StockNews.com Begins Coverage on MGM Growth Properties (NYSE:MGP)

StockNews.com initiated coverage on shares of MGM Growth Properties (NYSE:MGPGet Rating) in a note issued to investors on Tuesday. The brokerage set a “hold” rating on the financial services provider’s stock.

Separately, Zacks Investment Research upgraded shares of MGM Growth Properties from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a report on Wednesday, April 20th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, MGM Growth Properties has a consensus rating of “Hold” and a consensus target price of $43.60.

Shares of MGM Growth Properties stock opened at $41.64 on Tuesday. The stock’s fifty day moving average price is $39.01. The company has a debt-to-equity ratio of 0.78, a quick ratio of 14.96 and a current ratio of 14.96. The stock has a market cap of $6.53 billion, a P/E ratio of 30.39, a P/E/G ratio of 2.74 and a beta of 0.89. MGM Growth Properties has a one year low of $33.43 and a one year high of $43.19.

MGM Growth Properties (NYSE:MGPGet Rating) last announced its quarterly earnings results on Thursday, April 21st. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.09. The business had revenue of $201.90 million during the quarter, compared to the consensus estimate of $201.52 million. MGM Growth Properties had a net margin of 27.27% and a return on equity of 4.10%. The business’s revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.60 EPS. As a group, equities analysts anticipate that MGM Growth Properties will post 2.47 EPS for the current year.

In other MGM Growth Properties news, CFO Andy H. Chien sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, March 9th. The shares were sold at an average price of $37.54, for a total transaction of $300,320.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.41% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the business. Capital World Investors boosted its stake in shares of MGM Growth Properties by 2.7% during the 3rd quarter. Capital World Investors now owns 12,625,000 shares of the financial services provider’s stock worth $483,538,000 after purchasing an additional 335,000 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of MGM Growth Properties by 1.0% during the 1st quarter. Principal Financial Group Inc. now owns 5,210,171 shares of the financial services provider’s stock worth $201,633,000 after purchasing an additional 52,783 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of MGM Growth Properties by 2.0% during the 4th quarter. JPMorgan Chase & Co. now owns 4,128,760 shares of the financial services provider’s stock worth $168,660,000 after purchasing an additional 80,184 shares during the last quarter. Centersquare Investment Management LLC boosted its stake in shares of MGM Growth Properties by 31.0% during the 4th quarter. Centersquare Investment Management LLC now owns 4,103,461 shares of the financial services provider’s stock worth $167,626,000 after purchasing an additional 970,000 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of MGM Growth Properties by 7.3% during the 4th quarter. American Century Companies Inc. now owns 3,952,356 shares of the financial services provider’s stock worth $161,454,000 after purchasing an additional 270,113 shares during the last quarter. 89.36% of the stock is currently owned by institutional investors.

About MGM Growth Properties (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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