Vici Properties declares regular quarterly dividend of $0.39

Gaming real estate investment trust VICI Properties has declared a regular quarterly cash dividend of $0.39 per share of common stock for the period from January 1, 2023, to March 31, 2023. The dividend will be payable on April 6 to stockholders of record as of the close of business on March 23.

Shares must be purchased before the ex-div date of March 22, 2023, to qualify for the dividend. At the current share price of $33.22/share, the stock's dividend yield is 4.70%.

Looking back five years and taking a sample every week, the average dividend yield has been 5.26%, the lowest has been 4.02%, and the highest has been 10.14%, says Fintel. Additionally, the company's dividend payout ratio is 1.40. The company's three-year dividend growth rate is 0.31%, demonstrating that it has increased its dividend over time.

As of March 10, 2023, the average one-year price target for VICI Properties is $39.16, which represents an increase of 17.87% from its latest reported closing price of $33.22. The forecasts range from a low of $32.32 to a high of $48.30. The projected annual revenue for the company is $3,223MM, an increase of 21.14%. The projected annual non-GAAP EPS is $2.44.

There are 1729 funds or institutions reporting positions in VICI Properties. This is an increase of 57 owners or 3.41% in the last quarter. The average portfolio weight of all funds dedicated to VICI is 0.56%, an increase of 11.38%. Total shares owned by institutions decreased in the last three months by 4.25% to 1,115,536K shares. The put/call ratio of VICI is 0.48, indicating a bullish outlook.

MGM Grand and Mandalay Bay, also part of Vici's portfolio

Back in February, the company unveiled its fourth quarter and full-year 2022 results, including a new all-time high for yearly revenue. During Q4, total revenues increased 100.9% year-over-year to $769 million, while net income attributable to common stockholders increased 114.6% to $604.1 million. 

As for the entire year, total revenues jumped 72.3% Y-o-Y to $2.6 billion, a new record for the New York-listed casino landlord. However, expenses also shot higher, and overall profits didn’t climb nearly as fast as its revenue. VICI said it booked almost $1.14 billion in net income last year, up 11% from $1.02 billion in 2021.

A Caesars Entertainment spinoff, VICI was launched in 2017 but now has a real estate portfolio that spans many of Las Vegas’ biggest casino resorts, including Caesars Palace, The Venetian, The Mirage, Mandalay Bay and MGM Grand. These and other properties in its portfolio are leased to operators that pay rent to VICI, which generates some 45% of its revenue from Vegas.