Convergence Investment Partners LLC Has $1.70 Million Stock Position in VICI Properties Inc. $VICI

Convergence Investment Partners LLC boosted its holdings in VICI Properties Inc. (NYSE:VICI) by 1.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,040 shares of the company’s stock after buying an additional 541 shares during the quarter. Convergence Investment Partners LLC’s holdings in VICI Properties were worth $1,697,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Chesley Taft & Associates LLC boosted its stake in VICI Properties by 3.6% in the second quarter. Chesley Taft & Associates LLC now owns 9,321 shares of the company’s stock valued at $304,000 after buying an additional 324 shares in the last quarter. Wright Investors Service Inc. raised its position in VICI Properties by 0.4% in the second quarter. Wright Investors Service Inc. now owns 74,517 shares of the company’s stock valued at $2,429,000 after purchasing an additional 330 shares during the last quarter. Provident Investment Management Inc. raised its position in VICI Properties by 1.5% in the first quarter. Provident Investment Management Inc. now owns 23,785 shares of the company’s stock valued at $776,000 after purchasing an additional 350 shares during the last quarter. Cullen Frost Bankers Inc. raised its position in VICI Properties by 8.5% in the first quarter. Cullen Frost Bankers Inc. now owns 4,593 shares of the company’s stock valued at $150,000 after purchasing an additional 359 shares during the last quarter. Finally, Leo Wealth LLC raised its position in VICI Properties by 5.7% in the second quarter. Leo Wealth LLC now owns 7,271 shares of the company’s stock valued at $237,000 after purchasing an additional 391 shares during the last quarter. 97.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. JPMorgan Chase & Co. increased their target price on VICI Properties from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, September 10th. JMP Securities set a $35.00 target price on VICI Properties in a research report on Tuesday, July 22nd. Wells Fargo & Company raised their price objective on VICI Properties from $35.00 to $36.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 27th. Barclays raised their price objective on VICI Properties from $36.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Finally, Cantor Fitzgerald assumed coverage on VICI Properties in a research report on Wednesday, October 1st. They set an “overweight” rating and a $37.00 price objective for the company. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $36.08.

VICI Properties Trading Down 0.6%

Shares of VICI stock opened at $31.24 on Monday. The company has a market cap of $33.31 billion, a P/E ratio of 11.97, a PEG ratio of 3.11 and a beta of 0.72. The stock has a 50 day simple moving average of $32.40 and a two-hundred day simple moving average of $32.36. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.74 and a current ratio of 1.74. VICI Properties Inc. has a fifty-two week low of $27.98 and a fifty-two week high of $34.03.

VICI Properties (NYSE:VICI) last issued its earnings results on Wednesday, July 30th. The company reported $0.60 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.60. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $991.59 million. VICI Properties had a return on equity of 10.21% and a net margin of 70.20%.The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 earnings per share. VICI Properties has set its FY 2025 guidance at 2.350-2.370 EPS. Research analysts forecast that VICI Properties Inc. will post 2.31 earnings per share for the current year.

VICI Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 5.8%. This is a boost from VICI Properties’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Thursday, September 18th. VICI Properties’s payout ratio is 68.97%.

VICI Properties 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.