KeyBanc Capital Markets slashes price target on VICI Properties Inc. [VICI] – find out why.

VICI Properties Inc. [NYSE: VICI] slipped around -0.65 points on Tuesday, while shares priced at $31.75 at the close of the session, down -2.01%. The company report on December 27, 2022 that VICI Properties Inc. to Provide Mezzanine Financing for Fontainebleau Las Vegas.

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VICI Properties Inc. (NYSE: VICI) (“VICI Properties” or “VICI”), an experiential real estate investment trust, announced today that VICI has agreed to provide up to $350 million in mezzanine loan financing to a partnership between Fontainebleau Development, LLC (“Fontainebleau Development”), a builder, owner, and operator of luxury hospitality, commercial and retail properties, and Koch Real Estate Investments, the real estate investment arm of Koch Industries, to complete the construction of Fontainebleau Las Vegas, a 67-story hotel, gaming, meeting, and entertainment destination coming to the north end of the Las Vegas Strip.

Fontainebleau Las Vegas spans 25 acres and nine million square feet in a coveted location on the northern end of the Las Vegas Strip directly adjacent to the Las Vegas Convention Center, and will feature approximately 3,700 luxury hotel rooms, 550,000 square feet of customizable convention and meeting space, and a world-class collection of gaming, dining, retail, lifestyle, and health and wellness experiences. Fontainebleau Las Vegas is expected to open in the fourth quarter of 2023.

VICI Properties Inc. stock is now -2.01% down from its year-to-date (YTD) trading value. VICI Stock saw the intraday high of $32.685 and lowest of $31.645 per share. The company’s 52-week high price is 35.69, which means current price is +0.33% above from all time high which was touched on 01/03/23.

Compared to the average trading volume of 5.92M shares, VICI reached a trading volume of 5713732 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about VICI Properties Inc. [VICI]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for VICI shares is $37.87 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on VICI stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

KeyBanc Capital Markets have made an estimate for VICI Properties Inc. shares, keeping their opinion on the stock as Sector Weight, with their previous recommendation back on December 14, 2022. While these analysts kept the previous recommendation, JMP Securities raised their target price to Mkt Outperform. The new note on the price target was released on August 24, 2022, representing the official price target for VICI Properties Inc. stock. Previously, the target price had yet another raise to $37, while Evercore ISI analysts kept a Outperform rating on VICI stock.

The Average True Range (ATR) for VICI Properties Inc. is set at 0.63, with the Price to Sales ratio for VICI stock in the period of the last 12 months amounting to 14.31. The Price to Book ratio for the last quarter was 1.41, with the Price to Cash per share for the same quarter was set at 0.52. Price to Free Cash Flow for VICI in the course of the last twelve months was 47.31.

How has VICI stock performed recently?

VICI Properties Inc. [VICI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.82. With this latest performance, VICI shares dropped by -6.23% in over the last four-week period, additionally plugging by 3.42% over the last 6 months – not to mention a rise of 5.45% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for VICI stock in for the last two-week period is set at 37.17, with the RSI for the last a single of trading hit 30.00, and the three-weeks RSI is set at 42.09 for VICI Properties Inc. [VICI]. The present Moving Average for the last 50 days of trading for this stock 32.57, while it was recorded at 32.29 for the last single week of trading, and 31.37 for the last 200 days.

VICI Properties Inc. [VICI]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and VICI Properties Inc. [VICI] shares currently have an operating margin of +94.99 and a Gross Margin at +98.42. VICI Properties Inc.’s Net Margin is presently recorded at +67.16.

Return on Equity for this stock inclined to 9.42, with Return on Assets sitting at 5.85.

Earnings analysis for VICI Properties Inc. [VICI]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for VICI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for VICI Properties Inc. go to 7.10%.

Insider trade positions for VICI Properties Inc. [VICI]

There are presently around $30,822 million, or 98.60% of VICI stock, in the hands of institutional investors. The top three institutional holders of VICI stocks are: VANGUARD GROUP INC with ownership of 141,137,839, which is approximately 0.427% of the company’s market cap and around 0.38% of the total institutional ownership; BLACKROCK INC., holding 94,875,097 shares of the stock with an approximate value of $3.01 billion in VICI stocks shares; and CAPITAL INTERNATIONAL INVESTORS, currently with $2.4 billion in VICI stock with ownership of nearly -5.094% of the company’s market capitalization.

Positions in VICI Properties Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 347 institutional holders increased their position in VICI Properties Inc. [NYSE:VICI] by around 36,026,582 shares. Additionally, 279 investors decreased positions by around 84,659,648 shares, while 82 investors held positions by with 850,080,598 shares. The mentioned changes placed institutional holdings at 970,766,828 shares, according to the latest SEC report filing. VICI stock had 78 new institutional investments in for a total of 7,138,243 shares, while 54 institutional investors sold positions of 3,245,408 shares during the same period.

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