VICI Properties (NYSE:VICI) Updates FY24 Earnings Guidance

VICI Properties (NYSE:VICI) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.25-$2.26 for the period, compared to the consensus estimate of $2.26. VICI Properties also updated its FY 2024 guidance to 2.250-2.260 EPS.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Wells Fargo & Company reaffirmed 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. Evercore ISI boosted their price target 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. Finally, JMP Securities lifted their price objective on shares of VICI Properties from $34.00 to $35.00 and gave the company a “market outperform” rating in a research report on Friday. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.11.

VICI Properties Price Performance

Shares of VICI Properties stock traded down $0.32 during trading on Friday, hitting $31.44. The stock had a trading volume of 6,317,474 shares, compared to its average volume of 3,702,203. The business has a fifty day moving average of $32.98 and a two-hundred day moving average of $30.68. VICI Properties has a fifty-two week low of $27.08 and a fifty-two week high of $34.29. The firm has a market cap of $32.92 billion, a P/E 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Wednesday, September 18th were given a dividend of $0.4325 per share. 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. This represents a $1.73 annualized dividend and a dividend yield of 5.50%. VICI Properties’s dividend payout ratio (DPR) is 64.07%.

About VICI Properties

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.