Red Cedar Investment Management LLC Grows Stake in VICI Properties Inc. (NYSE:VICI)

Red Cedar Investment Management LLC boosted its holdings in shares of VICI Properties Inc. (NYSE:VICI - Free Report) by 92.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,539 shares of the company's stock after acquiring an additional 29,004 shares during the quarter. Red Cedar Investment Management LLC's holdings in VICI Properties were worth $2,017,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Quarry LP lifted its position in shares of VICI Properties by 780.5% in the 2nd quarter. Quarry LP now owns 1,127 shares of the company's stock worth $32,000 after purchasing an additional 999 shares during the period. UMB Bank n.a. raised its position in shares of VICI Properties by 254.4% in the 2nd quarter. UMB Bank n.a. now owns 1,368 shares of the company's stock worth $39,000 after acquiring an additional 982 shares in the last quarter. Carmichael Hill & Associates Inc. lifted its stake in shares of 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 purchasing an additional 1,104 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of VICI Properties during the 2nd quarter valued at about $43,000. Finally, Rothschild Investment LLC acquired a new stake in VICI Properties during the second quarter worth approximately $47,000. Institutional investors and hedge funds own 97.71% of the company's stock.

Wall Street Analyst Weigh In

VICI has been the topic of a number of research analyst reports. Wells Fargo & Company restated an "overweight" rating and set a $36.00 price target (up from $33.00) on shares of VICI Properties in a report on Tuesday, October 1st. JMP Securities increased their target price on shares of VICI Properties from $34.00 to $35.00 and gave the stock a "market outperform" rating in a research note on Friday. Finally, Evercore ISI upped their price objective on shares of VICI Properties from $36.00 to $37.00 and gave the company an "outperform" rating in a report on Monday, September 16th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $34.11.

VICI Properties Stock Up 0.8 %

Shares of NYSE VICI traded up $0.25 during trading on Monday, hitting $31.69. The stock had a trading volume of 4,434,805 shares, compared to its average volume of 5,704,165. The firm has a fifty day moving average of $32.98 and a two-hundred day moving average of $30.70. The company has a market capitalization of $33.18 billion, a PE ratio of 11.64, a PEG ratio of 4.99 and a beta of 0.94. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.31 and a quick ratio of 2.31. VICI Properties Inc. has a 12 month low of $27.08 and a 12 month high of $34.29.

VICI Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Wednesday, September 18th were given a $0.4325 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.73 annualized dividend and a yield of 5.46%. This is a boost from VICI Properties's previous quarterly dividend of $0.42. VICI Properties's payout ratio is currently 64.07%.

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.