MGM Growth Properties LLC (NYSE:MGP) – Analysts at SunTrust Banks boosted their Q3 2017 EPS estimates for shares of MGM Growth Properties in a research report issued on Tuesday. SunTrust Banks analyst P. Scholes now expects that the financial services provider will post earnings of $0.50 per share for the quarter, up from their prior forecast of $0.49. SunTrust Banks also issued estimates for MGM Growth Properties’ Q4 2017 earnings at $0.50 EPS, FY2017 earnings at $1.98 EPS and FY2018 earnings at $2.04 EPS.
MGM Growth Properties (NYSE:MGP) last issued its earnings results on Tuesday, August 8th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by $0.32. MGM Growth Properties had a return on equity of 0.81% and a net margin of 6.21%. The company had revenue of $184.45 million during the quarter, compared to analysts’ expectations of $184.43 million. During the same quarter in the prior year, the business posted $0.32 EPS. The company’s revenue for the quarter was up 66.3% compared to the same quarter last year. COPYRIGHT VIOLATION WARNING: This story was originally reported by Ticker Report and is owned by of Ticker Report. If you are viewing this story on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark legislation. The correct version of this story can be viewed at https://www.tickerreport.com/banking-finance/2801201/suntrust-banks-weighs-in-on-mgm-growth-properties-llcs-q3-2017-earnings-nysemgp.html.
Several other research firms also recently weighed in on MGP. Zacks Investment Research raised shares of MGM Growth Properties from a “sell” rating to a “hold” rating in a research report on Tuesday, April 18th. ValuEngine raised shares of MGM Growth Properties from a “hold” rating to a “buy” rating in a report on Monday, June 26th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $28.00 price objective (up from $27.00) on shares of MGM Growth Properties in a report on Friday, April 28th. Finally, Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of MGM Growth Properties in a report on Thursday. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. MGM Growth Properties presently has a consensus rating of “Buy” and an average target price of $30.00.
MGM Growth Properties (NYSE MGP) opened at 29.75 on Friday. The firm has a 50-day moving average of $29.19 and a 200 day moving average of $27.58. MGM Growth Properties has a 52-week low of $23.63 and a 52-week high of $30.03. The company has a market capitalization of $1.72 billion, a P/E ratio of 38.14 and a beta of -1.36.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were issued a $0.395 dividend. This is an increase from MGM Growth Properties’s previous quarterly dividend of $0.39. This represents a $1.58 annualized dividend and a dividend yield of 5.31%. The ex-dividend date was Wednesday, June 28th. MGM Growth Properties’s dividend payout ratio is 205.20%.
In other MGM Growth Properties news, Director Robert W. Smith acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were acquired at an average cost of $27.87 per share, with a total value of $55,740.00. Following the acquisition, the director now directly owns 2,000 shares of the company’s stock, valued at $55,740. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.60% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. acquired a new stake in MGM Growth Properties during the first quarter valued at approximately $265,000. Nationwide Fund Advisors increased its stake in MGM Growth Properties by 0.3% in the first quarter. Nationwide Fund Advisors now owns 575,181 shares of the financial services provider’s stock valued at $15,559,000 after buying an additional 1,625 shares during the period. Cambiar Investors LLC increased its stake in MGM Growth Properties by 1.1% in the first quarter. Cambiar Investors LLC now owns 132,564 shares of the financial services provider’s stock valued at $3,586,000 after buying an additional 1,506 shares during the period. Henderson Group PLC acquired a new stake in MGM Growth Properties during the first quarter valued at approximately $10,408,000. Finally, Waratah Capital Advisors Ltd. increased its stake in MGM Growth Properties by 69.2% in the first quarter. Waratah Capital Advisors Ltd. now owns 88,655 shares of the financial services provider’s stock valued at $2,398,000 after buying an additional 36,249 shares during the period. 96.72% of the stock is currently owned by institutional investors and hedge funds.
About MGM Growth Properties
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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