Citigroup Has Lowered Expectations for VICI Properties (NYSE:VICI) Stock Price

VICI Properties (NYSE:VICI) had its target price reduced by research analysts at Citigroup from $36.00 to $30.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup‘s price target would suggest a potential upside of 20.98% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Wells Fargo & Company reduced their price objective on VICI Properties from $26.00 to $24.00 and set an “equal weight” rating on the stock in a report on Monday, October 19th. Cantor Fitzgerald lowered their target price on VICI Properties from $32.00 to $29.00 and set an “overweight” rating for the company in a report on Wednesday. Truist Financial dropped their price target on VICI Properties from $38.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday, October 20th. Scotiabank cut their price target on VICI Properties from $29.00 to $26.00 and set a “sector perform” rating on the stock in a research note on Thursday, September 24th. Finally, Citizens Jmp decreased their price objective on VICI Properties from $35.00 to $31.00 and set a “market outperform” rating for the company in a report on Friday, October 2nd. Eight investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.46.

VICI Properties Trading Down 1.6%

VICI Properties stock traded down $0.41 during trading hours on Thursday, hitting $24.80. The company had a trading volume of 8,542,651 shares, compared to its average volume of 10,083,752. The firm has a market cap of $27.30 billion, a P/E ratio of 11.38 and a beta of 0.64. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.35 and a current ratio of 2.35. VICI Properties has a 1 year low of $22.42 and a 1 year high of $30.83. The company has a 50-day moving average price of $24.02 and a two-hundred day moving average price of $26.87.

VICI Properties (NYSE:VICI) last issued its earnings results on Wednesday, October 28th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.41). VICI Properties had a return on equity of 8.10% and a net margin of 56.46%. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period last year, the business posted $0.60 earnings per share. The business’s revenue was up 5.8% compared to the same quarter last year. On average, sell-side analysts anticipate that VICI Properties will post 2.47 earnings per share for the current year.

Hedge Funds Weigh In On VICI Properties

Several hedge funds have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in VICI Properties by 3.4% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,699,040 shares of the company’s stock worth $284,060,000 after acquiring an additional 349,262 shares during the last quarter. Amundi lifted its position in VICI Properties by 21.1% during the 2nd quarter. Amundi now owns 7,728,135 shares of the company’s stock worth $205,182,000 after acquiring an additional 1,344,994 shares during the period. Rakuten Investment Management Inc. purchased a new stake in VICI Properties during the 2nd quarter valued at about $4,858,000. The Manufacturers Life Insurance Company grew its stake in VICI Properties by 19.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,097,823 shares of the company’s stock valued at $29,147,000 after purchasing an additional 177,238 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in VICI Properties by 2.7% during the 1st quarter. Bank of America Corp DE now owns 27,948,502 shares of the company’s stock valued at $763,553,000 after purchasing an additional 734,068 shares during the last quarter. Institutional investors and hedge funds own 97.71% of the company’s stock.

VICI Properties News Summary

Here are the key news stories impacting VICI Properties this week:

• Positive Sentiment: A Motley Fool article points to VICI’s long-term leases, full occupancy and an estimated 7.3% forward dividend yield as reasons investors may find the REIT attractive. Article: If I Could Put $10,000 Into Just 1 Dividend Grower in November
• Positive Sentiment: Coverage of a $2 billion buyback raises the prospect of another source of shareholder returns, though the headline frames it as an investment opportunity rather than providing details on timing or execution. Article: VICI’s $2 billion buyback: A massive buying opportunity?
• Neutral Sentiment: Citigroup and Cantor Fitzgerald maintained Buy ratings, signaling continued optimism, but both lowered their price targets. Article: Citi Sticks to Its Buy Rating for VICI Properties Article: Cantor Fitzgerald Sticks to Its Buy Rating for VICI Properties
• Negative Sentiment: Citigroup cut its target to $30 from $36, while keeping its Buy rating; Cantor Fitzgerald also reduced its target. The lower expectations may weigh on sentiment, although Citi’s new target still implies potential upside from the cited $24.80 share price. Article: VICI Properties Stock Price Target Lowered at Citigroup Article: VICI Properties Stock Price Target Cut by Cantor Fitzgerald

About VICI Properties

VICI Properties Inc is a real estate investment trust that owns experiential properties, with a portfolio focused primarily on casinos and other gaming-related destinations. Its properties include gaming facilities, hotels, restaurants and entertainment venues.

The company leases its properties to operators under long-term agreements, generally structured as triple-net leases, in which tenants are responsible for expenses such as property taxes, insurance and maintenance. VICI also owns golf courses and other leisure-related properties.

VICI was established in 2017 as part of Caesars Entertainment’s restructuring and became an independent, publicly traded company in 2018.