James R. Abrahamson, a director at Vici Properties Inc. (NYSE:VICI), has recently made a significant purchase of company stock, according to a new SEC filing. Over the course of two days, Abrahamson acquired a total of 10,000 shares, amounting to approximately $288,080 in stock value.
The transactions took place on March 14 and 15, with prices for the shares ranging between $28.79 and $28.85. On the first day, Abrahamson bought 3,000 shares at $28.85 each. He followed up the next day with a larger purchase of 7,000 shares at an average price of $28.79. The reported prices reflect a weighted average, indicating that the shares were bought in multiple transactions at prices from $28.70 to $28.90.
Following these acquisitions, Abrahamson now directly holds 146,342 shares in the company. Additionally, it's noted that he has indirect ownership of 4,500 shares held by a 401(k) plan and 2,900 shares held by his spouse.
Vici Properties Inc., a real estate investment trust (REIT) specializing in casino properties, has seen its shares trade in a relatively stable range recently. The purchase by a company insider such as Abrahamson could be seen as a positive sign by investors, as it may reflect confidence in the company's financial health and future prospects.
Investors and followers of Vici Properties Inc. will be keeping a close eye on the company's performance and any further insider transactions that may provide additional insights into the sentiment of those at the helm.
InvestingPro Insights
Following the recent insider stock purchases by James R. Abrahamson, a director at Vici Properties Inc. (NYSE:VICI), investors may find additional insights through the lens of InvestingPro metrics and tips. According to InvestingPro, Vici Properties Inc. is currently trading at a low P/E ratio of 11.67, which is appealing relative to its near-term earnings growth. This could suggest that the stock is undervalued, potentially offering a good entry point for investors.
Furthermore, Vici has been consistently raising its dividend, marking six consecutive years of dividend growth. This is a positive indicator of the company's commitment to shareholder returns and may appeal to income-focused investors. The dividend yield stands at a robust 5.74%, highlighting the stock's attractiveness as a potential income-generating investment.
Key financial metrics from InvestingPro Data show that Vici Properties boasts a strong market capitalization of $30.18 billion USD, a substantial revenue growth of 35.81% over the last twelve months as of Q4 2023, and maintains a high gross profit margin of 99.03%. These figures underscore the company's solid financial foundation and efficient operations, supporting the notion that the insider purchases are grounded in a positive outlook for the company's future.
For those interested in gaining deeper insights, InvestingPro offers additional tips, including Vici's low EBIT valuation multiple and its status as a prominent player in the Specialized REITs industry. In total, there are seven InvestingPro Tips available for Vici Properties Inc., which can be accessed through the InvestingPro platform. To enhance your investing strategy with these insights, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
As Vici Properties Inc. approaches its next earnings date on April 30, 2024, these InvestingPro Insights could prove invaluable for investors looking to make informed decisions regarding their portfolio positions in the REIT sector.
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