MGM Growth Properties LLC (NYSE:MGP) has been given a consensus rating of “Buy” by the eleven research firms that are currently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $32.13.
Several brokerages have recently weighed in on MGP. Bank of America raised their price target on MGM Growth Properties from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, July 17th. Morgan Stanley raised their price target on MGM Growth Properties from $29.00 to $32.00 and gave the company a “hold” rating in a report on Tuesday, July 24th. Credit Suisse Group began coverage on MGM Growth Properties in a report on Tuesday, August 14th. They set a “neutral” rating and a $31.00 price target for the company. Zacks Investment Research downgraded MGM Growth Properties from a “buy” rating to a “hold” rating in a report on Saturday, August 11th. Finally, Citigroup upgraded MGM Growth Properties from a “neutral” rating to a “buy” rating in a report on Wednesday, August 8th.
Shares of NYSE:MGP traded up $0.38 on Wednesday, hitting $30.04. 26,922 shares of the company traded hands, compared to its average volume of 557,759. MGM Growth Properties has a 52 week low of $25.31 and a 52 week high of $31.61. The company has a debt-to-equity ratio of 0.66, a current ratio of 8.43 and a quick ratio of 8.43. The company has a market capitalization of $2.09 billion, a PE ratio of 14.96, a PEG ratio of 1.43 and a beta of -0.45.
MGM Growth Properties (NYSE:MGP) last issued its quarterly earnings results on Tuesday, August 7th. The financial services provider reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.33). MGM Growth Properties had a net margin of 5.85% and a return on equity of 0.81%. The company had revenue of $220.40 million for the quarter, compared to the consensus estimate of $218.17 million. During the same quarter in the previous year, the business earned $0.50 earnings per share. MGM Growth Properties’s revenue was up 19.5% compared to the same quarter last year. sell-side analysts anticipate that MGM Growth Properties will post 2.13 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in MGM Growth Properties in the 2nd quarter worth about $153,000. BNP Paribas Arbitrage SA increased its holdings in MGM Growth Properties by 581.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 6,180 shares of the financial services provider’s stock worth $164,000 after buying an additional 5,273 shares in the last quarter. Paloma Partners Management Co bought a new stake in MGM Growth Properties in the 2nd quarter worth about $204,000. Xact Kapitalforvaltning AB increased its holdings in MGM Growth Properties by 29.6% in the 1st quarter. Xact Kapitalforvaltning AB now owns 9,195 shares of the financial services provider’s stock worth $244,000 after buying an additional 2,100 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in MGM Growth Properties in the 1st quarter worth about $251,000.
About MGM Growth Properties
MGM Growth Properties LLC (NYSE:MGP) is one of the leading publicly traded real estate investment trusts engaged in the acquisition, ownership and leasing of large-scale destination entertainment and leisure resorts, whose diverse amenities include casino gaming, hotel, convention, dining, entertainment and retail offerings.
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