Truist Financial Corp Has $5.09 Million Stake in VICI Properties Inc. $VICI

Truist Financial Corp lifted its stake in VICI Properties Inc. (NYSE:VICI) by 25.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 156,086 shares of the company’s stock after purchasing an additional 32,026 shares during the period. Truist Financial Corp’s holdings in VICI Properties were worth $5,090,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of VICI. NewEdge Advisors LLC raised its position in shares of VICI Properties by 204.4% during the first quarter. NewEdge Advisors LLC now owns 37,580 shares of the company’s stock worth $1,226,000 after acquiring an additional 25,234 shares during the last quarter. Woodline Partners LP raised its holdings in VICI Properties by 41.3% during the 1st quarter. Woodline Partners LP now owns 89,062 shares of the company’s stock worth $2,905,000 after purchasing an additional 26,017 shares during the last quarter. DAVENPORT & Co LLC lifted its position in VICI Properties by 6.0% during the 2nd quarter. DAVENPORT & Co LLC now owns 11,290 shares of the company’s stock valued at $368,000 after purchasing an additional 644 shares during the period. Valeo Financial Advisors LLC acquired a new position in VICI Properties during the 2nd quarter valued at about $4,972,000. Finally, TriaGen Wealth Management LLC bought a new position in shares of VICI Properties in the 2nd quarter valued at about $232,000. Institutional investors and hedge funds own 97.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on VICI. Mizuho cut their price objective on shares of VICI Properties from $35.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, December 17th. Stifel Nicolaus reduced their target price on VICI Properties from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Cantor Fitzgerald set a $33.00 price target on VICI Properties in a research report on Monday, January 5th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $32.00 price target (down previously from $36.00) on shares of VICI Properties in a research note on Tuesday, November 18th. Finally, The Goldman Sachs Group dropped their target price on shares of VICI Properties from $38.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, November 28th. Nine analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, VICI Properties presently has a consensus rating of “Moderate Buy” and an average price target of $33.85.

VICI Properties Stock Performance

Shares of VICI stock opened at $28.04 on Wednesday. The company has a market capitalization of $29.96 billion, a P/E ratio of 10.70, a PEG ratio of 2.78 and a beta of 0.70. VICI Properties Inc. has a fifty-two week low of $27.48 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. The stock has a 50 day moving average price of $28.19 and a two-hundred day moving average price of $30.62.

VICI Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Wednesday, December 17th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Wednesday, December 17th. This represents a $1.80 dividend on an annualized basis and a yield of 6.4%. VICI Properties’s dividend payout ratio is presently 68.70%.

VICI Properties Profile

VICI Properties (NYSE: VICI) is a publicly traded real estate investment trust (REIT) that specializes in experiential real estate, with a primary focus on gaming, hospitality and entertainment assets. The company acquires, owns and manages a portfolio of destination properties and leases those assets to operators under long-term agreements, generating rental income and partnering on property development and capital projects. VICI was formed in connection with the restructuring of Caesars Entertainment and has since grown through acquisitions and strategic transactions to expand its footprint in the gaming and leisure sector.

The company’s portfolio is concentrated in major U.S.