MGM Growth Properties LLC (NYSE:mgp) announced a quarterly dividend on Thursday, September 15th. Investors of record on Friday, September 30th will be given a dividend of 0.387 per share on Friday, October 14th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 5.85%. The ex-dividend date is Wednesday, September 28th.
Shares of MGM Growth Properties (NYSE:MGP) opened at 26.44 on Tuesday. The company has a 50 day moving average of $25.74 and a 200-day moving average of $25.00. MGM Growth Properties has a 12-month low of $21.00 and a 12-month high of $27.89. The company’s market capitalization is $1.52 billion.
MGM Growth Properties (NYSE:MGP) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by $0.35. The business had revenue of $101.25 million for the quarter, compared to analysts’ expectations of $110.24 million. On average, equities analysts anticipate that MGM Growth Properties will post $1.29 EPS for the current fiscal year.
A number of large investors have recently modified their holdings of the company. Veritable L.P. bought a new stake in shares of MGM Growth Properties during the second quarter worth approximately $204,000. Menta Capital LLC bought a new stake in shares of MGM Growth Properties during the second quarter worth approximately $287,000. Cubist Systematic Strategies LLC bought a new stake in shares of MGM Growth Properties during the second quarter worth approximately $520,000. Jane Street Group LLC bought a new stake in shares of MGM Growth Properties during the second quarter worth approximately $583,000. Finally, Guggenheim Capital LLC bought a new stake in shares of MGM Growth Properties during the second quarter worth approximately $633,000. 97.13% of the stock is currently owned by hedge funds and other institutional investors.
MGP has been the topic of several analyst reports. Bank of America Corp. reissued a “buy” rating and issued a $29.00 price target on shares of MGM Growth Properties in a report on Friday, August 5th. Zacks Investment Research raised shares of MGM Growth Properties from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a report on Tuesday, July 19th. Deutsche Bank AG reaffirmed a “buy” rating on shares of MGM Growth Properties in a report on Monday, June 27th. Morgan Stanley lowered shares of MGM Growth Properties from an “overweight” rating to an “equal weight” rating and set a $25.00 target price on the stock. in a report on Wednesday, June 22nd. Finally, Citigroup Inc. upped their target price on shares of MGM Growth Properties from $23.00 to $26.00 and gave the stock a “neutral” rating in a report on Friday, August 5th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. MGM Growth Properties has a consensus rating of “Buy” and an average target price of $26.50.
MGM Growth Properties Company Profile
MGM Growth Properties LLC is a real estate investment trust. The Company is a subsidiary of MGM Resorts International, a holding company, which through its subsidiaries, owns and operates casino resorts. The Company is 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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