MGM Growth Properties LLC (NYSE:MGP) Receives $33.86 Consensus Price Target from Brokerages


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Shares of MGM Growth Properties LLC (NYSE:MGP) have been assigned an average rating of “Buy” from the seventeen ratings firms that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $33.86.

A number of equities analysts have recently commented on the company. KeyCorp assumed coverage on MGM Growth Properties in a research note on Monday, March 22nd. They issued an “overweight” rating on the stock. Raymond James lifted their price objective on MGM Growth Properties from $36.00 to $38.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 17th. Zacks Investment Research lowered MGM Growth Properties from a “buy” rating to a “hold” rating in a research note on Thursday. Morgan Stanley lifted their price objective on MGM Growth Properties from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 25th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on MGM Growth Properties from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, February 17th.

NYSE MGP traded up $0.25 during trading on Monday, hitting $35.64. 7,724 shares of the company traded hands, compared to its average volume of 1,191,168. MGM Growth Properties has a 12 month low of $21.00 and a 12 month high of $35.45. The business has a fifty day simple moving average of $33.63 and a 200 day simple moving average of $31.45. The company has a current ratio of 7.69, a quick ratio of 7.69 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $5.46 billion, a P/E ratio of 72.23 and a beta of 0.76.

MGM Growth Properties (NYSE:MGP) last posted its quarterly earnings data on Tuesday, February 16th. The financial services provider reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.27). MGM Growth Properties had a return on equity of 1.15% and a net margin of 7.35%. Equities research analysts predict that MGM Growth Properties will post 2.27 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 15th. Shareholders of record on Wednesday, March 31st were issued a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a yield of 5.56%. This is an increase from MGM Growth Properties’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Tuesday, March 30th. MGM Growth Properties’s payout ratio is presently 84.98%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Coronation Fund Managers Ltd. boosted its holdings in MGM Growth Properties by 7.3% during the fourth quarter. Coronation Fund Managers Ltd. now owns 97,393 shares of the financial services provider’s stock valued at $3,048,000 after purchasing an additional 6,668 shares in the last quarter. Wambolt & Associates LLC boosted its holdings in MGM Growth Properties by 113.6% during the first quarter. Wambolt & Associates LLC now owns 14,768 shares of the financial services provider’s stock valued at $497,000 after purchasing an additional 7,854 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new stake in MGM Growth Properties during the fourth quarter valued at approximately $203,000. Schnieders Capital Management LLC boosted its holdings in MGM Growth Properties by 27.6% during the fourth quarter. Schnieders Capital Management LLC now owns 40,950 shares of the financial services provider’s stock valued at $1,282,000 after purchasing an additional 8,850 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in MGM Growth Properties by 83.1% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 40,000 shares of the financial services provider’s stock valued at $1,252,000 after purchasing an additional 18,155 shares in the last quarter. 83.18% of the stock is currently owned by 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.

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Analyst Recommendations for MGM Growth Properties (NYSE:MGP)

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