Red Cedar Investment Management LLC Raises Stake in VICI Properties Inc. (NYSE:VICI)

Red Cedar Investment Management LLC increased its stake in shares of VICI Properties Inc. (NYSE:VICI) by 92.0% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 60,539 shares of the company’s stock after purchasing an additional 29,004 shares during the period. Red Cedar Investment Management LLC’s holdings in VICI Properties were worth $2,017,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of VICI Properties by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 153,674,848 shares of the company’s stock valued at $4,577,974,000 after acquiring an additional 6,755,553 shares in the last quarter. Capital International Investors raised its holdings in shares of VICI Properties by 7.5% in the 1st quarter. Capital International Investors now owns 67,600,000 shares of the company’s stock valued at $2,013,804,000 after acquiring an additional 4,728,903 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of VICI Properties by 8.7% in the 1st quarter. Capital Research Global Investors now owns 37,528,622 shares of the company’s stock valued at $1,117,978,000 after acquiring an additional 3,001,793 shares in the last quarter. Boston Partners raised its holdings in shares of VICI Properties by 35.8% in the 1st quarter. Boston Partners now owns 8,631,164 shares of the company’s stock valued at $257,094,000 after acquiring an additional 2,275,381 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in shares of VICI Properties by 101.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 3,453,547 shares of the company’s stock valued at $98,910,000 after acquiring an additional 1,739,147 shares in the last quarter. Hedge funds and other institutional investors own 97.71% of the company’s stock.

Analyst Upgrades and Downgrades

VICI has been the topic of several recent analyst reports. JMP Securities raised their price target on VICI Properties from $34.00 to $35.00 and gave the company a “market outperform” rating in a report on Friday. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $36.00 price target (up previously from $33.00) on shares of VICI Properties in a report on Tuesday, October 1st. Finally, Evercore ISI increased their price objective on VICI Properties from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, VICI Properties has a consensus rating of “Moderate Buy” and a consensus price target of $34.11.

VICI Properties Trading Up 1.3 %

VICI stock traded up $0.41 during midday trading on Monday, reaching $31.85. 638,804 shares of the company traded hands, compared to its average volume of 5,686,282. VICI Properties Inc. has a 52-week low of $27.08 and a 52-week high of $34.29. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.31. The business has a 50 day moving average of $32.98 and a 200-day moving average of $30.70. The firm has a market capitalization of $33.35 billion, a price-to-earnings ratio of 11.64, a P/E/G ratio of 4.99 and a beta of 0.94.

VICI Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Wednesday, September 18th were paid a dividend of $0.4325 per share. This is a boost from VICI Properties’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.73 dividend on an annualized basis and a dividend yield of 5.43%. VICI Properties’s dividend payout ratio is currently 64.07%.

VICI Properties Company 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.