Morgan Stanley started coverage on shares of MGM Growth Properties (NYSE:MGP) in a report issued on Thursday morning, Marketbeat Ratings reports. The brokerage issued an equal weight rating and a $29.00 target price on the financial services provider’s stock.
MGP has been the topic of several other research reports. Ladenburg Thalmann Financial Services set a $35.00 target price on shares of MGM Growth Properties and gave the stock a buy rating in a report on Wednesday, January 17th. ValuEngine upgraded shares of MGM Growth Properties from a hold rating to a buy rating in a report on Thursday, November 9th. Zacks Investment Research cut shares of MGM Growth Properties from a buy rating to a hold rating in a report on Friday, January 5th. Finally, 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. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. MGM Growth Properties presently has a consensus rating of Buy and an average price target of $32.13.
MGM Growth Properties (MGP) opened at $26.60 on Thursday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 28.86 and a current ratio of 28.86. MGM Growth Properties has a one year low of $25.15 and a one year high of $31.83. The company has a market cap of $1,885.86, a P/E ratio of 34.55, a price-to-earnings-growth ratio of 0.74 and a beta of -1.41.
In other news, Director Robert W. Smith bought 1,500 shares of the business’s stock in a transaction dated Monday, November 20th. The shares were purchased at an average price of $29.41 per share, for a total transaction of $44,115.00. Following the completion of the acquisition, the director now owns 5,319 shares of the company’s stock, valued at $156,431.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.60% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of the company. Winslow Evans & Crocker Inc. bought a new stake in MGM Growth Properties in the third quarter valued at $177,000. Envestnet Asset Management Inc. boosted its holdings in MGM Growth Properties by 932.0% in the third quarter. Envestnet Asset Management Inc. now owns 9,288 shares of the financial services provider’s stock valued at $281,000 after acquiring an additional 8,388 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new stake in MGM Growth Properties in the third quarter valued at $285,000. HighTower Advisors LLC bought a new stake in MGM Growth Properties in the second quarter valued at $354,000. Finally, FDx Advisors Inc. bought a new stake in MGM Growth Properties in the third quarter valued at $395,000.
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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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