VICI Properties (NYSE:VICI) Posts Earnings Results, Misses Estimates By $0.41 EPS

VICI Properties (NYSE:VICI) released its quarterly earnings results on Wednesday. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.41), FiscalAI reports. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.06 billion. VICI Properties had a net margin of 67.50% and a return on equity of 9.66%.

VICI Properties Stock Down 0.8%

NYSE:VICI traded down $0.20 on Wednesday, reaching $23.50. 9,666,955 shares of the stock traded hands, compared to its average volume of 9,586,161. The company has a market capitalization of $25.88 billion, a price-to-earnings ratio of 9.11 and a beta of 0.65. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.57. VICI Properties has a 12 month low of $22.42 and a 12 month high of $30.83. The company’s fifty day simple moving average is $24.28 and its 200 day simple moving average is $27.01.

VICI Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Thursday, September 17th were given a dividend of $0.46 per share. This is a positive change from VICI Properties’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, September 17th. This represents a $1.84 annualized dividend and a yield of 7.8%. VICI Properties’s payout ratio is currently 71.32%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Robert W. Baird set a $32.00 price objective on VICI Properties in a report on Thursday, July 30th. Citizens Jmp dropped their target price on shares of VICI Properties from $35.00 to $31.00 and set a “market outperform” rating on the stock in a report on Friday, October 2nd. Cantor Fitzgerald dropped their target price on shares of VICI Properties from $34.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, August 10th. Citigroup reiterated a “market outperform” rating on shares of VICI Properties in a research note on Friday, October 2nd. Finally, Mizuho dropped their price objective on shares of VICI Properties from $30.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 2nd. Eight investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, VICI Properties presently has an average rating of “Moderate Buy” and a consensus target price of $29.81.

About VICI Properties

VICI Properties Inc (NYSE:VICI) is a real estate investment trust that owns and manages experiential properties, with a primary focus on gaming, hospitality and entertainment destinations. The company’s portfolio includes the real estate associated with well-known casinos, resorts, racetracks and golf facilities.

VICI generally leases its properties to gaming and entertainment operators through long-term, triple-net lease agreements. Its tenants operate the properties and are typically responsible for property-level expenses such as maintenance, insurance and taxes, while VICI focuses on owning, maintaining and expanding its real estate portfolio.

The company was established in 2017 as part of the restructuring of Caesars Entertainment Operating Company.