MGM Growth Properties LLC (NYSE:MGP) Shares Acquired by UBS Oconnor LLC

UBS Oconnor LLC boosted its position in shares of MGM Growth Properties LLC (NYSE:MGP) by 51.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 300,000 shares of the financial services provider’s stock after purchasing an additional 102,500 shares during the period. UBS Oconnor LLC owned approximately 0.32% of MGM Growth Properties worth $9,195,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MGP. Janus Henderson Group PLC grew its holdings in MGM Growth Properties by 50.0% during the 2nd quarter. Janus Henderson Group PLC now owns 4,814,207 shares of the financial services provider’s stock valued at $147,552,000 after purchasing an additional 1,605,007 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in MGM Growth Properties by 48.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,191,929 shares of the financial services provider’s stock valued at $96,811,000 after acquiring an additional 1,034,932 shares during the last quarter. Centersquare Investment Management LLC bought a new position in MGM Growth Properties during the 2nd quarter valued at $25,496,000. Echo Street Capital Management LLC boosted its stake in MGM Growth Properties by 25.8% during the 2nd quarter. Echo Street Capital Management LLC now owns 1,738,720 shares of the financial services provider’s stock valued at $53,292,000 after acquiring an additional 356,904 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its stake in MGM Growth Properties by 7.6% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,143,287 shares of the financial services provider’s stock valued at $133,621,000 after acquiring an additional 292,004 shares during the last quarter. 97.39% of the stock is owned by institutional investors and hedge funds.

Shares of MGM Growth Properties stock traded up $0.26 during trading hours on Thursday, reaching $30.73. The company’s stock had a trading volume of 661,814 shares, compared to its average volume of 891,011. The company’s 50 day simple moving average is $29.96 and its 200 day simple moving average is $30.92. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.62 and a current ratio of 0.62. MGM Growth Properties LLC has a one year low of $25.50 and a one year high of $33.30. The stock has a market cap of $2.83 billion, a P/E ratio of 13.78, a price-to-earnings-growth ratio of 3.87 and a beta of 0.48.

MGM Growth Properties (NYSE:MGP) last posted its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.35). MGM Growth Properties had a return on equity of 1.29% and a net margin of 7.51%. The business had revenue of $225.76 million during the quarter, compared to the consensus estimate of $233.62 million. During the same quarter in the previous year, the business posted $0.55 earnings per share. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, sell-side analysts predict that MGM Growth Properties LLC will post 2.26 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $0.47 dividend. This is an increase from MGM Growth Properties’s previous quarterly dividend of $0.47. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.12%. The ex-dividend date of this dividend is Friday, September 27th. MGM Growth Properties’s dividend payout ratio (DPR) is presently 83.86%.

A number of research analysts have commented on MGP shares. Scotiabank started coverage on shares of MGM Growth Properties in a research note on Monday, July 29th. They set an “outperform” rating on the stock. Nomura reiterated a “buy” rating and set a $39.00 price objective on shares of MGM Growth Properties in a research note on Thursday, August 8th. Deutsche Bank reiterated a “hold” rating and set a $32.00 price objective on shares of MGM Growth Properties in a research note on Thursday, August 8th. Morgan Stanley set a $35.00 price objective on shares of MGM Growth Properties and gave the company a “hold” rating in a research note on Tuesday, June 11th. Finally, Evercore ISI set a $38.00 price objective on shares of MGM Growth Properties and gave the company a “buy” rating in a research note on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. MGM Growth Properties has a consensus rating of “Buy” and an average target price of $34.33.

MGM Growth Properties Profile

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.

Further Reading: Outperform Rating

Institutional Ownership by Quarter for MGM Growth Properties (NYSE:MGP)

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