MGM Growth Properties’ (MGP) Neutral Rating Reiterated at Credit Suisse Group

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.

MGM Growth Properties (NYSE:MGP) last released its quarterly earnings results on Thursday, February 14th. The financial services provider reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.33). MGM Growth Properties had a net margin of 6.69% and a return on equity of 1.13%. The firm had revenue of $284.00 million for the quarter, compared to the consensus estimate of $283.16 million. During the same period in the previous year, the business earned $0.52 earnings per share. The firm’s revenue for the quarter was up 32.4% on a year-over-year basis. Equities research analysts predict that MGM Growth Properties will post 2.23 EPS for the current fiscal year.

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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Analyst Recommendations for MGM Growth Properties (NYSE:MGP)

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