Westpac Banking Corp Grows Position in VICI Properties Inc. $VICI

Westpac Banking Corp raised its position in VICI Properties Inc. (NYSE:VICI) by 82.8% in the second quarter, Holdings Channel reports. The fund owned 301,787 shares of the company’s stock after buying an additional 136,700 shares during the period. VICI Properties makes up approximately 0.7% of Westpac Banking Corp’s portfolio, making the stock its 26th biggest holding. Westpac Banking Corp’s holdings in VICI Properties were worth $9,838,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Bell Investment Advisors Inc lifted its position in shares of VICI Properties by 32.7% during the 2nd quarter. Bell Investment Advisors Inc now owns 1,424 shares of the company’s stock worth $46,000 after purchasing an additional 351 shares during the last quarter. Kingsview Wealth Management LLC acquired a new stake in VICI Properties in the second quarter valued at $222,000. Ontario Teachers Pension Plan Board lifted its holdings in VICI Properties by 831.0% during the 2nd quarter. Ontario Teachers Pension Plan Board now owns 57,761 shares of the company’s stock worth $1,883,000 after buying an additional 51,557 shares during the last quarter. Westwood Holdings Group Inc. acquired a new position in shares of VICI Properties during the 2nd quarter worth about $5,159,000. Finally, Intech Investment Management LLC boosted its position in shares of VICI Properties by 2.7% during the 2nd quarter. Intech Investment Management LLC now owns 22,342 shares of the company’s stock worth $728,000 after acquiring an additional 583 shares in the last quarter. 97.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on VICI. JMP Securities set a $35.00 target price on VICI Properties in a research report on Tuesday, July 22nd. Stifel Nicolaus dropped their price target on shares of VICI Properties from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Barclays raised their price objective on shares of VICI Properties from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Evercore ISI lowered their target price on shares of VICI Properties from $38.00 to $36.00 and set an “outperform” rating for the company in a report on Friday, October 31st. Finally, Wells Fargo & Company increased their target price on shares of VICI Properties from $35.00 to $36.00 and gave the company an “overweight” rating in a research report on Wednesday, August 27th. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $35.69.

VICI Properties Price Performance

Shares of NYSE VICI opened at $30.37 on Friday. The stock has a market cap of $32.46 billion, a P/E ratio of 11.59, a P/E/G ratio of 3.02 and a beta of 0.72. VICI Properties Inc. has a twelve month low of $27.98 and a twelve month high of $34.03. The stock has a 50 day moving average of $31.47 and a two-hundred day moving average of $32.18. 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 announced its earnings results on Thursday, October 30th. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. VICI Properties had a net margin of 70.18% and a return on equity of 10.17%. The company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 EPS. VICI Properties has set its FY 2025 guidance at 2.360-2.370 EPS. On average, research analysts forecast that VICI Properties Inc. will post 2.31 earnings per share for the current year.

VICI Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 5.9%. This is a positive change from VICI Properties’s previous quarterly dividend of $0.43. The ex-dividend date was Thursday, September 18th. VICI Properties’s payout ratio is currently 68.70%.

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.