VICI Properties (NYSE:VICI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.
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 research firms have also recently weighed in on VICI. Robert W. Baird began coverage on shares of VICI Properties in a research note on Wednesday, October 24th. They set an “outperform” rating and a $26.00 target price on the stock. Wells Fargo & Co began coverage on shares of VICI Properties in a research note on Wednesday, July 11th. They set a “market perform” rating and a $22.00 target price on the stock. Nomura began coverage on shares of VICI Properties in a research note on Wednesday, September 26th. They set a “buy” rating and a $29.00 target price on the stock. Bank of America upgraded shares of VICI Properties from a “neutral” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Monday, October 15th. Finally, Morgan Stanley lifted their target price on shares of VICI Properties from $22.00 to $23.00 and gave the company a “hold” rating in a research note on Tuesday, July 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. VICI Properties presently has an average rating of “Hold” and an average target price of $23.23.
VICI opened at $21.75 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 65.13 and a quick ratio of 65.13. VICI Properties has a fifty-two week low of $17.58 and a fifty-two week high of $22.99.
VICI Properties (NYSE:VICI) last released its earnings results on Thursday, November 1st. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.04). The company had revenue of $233.00 million for the quarter, compared to the consensus estimate of $225.38 million. On average, research analysts forecast that VICI Properties will post 1.45 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of VICI. Teachers Insurance & Annuity Association of America bought a new position in VICI Properties during the 2nd quarter valued at about $7,269,000. Legal & General Group Plc grew its holdings in VICI Properties by 18.0% during the 2nd quarter. Legal & General Group Plc now owns 763,354 shares of the company’s stock valued at $15,756,000 after purchasing an additional 116,649 shares during the last quarter. BlackRock Inc. grew its holdings in VICI Properties by 37.9% during the 2nd quarter. BlackRock Inc. now owns 13,449,058 shares of the company’s stock valued at $277,589,000 after purchasing an additional 3,699,212 shares during the last quarter. United Services Automobile Association bought a new position in VICI Properties during the 2nd quarter valued at about $204,000. Finally, First Quadrant L P CA bought a new position in VICI Properties during the 2nd quarter valued at about $6,940,000.
About VICI Properties
VICI Properties Inc, an asset real estate investment trust, owns, acquires, and develops gaming, hospitality, and entertainment destinations in the United States. It operates through two segments, Real Property Business and Golf Course Business. The company's property portfolio includes 20 gaming facilities comprising approximately 36 million square feet, as well as approximately 14,500 hotel rooms, 150 restaurants, bars, and nightclubs.
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