PNC Financial Services Group Inc. Boosts Stock Holdings in VICI Properties Inc. (NYSE:VICI)

PNC Financial Services Group Inc. grew its stake in shares of VICI Properties Inc. (NYSE:VICI) by 10.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 94,328 shares of the company’s stock after acquiring an additional 8,748 shares during the period. PNC Financial Services Group Inc.’s holdings in VICI Properties were worth $3,142,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in VICI. Handelsbanken Fonder AB increased its holdings in shares of VICI Properties by 8.8% in the third quarter. Handelsbanken Fonder AB now owns 593,852 shares of the company’s stock worth $19,781,000 after purchasing an additional 47,953 shares during the period. Gordian Capital Singapore Pte Ltd bought a new position in VICI Properties in the second quarter valued at $557,000. Los Angeles Capital Management LLC increased its stake in VICI Properties by 367.8% in the third quarter. Los Angeles Capital Management LLC now owns 2,219,378 shares of the company’s stock valued at $73,927,000 after acquiring an additional 1,744,939 shares during the last quarter. Cetera Investment Advisers increased its stake in VICI Properties by 359.6% in the first quarter. Cetera Investment Advisers now owns 93,455 shares of the company’s stock valued at $2,784,000 after acquiring an additional 73,123 shares during the last quarter. Finally, GSA Capital Partners LLP increased its stake in VICI Properties by 477.8% in the third quarter. GSA Capital Partners LLP now owns 68,082 shares of the company’s stock valued at $2,268,000 after acquiring an additional 56,299 shares during the last quarter. Hedge funds and other institutional investors own 97.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on VICI. Evercore ISI increased their target price on VICI Properties from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. Mizuho dropped their target price on shares of VICI Properties from $34.00 to $33.00 and set an “outperform” rating for the company in a report on Thursday, November 14th. Wells Fargo & Company reiterated an “overweight” rating and set a $36.00 target price (up from $33.00) on shares of VICI Properties in a report on Tuesday, October 1st. Finally, JMP Securities raised their price objective on shares of VICI Properties from $34.00 to $35.00 and gave the stock a “market outperform” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.22.

VICI Properties Stock Performance

Shares of VICI opened at $32.23 on Monday. The company has a 50-day simple moving average of $32.42 and a two-hundred day simple moving average of $31.02. VICI Properties Inc. has a one year low of $27.08 and a one year high of $34.29. The firm has a market capitalization of $33.98 billion, a PE ratio of 11.94, a price-to-earnings-growth ratio of 4.27 and a beta of 0.94. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.61 and a quick ratio of 2.61.

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 issued a dividend of $0.4325 per share. This represents a $1.73 annualized dividend and a dividend yield of 5.37%. This is a positive change from VICI Properties’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Wednesday, September 18th. VICI Properties’s dividend payout ratio (DPR) is presently 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.