VICI Properties (NYSE:VICI) Hits New 52-Week High Following Dividend Announcement

VICI Properties Inc. (NYSE:VICI)’s stock price reached a new 52-week high during mid-day trading on Thursday after the company announced a dividend. The stock traded as high as $33.97 and last traded at $33.86, with a volume of 93462 shares traded. The stock had previously closed at $33.62.

The newly announced dividend which will be paid on Thursday, October 3rd. Investors of record on Wednesday, September 18th will be paid a dividend of $0.4325 per share. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $1.73 annualized dividend and a yield of 5.17%. This is a boost from VICI Properties’s previous quarterly dividend of $0.42. VICI Properties’s dividend payout ratio (DPR) is currently 65.61%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Evercore ISI raised their target price on VICI Properties from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, August 28th. Morgan Stanley reissued an “equal weight” rating and issued a $33.00 price target on shares of VICI Properties in a research note on Friday, June 21st. Mizuho lifted their price target on VICI Properties from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Finally, Scotiabank lifted their price target on VICI Properties from $32.00 to $34.00 and gave the stock a “sector outperform” rating in a research note on Thursday, May 16th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.44.

VICI Properties Trading Down 0.3 %

The firm has a market capitalization of $35.05 billion, a price-to-earnings ratio of 13.23, a price-to-earnings-growth ratio of 5.28 and a beta of 0.94. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.64. The company has a fifty day moving average price of $31.03 and a 200-day moving average price of $29.64.

Institutional Investors Weigh In On VICI Properties

Several institutional investors have recently made changes to their positions in VICI. Quarry LP lifted its holdings in shares of VICI Properties by 780.5% during the 2nd quarter. Quarry LP now owns 1,127 shares of the company’s stock valued at $32,000 after buying an additional 999 shares during the last quarter. Tucker Asset Management LLC lifted its holdings in shares of VICI Properties by 1,888.9% during the 4th quarter. Tucker Asset Management LLC now owns 1,074 shares of the company’s stock valued at $34,000 after buying an additional 1,020 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of VICI Properties by 254.4% during the 2nd quarter. UMB Bank n.a. now owns 1,368 shares of the company’s stock valued at $39,000 after buying an additional 982 shares during the last quarter. Carmichael Hill & Associates Inc. lifted its holdings in shares of VICI Properties by 363.2% during the 2nd quarter. Carmichael Hill & Associates Inc. now owns 1,408 shares of the company’s stock valued at $40,000 after buying an additional 1,104 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in VICI Properties in the 2nd quarter worth approximately $43,000. 97.71% of the stock is currently owned by institutional investors and hedge funds.

About VICI Properties

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.