MGM Growth Properties (NYSE:MGP) Trading Down 5.6%

MGM Growth Properties LLC (NYSE:MGP) traded down 5.6% during mid-day trading on Wednesday . The company traded as low as $29.93 and last traded at $29.98, 2,507,644 shares were traded during mid-day trading. An increase of 118% from the average session volume of 1,148,862 shares. The stock had previously closed at $31.77.

A number of equities analysts recently issued reports on the company. Morgan Stanley assumed coverage on MGM Growth Properties in a report on Wednesday, January 22nd. They issued a “hold” rating and a $35.00 target price on the stock. Citigroup decreased their target price on MGM Growth Properties from $36.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, December 10th. Evercore ISI initiated coverage on MGM Growth Properties in a report on Tuesday, February 18th. They set an “outperform” rating and a $37.00 price target on the stock. Robert W. Baird downgraded MGM Growth Properties from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $39.00 to $33.00 in a report on Wednesday, January 15th. Finally, Zacks Investment Research upgraded MGM Growth Properties from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $34.70.

The company has a debt-to-equity ratio of 0.81, a current ratio of 1.58 and a quick ratio of 1.58. The firm has a market cap of $3.60 billion, a PE ratio of 30.91, a P/E/G ratio of 2.09 and a beta of 0.45. The business has a fifty day moving average price of $32.47 and a two-hundred day moving average price of $31.04.

MGM Growth Properties (NYSE:MGP) last issued its quarterly earnings results on Friday, February 14th. The financial services provider reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.32). The business had revenue of $225.89 million for the quarter, compared to analysts’ expectations of $226.16 million. MGM Growth Properties had a net margin of 9.51% and a return on equity of 1.39%. As a group, sell-side analysts forecast that MGM Growth Properties LLC will post 2.46 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MGP. Capital Research Global Investors boosted its position in MGM Growth Properties by 22.9% during the fourth quarter. Capital Research Global Investors now owns 11,095,001 shares of the financial services provider’s stock valued at $343,612,000 after purchasing an additional 2,068,355 shares during the last quarter. Brookfield Public Securities Group LLC boosted its position in MGM Growth Properties by 29.3% during the fourth quarter. Brookfield Public Securities Group LLC now owns 4,248,131 shares of the financial services provider’s stock valued at $131,565,000 after purchasing an additional 961,845 shares during the last quarter. Schroder Investment Management Group boosted its position in MGM Growth Properties by 1,324.8% during the fourth quarter. Schroder Investment Management Group now owns 860,177 shares of the financial services provider’s stock valued at $26,640,000 after purchasing an additional 799,806 shares during the last quarter. Marshall Wace North America L.P. acquired a new stake in MGM Growth Properties during the fourth quarter valued at $22,998,000. Finally, Point72 Asset Management L.P. acquired a new stake in MGM Growth Properties during the third quarter valued at $15,139,000. 94.13% of the stock is owned by hedge funds and other institutional investors.

MGM Growth Properties Company Profile (NYSE:MGP)

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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