Vici Properties Inc. (NYSE:VICI) Chief Accounting Officer Gabriel Wasserman has sold a portion of his company stock, according to the latest regulatory filings. The transactions, which took place on September 12, involved the sale of 12,500 shares at an average price of $33.61, totaling approximately $420,125.
The sales were executed in multiple transactions with prices ranging from $33.59 to $33.64 per share. Following the sale, Wasserman's ownership in Vici Properties stands at 33,187 shares of common stock.
Investors often monitor insider sales as they may provide insights into an executive's confidence in the company's future prospects. Vici Properties, a real estate investment trust specializing in casino properties, has not released any statements regarding the transactions.
The transactions were disclosed in a Form 4 filing with the Securities and Exchange Commission, with the reporting person committing to provide detailed information about the number of shares sold at each price upon request.
Vici Properties' stock performance and future outlook remain a point of interest for investors and market analysts alike.
In other recent news, VICI Properties (NYSE:VICI) has reported a strong financial performance for the second quarter of 2024, with a 5.9% increase in Adjusted Funds From Operations (AFFO) per share to $0.57. The company has also raised its AFFO guidance for 2024 to between $2.35 billion and $2.37 billion. VICI Properties has committed up to $950 million in capital to investments like the Venetian and Great Wolf Resorts, aiming for a 7.9% investment yield.
The company has decided not to pursue the acquisition of Harrah's Hoosier Park, focusing instead on more promising investment opportunities. VICI Properties maintains a strong liquidity position, with approximately $3.2 billion available, including cash on hand and credit facility access. The company's total debt stands at $17.1 billion, with a net debt to adjusted EBITDA ratio of 5.4 times.
VICI Properties is exploring growth through diversification, including potential international opportunities, and has expressed confidence in the Las Vegas market. The company has acknowledged the dilutive effect of approximately 90 million shares under for sale agreements, but expects it to have minimal impact on the share count. As part of its recent developments, VICI Properties is planning to refinance its upcoming debt maturities and invest in assets that can endure economic cycles.
InvestingPro Insights
Following the news of Vici Properties Inc. (NYSE:VICI) Chief Accounting Officer's stock sale, it is essential to consider the company's financial health and market performance for a comprehensive understanding. InvestingPro data shows that Vici Properties boasts a strong market capitalization of approximately $35.49 billion USD. Additionally, the company has an attractive P/E ratio of 13.2, suggesting that its shares may be trading at a reasonable price relative to its earnings.
The specialized REIT's financial robustness is further underscored by its impressive gross profit margin over the last twelve months as of Q2 2024, standing at 99.02%, with an operating income margin of 92.66%. These figures reflect Vici Properties' efficient management and its ability to translate revenues into profits effectively. Moreover, the company has demonstrated resilience with a 12.01% revenue growth over the same period, highlighting its potential for continued expansion in the casino property sector.
InvestingPro Tips further enhance the narrative of a promising investment opportunity. Vici Properties has been recognized for raising its dividend for six consecutive years, signaling a commitment to returning value to shareholders. This commitment is also evident in the company's recent dividend yield of 5.15%. Furthermore, Vici Properties is trading near its 52-week high, which reflects strong market confidence and a robust return of 20.44% over the last three months.
For investors seeking more insights, there are additional InvestingPro Tips available on Vici Properties, which can be explored for a deeper analysis of the company's performance and outlook. These tips provide valuable information for making informed investment decisions, as they cover various aspects of the company's financial health and market standing.
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