Standard Life Aberdeen plc raised its holdings in MGM Growth Properties LLC (NYSE:MGP) by 21.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,061,721 shares of the financial services provider’s stock after buying an additional 185,831 shares during the quarter. Standard Life Aberdeen plc owned about 0.93% of MGM Growth Properties worth $32,876,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Wealth Alliance purchased a new position in shares of MGM Growth Properties in the fourth quarter worth about $38,000. Oppenheimer Asset Management Inc. raised its stake in shares of MGM Growth Properties by 7.9% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 10,565 shares of the financial services provider’s stock worth $328,000 after purchasing an additional 775 shares during the last quarter. Cutler Group LP grew its holdings in MGM Growth Properties by 225.0% during the fourth quarter. Cutler Group LP now owns 1,300 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 900 shares during the period. Squarepoint Ops LLC grew its holdings in MGM Growth Properties by 10.1% during the third quarter. Squarepoint Ops LLC now owns 10,681 shares of the financial services provider’s stock worth $321,000 after acquiring an additional 981 shares during the period. Finally, Cubist Systematic Strategies LLC grew its holdings in MGM Growth Properties by 5.6% during the fourth quarter. Cubist Systematic Strategies LLC now owns 29,611 shares of the financial services provider’s stock worth $917,000 after acquiring an additional 1,564 shares during the period. Institutional investors own 90.02% of the company’s stock.
Several analysts recently commented on MGP shares. Barclays reaffirmed a “buy” rating on shares of MGM Growth Properties in a report on Sunday, January 19th. Scotiabank lowered MGM Growth Properties from an “outperform” rating to a “sector perform” rating in a report on Monday, March 16th. ValuEngine raised MGM Growth Properties from a “sell” rating to a “hold” rating in a report on Wednesday, December 4th. Deutsche Bank raised MGM Growth Properties from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a report on Friday, March 13th. Finally, Zacks Investment Research raised MGM Growth Properties from a “hold” rating to a “strong-buy” rating and set a $18.00 target price on the stock in a report on Wednesday, March 18th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $33.22.
Shares of NYSE MGP traded up $1.08 during midday trading on Thursday, hitting $22.36. The stock had a trading volume of 4,484,410 shares, compared to its average volume of 2,225,102. The company has a market capitalization of $2.50 billion, a PE ratio of 23.05, a P/E/G ratio of 1.21 and a beta of 0.58. The stock has a 50 day simple moving average of $27.62 and a 200-day simple moving average of $30.09. MGM Growth Properties LLC has a 1 year low of $11.43 and a 1 year high of $34.37. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.67.
MGM Growth Properties (NYSE:MGP) last released its earnings results on Friday, February 14th. The financial services provider reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.32). The firm had revenue of $225.89 million during 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 1.37%. As a group, analysts expect that MGM Growth Properties LLC will post 2.46 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a dividend of $0.475 per share. This is an increase from MGM Growth Properties’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Monday, March 30th. This represents a $1.90 dividend on an annualized basis and a yield of 8.50%. MGM Growth Properties’s dividend payout ratio (DPR) is presently 80.69%.
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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