Cetera Investment Advisers has significantly expanded its portfolio, increasing its stake in VICI Properties Inc. (NYSE:VICI) during the first quarter. This strategic move by Cetera, detailed in its recent 13F filing with the SEC, underscores a growing confidence in the experiential real estate investment trust, a trend observed across various institutional investment strategies.
The investment firm’s holdings in VICI Properties surged by 10.8%, with Cetera acquiring an additional 21,441 shares. This acquisition brought their total ownership to 220,614 shares, valued at a substantial $7,196,000 as of their latest SEC filing. This considerable investment reflects Cetera’s belief in VICI Properties’ market stability and future growth potential.
Beyond Cetera, numerous other prominent hedge funds and institutional investors have also adjusted their positions in VICI Properties, signaling widespread interest in this Real Estate Investment Trust. Capital Research Global Investors, for instance, boosted its stake by 1.8% in the fourth quarter, accumulating over 54.5 million shares. Similarly, Capital World Investors significantly increased its holdings by 11.4%, now owning more than 28.3 million shares.
Other major players such as Invesco Ltd., Northern Trust Corp, and Envestnet Asset Management Inc. have likewise demonstrated increased investment in VICI Properties. Invesco Ltd. saw a 5.4% rise in its position, while Northern Trust Corp showed a remarkable 37.3% increase. Envestnet Asset Management Inc. also raised its stake by 9.9% in the first quarter, contributing to the impressive 97.71% institutional ownership of the company’s stock.
Analyst consensus further reinforces a positive outlook for VICI Properties. Research reports from firms like Citigroup, Morgan Stanley, Robert W. Baird, JMP Securities, and Truist Financial have collectively assigned the stock a “Moderate Buy” rating, with an average price target of $35.40. These market analysis reports highlight the company’s strong fundamentals and growth prospects, contributing to investor enthusiasm.
From a market perspective, VICI Properties exhibits robust financial health. The stock opened at $33.10, boasting a market capitalization of $34.98 billion. Key financial metrics such as a P/E ratio of 12.68, a current ratio of 1.74, and a debt-to-equity ratio of 0.62 indicate a stable and efficient operation. The stock has traded between a 12-month low of $27.98 and a high of $34.29, maintaining strong moving averages.
The company’s recent quarterly earnings, announced on July 30th, met analyst expectations with an EPS of $0.60. VICI Properties also reported a revenue of $1 billion for the quarter, surpassing analyst estimates and marking a 4.6% year-over-year increase. These strong financial results further solidify the company’s position as a lucrative Stock Investment.
VICI Properties Inc. distinguishes itself as an S&P 500 experiential Real Estate Investment Trust, holding an extensive portfolio of leading gaming, hospitality, and entertainment destinations. Its impressive collection includes iconic properties like Caesars Palace Las Vegas, MGM Grand, and The Venetian Resort Las Vegas, cementing its status as a significant entity in the entertainment real estate sector and a key focus for institutional holdings.
