JPMorgan Chase & Co. Buys 1,598,238 Shares of VICI Properties Inc. $VICI

JPMorgan Chase & Co. grew its stake in shares of VICI Properties Inc. (NYSE:VICI) by 7.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 23,409,381 shares of the company’s stock after buying an additional 1,598,238 shares during the period. JPMorgan Chase & Co.’s holdings in VICI Properties were worth $763,380,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State of Wyoming purchased a new stake in VICI Properties during the second quarter valued at about $26,000. Parvin Asset Management LLC purchased a new position in shares of VICI Properties during the 2nd quarter valued at about $27,000. Hantz Financial Services Inc. lifted its position in VICI Properties by 489.2% in the 2nd quarter. Hantz Financial Services Inc. now owns 872 shares of the company’s stock worth $28,000 after buying an additional 724 shares during the last quarter. Headlands Technologies LLC purchased a new stake in VICI Properties in the second quarter worth approximately $28,000. Finally, Godsey & Gibb Inc. bought a new position in VICI Properties during the third quarter valued at approximately $29,000. 97.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on VICI. Cantor Fitzgerald set a $33.00 price target on shares of VICI Properties in a research report on Monday, January 5th. Mizuho dropped their price target on shares of VICI Properties from $35.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, December 17th. Scotiabank lowered shares of VICI Properties from a “sector outperform” rating to a “sector perform” rating and cut their price target for the stock from $36.00 to $30.00 in a report on Friday, January 30th. Barclays lowered their price objective on shares of VICI Properties from $37.00 to $33.00 and set an “overweight” rating for the company in a research note on Wednesday, December 3rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of VICI Properties in a research note on Monday, December 29th. Nine investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $33.85.

VICI Properties Trading Up 1.9%

VICI opened at $29.85 on Wednesday. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.60. VICI Properties Inc. has a 52 week low of $27.48 and a 52 week high of $34.03. The stock has a market cap of $31.90 billion, a PE ratio of 11.39, a PEG ratio of 2.91 and a beta of 0.70. The business has a 50 day moving average of $28.36 and a 200-day moving average of $30.35.

VICI Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Wednesday, December 17th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date was Wednesday, December 17th. VICI Properties’s dividend payout ratio is 68.70%.

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.