BlackRock Fund Advisors recently announced the acquisition of new stake in VICI Properties Inc (NYSE:VICI). The institutional investor has increased its shareholding in the Real Estate company by 0.61% to 65.98 million shares with purchase of 0.4 million shares. This fresh investment now brings its stake to 6.38% valued currently at $1.84 billion. In addition, Capital Research & Management Co raised its holdings by 54475.0 to 37.13 million shares. And Geode Capital Management LLC has lifted its position by 2.51% or 0.59 million shares – to 23.95 million shares.
With over 7.24 million VICI Properties Inc (VICI) shares trading Monday and a closing price of $28.60 on the day, the dollar volume was approximately $207.15 million. The shares have shown a negative half year performance of -9.52% and its price on 11/20/23 gained nearly 0.07%. Currently, there are 1.03B common shares owned by the public and among those 1.03B shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 21 analysts who have offered their price forecasts for VICI have a consensus price objective of $35.62. The analysts have set the share’s price value over the next 12 months at a high of $43.00 and a low of $30.00. The average price target is 19.71% above its recent price level and an upside to the estimated low will see the stock gain 4.67% over that period. But an upside of 33.49% will see the stock hit the forecast high price target while median target price for the stock is $36.00.
Insiders at the company have transacted a total of 50 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 40 of these insider trades were purchases, accounting for 632,352 shares. Insider sales of the common stock occurred on 10 occasions, with total insider shares sold totaling 120,659 shares.
The top 3 mutual fund holders in VICI Properties Inc are Capital Income Builder, Vanguard Real Estate Index Fund, and American Funds Income Fund of Ame. Capital Income Builder owns 44.83 million shares of the company’s stock, all valued at over $1.25 billion. Vanguard Real Estate Index Fund sold -0.3 million shares to see its total holdings shrink to 35.99 million shares valued at over $1.0 billion and representing 3.48% of the shares outstanding. American Funds Income Fund of Ame now owns shares totaling to 3.33% of the shares outstanding.
Shares of VICI Properties Inc (NYSE: VICI) opened at $28.55, down -$0.03 from a prior closing price of $28.58. However, the script later moved the day high at 28.76, up 0.07%. The company’s stock has a 5-day price change of 1.82% and -5.14% over the past three months. VICI shares are trading -11.73% year to date (YTD), with the 12-month market performance down to -10.12% lower. It has a 12-month low price of $26.62 and touched a high of $35.07 over the same period. VICI has an average intraday trading volume of 5.61 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.29%, -1.44%, and -8.60% respectively.
Institutional ownership of VICI Properties Inc (NYSE: VICI) shares accounts for 99.15% of the company’s 1.03B shares outstanding. Mutual fund holders own 42.72%, while other institutional holders and individual stakeholders account for 57.11% and 0.23% respectively.
It has a market capitalization of $29.59B and a beta (3y monthly) value of 0.97. The stock’s trailing 12-month PE ratio is 12.03, while the earnings-per-share (ttm) stands at $2.38. The company has a PEG of 1.91 and the debt-to-equity ratio at 0.73. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.95% over the week and 1.93% over the month.
Analysts forecast that VICI Properties Inc (VICI) will achieve an EPS of $0.65 for the current quarter, $0.67 for the next quarter and $2.63 for 2024. The lowest estimate earnings-per-share for the quarter is $0.62 while analysts give the company a high EPS estimate of $0.67. Comparatively, EPS for the current quarter was $0.63 a year ago. Earnings per share for the fiscal year are expected to increase by 93.07%, and 9.11% over the next financial year. EPS should shrink at an annualized rate of 6.30% over the next five years, compared to 54.98% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 21 brokerage firm advisors rate VICI Properties Inc (VICI) as a “Strong Buy” at a consensus score of 1.38. Specifically, 15 Wall Street analysts polled rate the stock as a buy, while 2 of the 21 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the VICI, a number of firms have released research notes about the stock. Wedbush stated their Neutral rating for the stock in a research note on October 03, 2023, with the firm’s price target at $31.
