MGM Growth Properties LLC (MGP) Shares Sold by Usca Ria LLC

Usca Ria LLC reduced its holdings in shares of MGM Growth Properties LLC (NYSE:MGP) by 21.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 8,736 shares of the financial services provider’s stock after selling 2,385 shares during the period. Usca Ria LLC’s holdings in MGM Growth Properties were worth $258,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Synovus Financial Corp boosted its stake in shares of MGM Growth Properties by 857.9% during the 3rd quarter. Synovus Financial Corp now owns 3,391 shares of the financial services provider’s stock valued at $100,000 after buying an additional 3,037 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of MGM Growth Properties during the 2nd quarter valued at approximately $153,000. Paloma Partners Management Co purchased a new position in shares of MGM Growth Properties during the 2nd quarter valued at approximately $204,000. Xact Kapitalforvaltning AB boosted its stake in shares of MGM Growth Properties by 29.6% during the 1st quarter. Xact Kapitalforvaltning AB now owns 9,195 shares of the financial services provider’s stock valued at $244,000 after buying an additional 2,100 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of MGM Growth Properties during the 1st quarter valued at approximately $251,000.

MGP stock opened at $28.64 on Friday. The company has a current ratio of 8.43, a quick ratio of 8.43 and a debt-to-equity ratio of 0.66. The company has a market cap of $1.98 billion, a P/E ratio of 14.25, a PEG ratio of 1.26 and a beta of -0.01. MGM Growth Properties LLC has a 12-month low of $25.31 and a 12-month high of $31.61.

MGM Growth Properties (NYSE:MGP) last posted its quarterly earnings results on Thursday, November 1st. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.31). The firm had revenue of $282.22 million for the quarter, compared to analyst estimates of $273.53 million. MGM Growth Properties had a net margin of 6.13% and a return on equity of 0.95%. The business’s revenue was up 54.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 earnings per share. Sell-side analysts expect that MGM Growth Properties LLC will post 2.15 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were given a dividend of $0.438 per share. This is a positive change from MGM Growth Properties’s previous quarterly dividend of $0.43. This represents a $1.75 annualized dividend and a dividend yield of 6.12%. The ex-dividend date was Thursday, September 27th. MGM Growth Properties’s dividend payout ratio is currently 87.06%.

Several equities analysts have recently commented on the company. Zacks Investment Research cut MGM Growth Properties from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 25th. Barclays increased their target price on MGM Growth Properties from $33.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, July 12th. Bank of America increased their target price on MGM Growth Properties from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, July 17th. SunTrust Banks reiterated a “hold” rating on shares of MGM Growth Properties in a research note on Tuesday, October 2nd. Finally, Morgan Stanley increased their target price on MGM Growth Properties from $29.00 to $32.00 and gave the company a “hold” rating in a research note on Tuesday, July 24th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $32.50.

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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.

Further Reading: How Do I Invest in Dividend Stocks

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Institutional Ownership by Quarter for MGM Growth Properties (NYSE:MGP)

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