Evercore ISI reissued their buy rating on shares of MGM Growth Properties (NYSE:MGP) in a report published on Monday morning, AnalystRatings.com reports. They currently have a $37.00 price objective on the financial services provider’s stock.
Several other research analysts have also commented on the stock. Deutsche Bank reaffirmed a hold rating and issued a $32.00 price target on shares of MGM Growth Properties in a report on Wednesday, November 6th. Zacks Investment Research lowered shares of MGM Growth Properties from a buy rating to a hold rating in a report on Friday, November 8th. ValuEngine lowered shares of MGM Growth Properties from a hold rating to a sell rating in a report on Saturday, October 5th. Macquarie assumed coverage on shares of MGM Growth Properties in a report on Thursday, October 24th. They issued an outperform rating and a $35.00 price target for the company. Finally, Scotiabank assumed coverage on shares of MGM Growth Properties in a report on Monday, July 29th. They issued an outperform rating for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $34.70.
Shares of NYSE MGP traded up $0.59 during midday trading on Monday, hitting $32.70. The company’s stock had a trading volume of 744,146 shares, compared to its average volume of 782,003. MGM Growth Properties has a 1-year low of $25.50 and a 1-year high of $33.30. The firm’s fifty day moving average price is $30.77 and its 200-day moving average price is $30.71. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.58 and a current ratio of 1.58. The firm has a market cap of $3.05 billion, a P/E ratio of 14.66, a P/E/G ratio of 4.06 and a beta of 0.48.
MGM Growth Properties (NYSE:MGP) last posted its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $0.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.35). MGM Growth Properties had a net margin of 8.24% and a return on equity of 1.31%. The business had revenue of $226.01 million during the quarter, compared to analyst estimates of $227.29 million. During the same period last year, the firm posted $0.49 earnings per share. The company’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, research analysts predict that MGM Growth Properties will post 2.26 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 5.75%. This is a positive change from MGM Growth Properties’s previous quarterly dividend of $0.47. The ex-dividend date was Friday, September 27th. MGM Growth Properties’s payout ratio is presently 84.30%.
Institutional investors have recently bought and sold shares of the business. River & Mercantile Asset Management LLP acquired a new position in MGM Growth Properties during the 2nd quarter valued at about $31,000. Duncker Streett & Co. Inc. acquired a new position in MGM Growth Properties during the 2nd quarter valued at about $37,000. Aperio Group LLC acquired a new position in MGM Growth Properties during the 2nd quarter valued at about $89,000. Redhawk Wealth Advisors Inc. acquired a new position in MGM Growth Properties during the 2nd quarter valued at about $90,000. Finally, Tower Research Capital LLC TRC acquired a new position in MGM Growth Properties during the 2nd quarter valued at about $125,000. 96.91% of the stock is owned by hedge funds and other institutional investors.
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.
Read More: What is a dead cat bounce?
Receive News & Ratings for MGM Growth Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGM Growth Properties and related companies with MarketBeat.com's FREE daily email newsletter.