VICI Properties (NYSE:VICI) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of VICI Properties (NYSE:VICI) from a hold rating to a buy rating in a report published on Thursday morning, Zacks.com reports. They currently have $27.00 price objective on the stock.

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 subject of several other research reports. Morgan Stanley raised VICI Properties from an equal rating to a weight rating and boosted their price objective for the company from $25.00 to $26.00 in a report on Monday, August 26th. Citigroup boosted their price objective on VICI Properties from $21.00 to $26.00 and gave the company a neutral rating in a report on Wednesday, October 30th. Finally, Deutsche Bank set a $28.00 price objective on VICI Properties and gave the company a buy rating in a report on Monday, November 4th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $25.68.

VICI Properties stock traded up $0.29 during trading hours on Thursday, hitting $24.28. 3,752,133 shares of the stock traded hands, compared to its average volume of 3,953,228. The company has a debt-to-equity ratio of 0.51, a current ratio of 83.01 and a quick ratio of 83.01. The firm’s 50 day moving average price is $23.28 and its 200-day moving average price is $22.35. The stock has a market capitalization of $11.06 billion, a price-to-earnings ratio of 16.98, a P/E/G ratio of 1.82 and a beta of 0.84. VICI Properties has a 1 year low of $17.64 and a 1 year high of $24.73.

VICI Properties (NYSE:VICI) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.03). The firm had revenue of $222.51 million for the quarter, compared to analysts’ expectations of $224.50 million. VICI Properties had a net margin of 66.78% and a return on equity of 7.84%. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.36 EPS. Research analysts forecast that VICI Properties will post 1.48 earnings per share for the current fiscal year.

In related news, CEO Edward Baltazar Pitoniak acquired 15,200 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was acquired at an average price of $21.29 per share, with a total value of $323,608.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.15% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlueMountain Capital Management LLC acquired a new position in VICI Properties in the 2nd quarter worth about $6,612,000. Cooperman Leon G acquired a new position in VICI Properties in the 2nd quarter worth about $8,816,000. Deroy & Devereaux Private Investment Counsel Inc. raised its holdings in VICI Properties by 49.2% in the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 115,300 shares of the company’s stock worth $2,612,000 after purchasing an additional 38,000 shares during the period. Barings LLC raised its holdings in VICI Properties by 18.8% in the 2nd quarter. Barings LLC now owns 2,036,365 shares of the company’s stock worth $44,881,000 after purchasing an additional 321,745 shares during the period. Finally, US Bancorp DE raised its holdings in shares of VICI Properties by 71.1% during the second quarter. US Bancorp DE now owns 38,237 shares of the company’s stock valued at $842,000 after acquiring an additional 15,887 shares during the last quarter.

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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