VICI Properties (NYSE:VICI) Updates FY24 Earnings Guidance

VICI Properties (NYSE:VICI) updated its FY24 earnings guidance on Thursday. 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 Stock Performance

VICI Properties stock traded down $0.66 during mid-day trading on Thursday, reaching $31.76. 5,115,566 shares of the stock traded hands, compared to its average volume of 5,707,147. VICI Properties has a 12-month low of $27.08 and a 12-month high of $34.29. The business’s 50-day moving average is $33.02 and its 200-day moving average is $30.62. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.31 and a quick ratio of 2.31. The stock has a market capitalization of $33.13 billion, a PE ratio of 12.77, a price-to-earnings-growth ratio of 5.04 and a beta of 0.93.

VICI Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Wednesday, September 18th were issued a $0.4325 dividend. This is an increase from VICI Properties’s previous quarterly dividend of $0.42. The ex-dividend date was Wednesday, September 18th. This represents a $1.73 dividend on an annualized basis and a dividend yield of 5.45%. VICI Properties’s dividend payout ratio (DPR) is presently 68.38%.

Wall Street Analysts Forecast Growth

VICI has been the subject of a number of research reports. 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 upped their price objective on VICI Properties from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, VICI Properties presently has an average rating of “Moderate Buy” and a consensus target price of $34.00.

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.