Cullen Capital Management LLC Reduces Position in VICI Properties Inc. $VICI

Cullen Capital Management LLC trimmed its holdings in VICI Properties Inc. (NYSE:VICI) by 0.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,426,523 shares of the company’s stock after selling 33,824 shares during the quarter. VICI Properties comprises approximately 2.4% of Cullen Capital Management LLC’s portfolio, making the stock its 14th largest holding. Cullen Capital Management LLC owned approximately 0.60% of VICI Properties worth $209,505,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. D.A. Davidson & CO. raised its holdings in shares of VICI Properties by 85.3% in the 2nd quarter. D.A. Davidson & CO. now owns 20,534 shares of the company’s stock valued at $669,000 after buying an additional 9,451 shares during the period. Arrowstreet Capital Limited Partnership grew its position in VICI Properties by 5.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,381,529 shares of the company’s stock valued at $77,638,000 after acquiring an additional 122,796 shares in the last quarter. Prudential PLC increased its stake in VICI Properties by 2,890.2% during the second quarter. Prudential PLC now owns 498,555 shares of the company’s stock worth $16,253,000 after purchasing an additional 481,882 shares during the period. Invesco Ltd. lifted its position in shares of VICI Properties by 7.0% during the second quarter. Invesco Ltd. now owns 14,436,449 shares of the company’s stock worth $470,628,000 after purchasing an additional 944,860 shares in the last quarter. Finally, State of Michigan Retirement System boosted its stake in shares of VICI Properties by 5.9% in the second quarter. State of Michigan Retirement System now owns 302,800 shares of the company’s stock valued at $9,871,000 after purchasing an additional 16,800 shares during the period. 97.71% of the stock is currently owned by hedge funds and other institutional investors.

VICI Properties Price Performance

Shares of NYSE VICI opened at $28.65 on Monday. The stock’s 50-day simple moving average is $29.89 and its 200-day simple moving average is $31.76. The firm has a market capitalization of $30.62 billion, a PE ratio of 10.94, a price-to-earnings-growth ratio of 2.85 and a beta of 0.70. VICI Properties Inc. has a fifty-two week low of $27.63 and a fifty-two week high of $34.03. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.60 and a current ratio of 3.60.

VICI Properties (NYSE:VICI) last announced its quarterly earnings results on Thursday, October 30th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.59 by $0.01. VICI Properties had a net margin of 70.18% and a return on equity of 10.17%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. During the same period in the prior year, the firm posted $0.57 earnings per share. The firm’s revenue was up 4.4% on a year-over-year basis. VICI Properties has set its FY 2025 guidance at 2.360-2.370 EPS. As a group, equities research analysts forecast that VICI Properties Inc. will post 2.31 EPS for the current fiscal year.

VICI Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Wednesday, December 17th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 6.3%. The ex-dividend date of this dividend is Wednesday, December 17th. VICI Properties’s dividend payout ratio is presently 68.70%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of VICI Properties from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 10th. Stifel Nicolaus cut their price objective on VICI Properties from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Wells Fargo & Company reiterated an “equal weight” rating and issued a $32.00 price objective (down from $36.00) on shares of VICI Properties in a research note on Tuesday, November 18th. The Goldman Sachs Group lowered their target price on VICI Properties from $38.00 to $34.00 and set a “buy” rating for the company in a research note on Friday, November 28th. Finally, Cantor Fitzgerald reduced their price target on VICI Properties from $37.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.71.

VICI Properties 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.