MGM Growth Properties (NYSE:MGP) Stock Rating Lowered by Zacks Investment Research

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MGM Growth Properties (NYSE:MGP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “MGM Growth Properties LLC is a real estate investment trust. The company is engaged in the acquisition, ownership and leasing of destination entertainment and leisure resorts which include casino gaming, hotel, convention, dining, entertainment and retail offerings. MGM Growth Properties LLC is based in Las Vegas, Nevada. “

Other research analysts have also issued reports about the company. Credit Suisse Group reaffirmed a “neutral” rating and issued a $108.00 target price on shares of Wynn Resorts in a research report on Wednesday, March 20th. JPMorgan Chase & Co. set a €117.00 ($136.05) price target on Siemens and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. TheStreet upgraded Secureworks from a “d+” rating to a “c-” rating in a research note on Monday, April 22nd. Morgan Stanley upped their price target on from GBX 1,430 ($18.69) to GBX 1,560 ($20.38) and gave the stock an “equal weight” rating in a research note on Tuesday, June 11th. Finally, Deutsche Bank downgraded Hilton Hotels from a “buy” rating to a “hold” rating and set a $92.60 price target for the company. in a research note on Wednesday, May 1st. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $34.00.

Shares of MGP stock opened at $30.04 on Tuesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.96 and a current ratio of 0.96. MGM Growth Properties has a fifty-two week low of $25.50 and a fifty-two week high of $33.30. The business has a 50-day moving average price of $30.94. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of 13.31, a P/E/G ratio of 2.34 and a beta of 0.50.

MGM Growth Properties (NYSE:MGP) last issued its earnings results on Tuesday, April 30th. The financial services provider reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.34). MGM Growth Properties had a return on equity of 1.16% and a net margin of 6.73%. The firm had revenue of $271.30 million during the quarter, compared to analyst estimates of $283.07 million. During the same period in the previous year, the company earned $0.49 earnings per share. The business’s revenue for the quarter was up 25.7% on a year-over-year basis. As a group, sell-side analysts forecast that MGM Growth Properties will post 2.27 earnings per share for the current fiscal year.

In other MGM Growth Properties news, Director Robert W. Smith bought 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was purchased at an average price of $31.14 per share, for a total transaction of $62,280.00. Following the purchase, the director now directly owns 8,819 shares in the company, valued at $274,623.66. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.49% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. Kayne Anderson Rudnick Investment Management LLC raised its holdings in MGM Growth Properties by 7.6% in 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 in the last quarter. American Century Companies Inc. boosted its position in MGM Growth Properties by 8.5% in the 4th quarter. American Century Companies Inc. now owns 4,020,288 shares of the financial services provider’s stock valued at $106,176,000 after buying an additional 315,403 shares during the last quarter. Janus Henderson Group PLC boosted its position in MGM Growth Properties by 8.6% in the 1st quarter. Janus Henderson Group PLC now owns 3,209,200 shares of the financial services provider’s stock valued at $103,488,000 after buying an additional 254,211 shares during the last quarter. JPMorgan Chase & Co. boosted its position in MGM Growth Properties by 77.8% in the 1st quarter. JPMorgan Chase & Co. now owns 2,156,997 shares of the financial services provider’s stock valued at $69,564,000 after buying an additional 943,770 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in MGM Growth Properties by 6.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,032,923 shares of the financial services provider’s stock valued at $27,280,000 after buying an additional 62,368 shares during the last quarter. Hedge funds and other institutional investors own 99.40% of the company’s stock.

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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