Synovus Financial Corp Buys 7,742 Shares of VICI Properties Inc. (NYSE:VICI)

Synovus Financial Corp raised its stake in VICI Properties Inc. (NYSE:VICI) by 53.6% in the third quarter, Holdings Channel reports. The fund owned 22,198 shares of the company’s stock after purchasing an additional 7,742 shares during the quarter. Synovus Financial Corp’s holdings in VICI Properties were worth $739,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Quarry LP lifted its holdings in shares of VICI Properties by 780.5% in the second quarter. Quarry LP now owns 1,127 shares of the company’s stock worth $32,000 after acquiring an additional 999 shares during the last quarter. UMB Bank n.a. raised its holdings in VICI Properties by 254.4% in the 2nd quarter. UMB Bank n.a. now owns 1,368 shares of the company’s stock valued at $39,000 after buying an additional 982 shares during the last quarter. Carmichael Hill & Associates Inc. raised its holdings in VICI Properties by 363.2% in the 2nd quarter. Carmichael Hill & Associates Inc. now owns 1,408 shares of the company’s stock valued at $40,000 after buying an additional 1,104 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in VICI Properties in the 2nd quarter valued at approximately $43,000. Finally, Rothschild Investment LLC bought a new position in VICI Properties in the 2nd quarter valued at approximately $47,000. Institutional investors own 97.71% of the company’s stock.

Wall Street Analyst Weigh In

VICI has been the subject of a number of research reports. KeyCorp reiterated a “sector weight” rating on shares of VICI Properties in a report on Tuesday. Mizuho lowered their price target 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 restated an “overweight” rating and set a $36.00 price target (up previously from $33.00) on shares of VICI Properties in a report on Tuesday, October 1st. JMP Securities restated a “market outperform” rating and set a $35.00 price target on shares of VICI Properties in a report on Wednesday, December 11th. Finally, Evercore ISI raised their price target on shares of VICI Properties from $36.00 to $37.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, VICI Properties presently has a consensus rating of “Moderate Buy” and an average target price of $34.67.

VICI Properties Stock Performance

Shares of VICI stock opened at $30.05 on Wednesday. The company has a market cap of $31.68 billion, a price-to-earnings ratio of 11.13, a price-to-earnings-growth ratio of 4.12 and a beta of 0.93. VICI Properties Inc. has a 52 week low of $27.08 and a 52 week high of $34.29. The company has a quick ratio of 2.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.63. The firm has a 50 day moving average of $32.03 and a 200-day moving average of $31.31.

VICI Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Tuesday, December 17th will be given a dividend of $0.4325 per share. This represents a $1.73 annualized dividend and a dividend yield of 5.76%. The ex-dividend date of this dividend is Tuesday, December 17th. VICI Properties’s dividend payout ratio (DPR) is 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.