MGM Growth Properties (NYSE:MGP) is scheduled to be posting its quarterly earnings results before the market opens on Tuesday, February 20th. Analysts expect MGM Growth Properties to post earnings of $0.53 per share for the quarter.
Shares of MGM Growth Properties (NYSE:MGP) opened at $26.24 on Tuesday. MGM Growth Properties has a twelve month low of $25.15 and a twelve month high of $31.83. The stock has a market cap of $6,720.00 and a P/E ratio of 33.64. The company has a debt-to-equity ratio of 0.67, a current ratio of 28.86 and a quick ratio of 28.86.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 6.40%. This is an increase from MGM Growth Properties’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, December 28th. MGM Growth Properties’s payout ratio is presently 215.38%.
In other MGM Growth Properties news, Director Robert W. Smith acquired 1,500 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was bought at an average cost of $29.41 per share, for a total transaction of $44,115.00. Following the completion of the purchase, the director now directly owns 5,319 shares in the company, valued at $156,431.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is owned by insiders.
A hedge fund recently raised its stake in MGM Growth Properties stock. State Street Corp grew its holdings in shares of MGM Growth Properties LLC (NYSE:MGP) by 7.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,740 shares of the financial services provider’s stock after buying an additional 4,522 shares during the quarter. State Street Corp owned 0.12% of MGM Growth Properties worth $1,949,000 at the end of the most recent quarter.
A number of equities research analysts recently issued reports on the stock. ValuEngine upgraded shares of MGM Growth Properties from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. Ladenburg Thalmann Financial Services set a $35.00 target price on shares of MGM Growth Properties and gave the company a “buy” rating in a report on Wednesday, January 17th. SunTrust Banks restated a “buy” rating and issued a $31.00 target price on shares of MGM Growth Properties in a report on Friday, November 10th. Zacks Investment Research downgraded shares of MGM Growth Properties from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. Finally, Morgan Stanley boosted their price objective on shares of MGM Growth Properties from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 24th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. MGM Growth Properties currently has a consensus rating of “Buy” and an average price target of $32.38.
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About MGM Growth Properties
MGM Growth Properties LLC is a real estate investment trust engaged in the acquisition, ownership and leasing of destination entertainment and leisure resorts, whose amenities include casino gaming, hotel, convention, dining, entertainment and retail offerings. Its portfolio consists of approximately 10 destination resorts.
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