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 guidance of $2.25-$2.26 for the period, compared to the consensus earnings per share estimate of $2.26. VICI Properties also updated its FY 2024 guidance to 2.250-2.260 EPS.

VICI Properties Stock Performance

VICI stock traded down $0.32 during midday trading on Friday, reaching $31.44. 6,317,474 shares of the company’s stock traded hands, compared to its average volume of 3,702,203. The firm has a market capitalization of $32.92 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 4.99 and a beta of 0.94. The company has a 50-day moving average price of $32.98 and a two-hundred day moving average price of $30.68. VICI Properties has a 52 week low of $27.08 and a 52 week high of $34.29. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.31 and a current ratio of 2.31.

VICI Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Wednesday, September 18th were paid a dividend of $0.4325 per share. The ex-dividend date was Wednesday, September 18th. This represents a $1.73 annualized dividend and a yield of 5.50%. This is a boost from VICI Properties’s previous quarterly dividend of $0.42. VICI Properties’s payout ratio is currently 64.07%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wells Fargo & Company reissued an “overweight” rating and set a $36.00 price objective (up previously from $33.00) on shares of VICI Properties in a report on Tuesday, October 1st. Evercore ISI increased 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. Finally, JMP Securities lifted their price objective on shares of VICI Properties from $34.00 to $35.00 and gave the stock a “market outperform” rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.11.

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.