Chartwell Investment Partners LLC lessened its position in shares of MGM Growth Properties LLC (NYSE:MGP) by 6.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 265,551 shares of the financial services provider’s stock after selling 19,205 shares during the quarter. Chartwell Investment Partners LLC owned 0.37% of MGM Growth Properties worth $7,741,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of MGP. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in MGM Growth Properties during the third quarter valued at $80,532,000. Cohen & Steers Inc. purchased a new stake in MGM Growth Properties during the third quarter valued at $62,629,000. APG Asset Management N.V. increased its position in MGM Growth Properties by 169.8% during the fourth quarter. APG Asset Management N.V. now owns 2,374,000 shares of the financial services provider’s stock valued at $57,630,000 after acquiring an additional 1,494,100 shares during the last quarter. JPMorgan Chase & Co. increased its position in MGM Growth Properties by 51.0% during the third quarter. JPMorgan Chase & Co. now owns 3,337,717 shares of the financial services provider’s stock valued at $100,733,000 after acquiring an additional 1,127,948 shares during the last quarter. Finally, American Century Companies Inc. increased its position in MGM Growth Properties by 17.4% during the fourth quarter. American Century Companies Inc. now owns 3,919,299 shares of the financial services provider’s stock valued at $114,248,000 after acquiring an additional 579,541 shares during the last quarter.
Shares of MGM Growth Properties LLC (NYSE MGP) opened at $26.60 on Friday. 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 company has a market capitalization of $1,863.17, a PE ratio of 34.55, a price-to-earnings-growth ratio of 0.73 and a beta of -1.41. MGM Growth Properties LLC has a 1 year low of $25.15 and a 1 year high of $31.83.
MGP has been the subject of a number of research reports. Ladenburg Thalmann Financial Services set a $35.00 price objective on MGM Growth Properties and gave the company a “buy” rating in a research report on Wednesday, January 17th. SunTrust Banks reiterated a “buy” rating and set a $30.00 price objective on shares of MGM Growth Properties in a research report on Tuesday, October 24th. Zacks Investment Research upgraded MGM Growth Properties from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Thursday, January 4th. ValuEngine upgraded MGM Growth Properties from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. Finally, Morgan Stanley upped their price objective on MGM Growth Properties from $30.00 to $31.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 24th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. MGM Growth Properties has a consensus rating of “Buy” and an average price target of $32.13.
In related news, Director Robert W. Smith purchased 1,500 shares of MGM Growth Properties stock in a transaction on Monday, November 20th. The stock was acquired at an average price of $29.41 per share, for a total transaction of $44,115.00. Following the completion of the transaction, the director now directly owns 5,319 shares in the company, valued at approximately $156,431.79. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.60% of the company’s stock.
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MGM Growth Properties Company Profile
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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