Red Cedar Investment Management LLC Reduces Holdings in VICI Properties Inc. (NYSE:VICI)

Red Cedar Investment Management LLC reduced its holdings in shares of VICI Properties Inc. (NYSE:VICI) by 47.9% during the 4th quarter, HoldingsChannel reports. The firm owned 31,535 shares of the company’s stock after selling 29,004 shares during the period. Red Cedar Investment Management LLC’s holdings in VICI Properties were worth $921,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Continuum Advisory LLC lifted its stake in shares of VICI Properties by 30.5% in the 3rd quarter. Continuum Advisory LLC now owns 1,599 shares of the company’s stock worth $50,000 after acquiring an additional 374 shares during the period. Quent Capital LLC lifted its stake in shares of VICI Properties by 27.1% in the 4th quarter. Quent Capital LLC now owns 2,194 shares of the company’s stock worth $64,000 after acquiring an additional 468 shares during the period. Brown Brothers Harriman & Co. lifted its stake in shares of VICI Properties by 512.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,948 shares of the company’s stock worth $65,000 after acquiring an additional 1,630 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in shares of VICI Properties in the 3rd quarter worth $67,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in shares of VICI Properties by 1,774.4% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,343 shares of the company’s stock worth $78,000 after acquiring an additional 2,218 shares during the period. 97.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VICI has been the subject of several recent analyst reports. Mizuho reduced their price objective on shares of VICI Properties from $33.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, January 8th. KeyCorp reiterated a “sector weight” rating on shares of VICI Properties in a research note on Tuesday, December 17th. JMP Securities reiterated a “market outperform” rating and issued a $35.00 price objective on shares of VICI Properties in a research note on Monday, January 27th. Wedbush cut shares of VICI Properties from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Finally, Truist Financial reduced their price objective on shares of VICI Properties from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.22.

VICI Properties Stock Performance

Shares of VICI opened at $30.39 on Friday. The company has a current ratio of 2.61, a quick ratio of 2.61 and a debt-to-equity ratio of 0.63. The stock has a market cap of $32.04 billion, a P/E ratio of 11.26, a PEG ratio of 3.80 and a beta of 0.95. The company has a 50-day moving average of $29.66 and a two-hundred day moving average of $31.45. VICI Properties Inc. has a 12-month low of $27.08 and a 12-month high of $34.29.

VICI Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Tuesday, December 17th were issued a dividend of $0.4325 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $1.73 dividend on an annualized basis and a dividend yield of 5.69%. VICI Properties’s dividend payout ratio (DPR) is presently 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.