Credit Suisse Group reissued their neutral rating on shares of MGM Growth Properties (NYSE:MGP) in a research note released on Wednesday. Credit Suisse Group currently has a $31.00 price target on the financial services provider’s stock.
MGP has been the topic of several other research reports. SunTrust Banks raised shares of MGM Growth Properties from a hold rating to a buy rating and lifted their price objective for the stock from $30.00 to $32.00 in a research report on Wednesday, January 9th. Deutsche Bank reaffirmed a hold rating and issued a $28.00 price objective on shares of MGM Growth Properties in a research report on Monday, January 28th. Robert W. Baird assumed coverage on shares of MGM Growth Properties in a research report on Friday, January 4th. They issued an outperform rating and a $33.00 price objective on the stock. Zacks Investment Research lowered shares of MGM Growth Properties from a buy rating to a hold rating in a research report on Saturday, February 16th. Finally, Nomura set a $37.00 price objective on shares of MGM Growth Properties and gave the stock a buy rating in a research report on Friday, March 8th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of Buy and an average price target of $32.10.
MGP opened at $30.58 on Wednesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.99 and a current ratio of 0.99. MGM Growth Properties has a fifty-two week low of $25.50 and a fifty-two week high of $31.61. The stock has a market cap of $2.69 billion, a P/E ratio of 13.71, a PEG ratio of 3.68 and a beta of 0.52.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be paid a $0.465 dividend. This is an increase from MGM Growth Properties’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, March 28th. This represents a $1.86 annualized dividend and a dividend yield of 6.08%. MGM Growth Properties’s dividend payout ratio (DPR) is presently 80.27%.
Institutional investors and hedge funds have recently bought and sold shares of the company. Essex Investment Management Co. LLC purchased a new position in shares of MGM Growth Properties in the fourth quarter worth about $26,000. Legal & General Group Plc grew its stake in MGM Growth Properties by 308.7% during the fourth quarter. Legal & General Group Plc now owns 2,076 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 1,568 shares in the last quarter. Quantbot Technologies LP purchased a new position in MGM Growth Properties during the third quarter valued at approximately $115,000. Synovus Financial Corp grew its stake in MGM Growth Properties by 28.9% during the fourth quarter. Synovus Financial Corp now owns 4,370 shares of the financial services provider’s stock valued at $115,000 after acquiring an additional 979 shares in the last quarter. Finally, Quantamental Technologies LLC purchased a new position in MGM Growth Properties during the fourth quarter valued at approximately $129,000. Hedge funds and other institutional investors own 80.70% of the company’s stock.
MGM Growth Properties Company Profile
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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