VICI Properties (NYSE:VICI) Lifted to “Buy” at Zacks Investment Research

VICI Properties (NYSE:VICI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday, Zacks.com reports. The firm presently has a $28.00 target price on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 13.77% from the stock’s previous close.

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. “

A number of other brokerages also recently weighed in on VICI. Deutsche Bank set a $28.00 target price on shares of VICI Properties and gave the company a “buy” rating in a research note on Monday, November 4th. Morgan Stanley raised VICI Properties from an “equal” rating to a “weight” rating and boosted their price target for the stock from $25.00 to $26.00 in a research report on Monday, August 26th. Nine research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus target price of $25.75.

VICI Properties stock traded up $0.14 on Tuesday, hitting $24.61. 15,424 shares of the stock traded hands, compared to its average volume of 4,760,330. VICI Properties has a 1 year low of $17.64 and a 1 year high of $24.94. The firm has a market cap of $11.40 billion, a P/E ratio of 17.13, a price-to-earnings-growth ratio of 1.87 and a beta of 0.84. The company has a current ratio of 83.01, a quick ratio of 83.01 and a debt-to-equity ratio of 0.51. The business’s fifty day simple moving average is $24.07 and its 200 day simple moving average is $22.58.

VICI Properties (NYSE:VICI) last released its earnings results on Thursday, October 31st. The company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.03). VICI Properties had a return on equity of 7.84% and a net margin of 66.78%. The business had revenue of $222.51 million during the quarter, compared to analysts’ expectations of $224.50 million. During the same period in the prior year, the company earned $0.36 earnings per share. The firm’s quarterly revenue was down 4.4% compared to the same quarter last year. As a group, analysts predict that VICI Properties will post 1.48 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of VICI. Cohen & Steers Inc. lifted its position in VICI Properties by 47.1% in the 2nd quarter. Cohen & Steers Inc. now owns 49,081,803 shares of the company’s stock valued at $1,081,763,000 after acquiring an additional 15,708,664 shares in the last quarter. Senator Investment Group LP bought a new position in shares of VICI Properties during the second quarter valued at $220,400,000. Point72 Asset Management L.P. purchased a new stake in shares of VICI Properties during the second quarter valued at $189,036,000. PGGM Investments boosted its position in shares of VICI Properties by 64.8% during the third quarter. PGGM Investments now owns 18,765,160 shares of the company’s stock valued at $425,031,000 after buying an additional 7,375,663 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in VICI Properties by 171.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 8,801,436 shares of the company’s stock worth $193,984,000 after buying an additional 5,555,668 shares in the last quarter.

About VICI Properties

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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