MGM Growth Properties (NYSE:MGP) Research Coverage Started at StockNews.com

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

Separately, Zacks Investment Research upgraded MGM Growth Properties from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research note on Wednesday, April 20th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, MGM Growth Properties has a consensus rating of “Hold” and an average price target of $43.60.

MGP stock opened at $41.64 on Thursday. The company has a market cap of $6.53 billion, a P/E ratio of 30.39, a PEG ratio of 2.74 and a beta of 0.89. MGM Growth Properties has a twelve month low of $33.43 and a twelve month high of $43.19. The company has a quick ratio of 14.96, a current ratio of 14.96 and a debt-to-equity ratio of 0.78. The business has a fifty day moving average of $40.04 and a 200-day moving average of $38.92.

MGM Growth Properties (NYSE:MGP – Get 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, topping the consensus estimate of $0.35 by $0.09. MGM Growth Properties had a return on equity of 4.10% and a net margin of 27.27%. The company had revenue of $201.90 million during the quarter, compared to the consensus estimate of $201.52 million. During the same period in the prior year, the company earned $0.60 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, equities research analysts anticipate that MGM Growth Properties will post 2.47 earnings per share for the current fiscal year.

In other MGM Growth Properties news, CFO Andy H. Chien sold 8,000 shares of the business’s stock in a transaction on Wednesday, March 9th. The shares were sold at an average price of $37.54, for a total transaction of $300,320.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.41% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. Spire Wealth Management bought a new position in shares of MGM Growth Properties during the fourth quarter valued at approximately $26,000. Cornerstone Advisory LLC purchased a new stake in MGM Growth Properties in the fourth quarter worth approximately $28,000. Steward Partners Investment Advisory LLC boosted its stake in shares of MGM Growth Properties by 311.0% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 711 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 538 shares during the last quarter. Penserra Capital Management LLC purchased a new position in shares of MGM Growth Properties during the 1st quarter worth $38,000. Finally, US Bancorp DE lifted its stake in shares of MGM Growth Properties by 116.0% during the 1st quarter. US Bancorp DE now owns 1,082 shares of the financial services provider’s stock valued at $42,000 after buying an additional 581 shares in the last quarter. Institutional investors own 89.36% of the company’s stock.

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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