MGM Growth Properties (NYSE:MGP) Upgraded at Zacks Investment Research

MGM Growth Properties (NYSE:MGPGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday, Zacks.com reports. The firm presently has a $46.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 11.79% from the stock’s previous close.

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. “

Separately, StockNews.com initiated coverage on MGM Growth Properties in a research note on Thursday, March 31st. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $41.63.

Shares of NYSE MGP traded up $0.29 during trading on Wednesday, reaching $41.15. 1,207,653 shares of the company traded hands, compared to its average volume of 1,050,161. The firm’s fifty day simple moving average is $38.15 and its 200 day simple moving average is $38.56. The stock has a market cap of $6.45 billion, a P/E ratio of 30.04, a PEG ratio of 2.44 and a beta of 0.89. MGM Growth Properties has a 12-month low of $33.43 and a 12-month high of $43.19. The company has a current ratio of 7.28, a quick ratio of 7.28 and a debt-to-equity ratio of 0.79.

MGM Growth Properties (NYSE:MGPGet Rating) last released its quarterly earnings data on Thursday, February 10th. The financial services provider reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.01). MGM Growth Properties had a net margin of 26.28% and a return on equity of 3.97%. As a group, research analysts expect that MGM Growth Properties will post 2.71 EPS for the current year.

In other MGM Growth Properties news, CFO Andy H. Chien sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 9th. The stock was sold at an average price of $37.54, for a total transaction of $300,320.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.41% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of the business. Jackson Square Capital LLC increased its stake in MGM Growth Properties by 9.6% during the 1st quarter. Jackson Square Capital LLC now owns 18,472 shares of the financial services provider’s stock worth $715,000 after buying an additional 1,624 shares in the last quarter. Wedbush Securities Inc. boosted its holdings in shares of MGM Growth Properties by 7.9% during the 1st quarter. Wedbush Securities Inc. now owns 57,637 shares of the financial services provider’s stock worth $2,231,000 after purchasing an additional 4,232 shares during the last quarter. TCW Group Inc. boosted its holdings in shares of MGM Growth Properties by 179.9% during the 1st quarter. TCW Group Inc. now owns 207,949 shares of the financial services provider’s stock worth $8,047,000 after purchasing an additional 133,651 shares during the last quarter. Spirit of America Management Corp NY boosted its holdings in shares of MGM Growth Properties by 6.2% during the 1st quarter. Spirit of America Management Corp NY now owns 51,150 shares of the financial services provider’s stock worth $1,979,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Carmel Capital Partners LLC boosted its holdings in shares of MGM Growth Properties by 10.2% during the 1st quarter. Carmel Capital Partners LLC now owns 16,331 shares of the financial services provider’s stock worth $632,000 after purchasing an additional 1,511 shares during the last quarter. Institutional investors own 89.36% of the company’s stock.

MGM Growth Properties Company Profile (Get Rating)

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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