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

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

Separately, Zacks Investment Research raised MGM Growth Properties from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research note 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 company. According to MarketBeat, MGM Growth Properties has an average rating of “Hold” and an average price target of $43.60.

MGP stock opened at $41.64 on Wednesday. The company has a market cap of $6.53 billion, a price-to-earnings ratio of 30.39, a price-to-earnings-growth ratio of 2.74 and a beta of 0.89. The company has a fifty day moving average price of $39.48 and a 200 day moving average price of $38.83. The company has a debt-to-equity ratio of 0.78, a current ratio of 14.96 and a quick ratio of 14.96. MGM Growth Properties has a 12 month low of $33.43 and a 12 month high of $43.19.

MGM Growth Properties (NYSE:MGP – Get Rating) last posted its quarterly earnings data on Thursday, April 21st. The financial services provider reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.09. MGM Growth Properties had a net margin of 27.27% and a return on equity of 4.10%. The company had revenue of $201.90 million for the quarter, compared to analyst estimates of $201.52 million. During the same period in the previous year, the business posted $0.60 earnings per share. MGM Growth Properties’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, analysts anticipate that MGM Growth Properties will post 2.47 earnings per share for the current year.

In related news, CFO Andy H. Chien sold 8,000 shares of the company’s stock in a transaction on Wednesday, March 9th. The stock was sold at an average price of $37.54, for a total transaction of $300,320.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.41% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. DigitalBridge Group Inc. boosted its position in MGM Growth Properties by 1,220.0% during the first quarter. DigitalBridge Group Inc. now owns 13,933,000 shares of the financial services provider’s stock worth $35,856,000 after purchasing an additional 12,877,500 shares in the last quarter. Capital World Investors lifted its position in shares of MGM Growth Properties by 2.7% in the third quarter. Capital World Investors now owns 12,625,000 shares of the financial services provider’s stock valued at $483,538,000 after acquiring an additional 335,000 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of MGM Growth Properties by 1.2% in the first quarter. Vanguard Group Inc. now owns 8,687,372 shares of the financial services provider’s stock valued at $336,201,000 after acquiring an additional 103,479 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of MGM Growth Properties by 1.0% in the first quarter. Principal Financial Group Inc. now owns 5,210,171 shares of the financial services provider’s stock valued at $201,633,000 after acquiring an additional 52,783 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of MGM Growth Properties by 16.1% in the first quarter. JPMorgan Chase & Co. now owns 4,792,676 shares of the financial services provider’s stock valued at $185,475,000 after acquiring an additional 663,916 shares in 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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