at $33.96.

Separately, Morgan Stanley reaffirmed an “equal weight” rating and set a $33.00 price target on shares of VICI Properties in a research note on Friday, June 21st. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $33.56.

Institutional Trading of VICI Properties

Hedge funds have recently bought and sold shares of the business. Montag A & Associates Inc. raised its position in VICI Properties by 3.3% in the 2nd quarter. Montag A & Associates Inc. now owns 12,297 shares of the company’s stock valued at $357,000 after buying an additional 389 shares during the last quarter. Bard Associates Inc. lifted its position in shares of VICI Properties by 0.5% during the 4th quarter. Bard Associates Inc. now owns 79,612 shares of the company’s stock valued at $2,570,000 after buying an additional 395 shares during the last quarter. MAS Advisors LLC boosted its position in VICI Properties by 2.8% during the second quarter. MAS Advisors LLC now owns 14,745 shares of the company’s stock worth $422,000 after purchasing an additional 398 shares during the period. Courier Capital LLC increased its holdings in VICI Properties by 2.0% during the 1st quarter. Courier Capital LLC now owns 21,045 shares of the company’s stock worth $627,000 after acquiring an additional 417 shares during the period. Finally, Oppenheimer & Co. Inc. grew its position in VICI Properties by 0.9% during the fourth quarter. Oppenheimer & Co. Inc. now owns 52,494 shares of the company’s stock worth $1,674,000 after buying an additional 448 shares in the last quarter. Institutional investors and hedge funds own 97.71% of the company’s stock.

VICI Properties Stock Performance

The company’s 50-day moving average is $31.89 and its two-hundred day moving average is $29.85. The company has a market capitalization of $35.17 billion, a P/E ratio of 13.32, a PEG ratio of 5.28 and a beta of 0.94. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.64.

VICI Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Wednesday, September 18th will be issued a dividend of $0.4325 per share. This represents a $1.73 dividend on an annualized basis and a dividend yield of 5.13%. This is a boost from VICI Properties’s previous quarterly dividend of $0.42. The ex-dividend date is Wednesday, September 18th. VICI Properties’s dividend payout ratio (DPR) is currently 68.38%.

VICI Properties Company Profile

VICI Properties Inc is an S&P 500 experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality and entertainment destinations, including Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las Vegas, three of the most iconic entertainment facilities on the Las Vegas Strip.