Brokerages Set MGM Growth Properties LLC (NYSE:MGP) Price Target at $38.60

Shares of MGM Growth Properties LLC (NYSE:MGP) have earned an average rating of “Hold” from the fifteen ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $38.60.

MGP has been the subject of a number of recent research reports. Truist cut MGM Growth Properties from a “buy” rating to a “hold” rating in a research report on Monday, August 9th. UBS Group cut MGM Growth Properties from a “buy” rating to a “neutral” rating and set a $43.00 price objective for the company. in a research report on Friday, September 17th. Truist Securities cut MGM Growth Properties from a “buy” rating to a “hold” rating in a research report on Monday, August 9th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $43.00 price target on shares of MGM Growth Properties in a report on Friday, August 6th. Finally, Zacks Investment Research upgraded MGM Growth Properties from a “sell” rating to a “hold” rating in a report on Thursday, October 7th.

MGM Growth Properties stock traded up $0.32 during midday trading on Monday, reaching $40.41. 8,449 shares of the company were exchanged, compared to its average volume of 742,621. The company has a market capitalization of $6.33 billion, a price-to-earnings ratio of 29.26, a P/E/G ratio of 2.63 and a beta of 0.82. The firm’s 50-day simple moving average is $40.29 and its 200-day simple moving average is $37.43. MGM Growth Properties has a 1 year low of $25.83 and a 1 year high of $43.19. The company has a debt-to-equity ratio of 0.81, a quick ratio of 8.05 and a current ratio of 8.05.

MGM Growth Properties (NYSE:MGP) last posted its quarterly earnings data on Friday, August 6th. The financial services provider reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.37). The company had revenue of $194.30 million for the quarter, compared to analysts’ expectations of $197.44 million. MGM Growth Properties had a return on equity of 3.65% and a net margin of 24.23%. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.56 EPS. On average, analysts forecast that MGM Growth Properties will post 2.54 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Thursday, September 30th will be paid a $0.52 dividend. This is a positive change from MGM Growth Properties’s previous quarterly dividend of $0.52. This represents a $2.08 annualized dividend and a dividend yield of 5.15%. The ex-dividend date is Wednesday, September 29th. MGM Growth Properties’s payout ratio is currently 92.04%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arete Wealth Advisors LLC lifted its stake in shares of MGM Growth Properties by 4.1% in the 2nd quarter. Arete Wealth Advisors LLC now owns 8,659 shares of the financial services provider’s stock valued at $317,000 after purchasing an additional 345 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its position in MGM Growth Properties by 6.2% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 6,915 shares of the financial services provider’s stock worth $253,000 after acquiring an additional 401 shares in the last quarter. Intersect Capital LLC boosted its holdings in MGM Growth Properties by 2.1% in the 2nd quarter. Intersect Capital LLC now owns 20,510 shares of the financial services provider’s stock worth $751,000 after acquiring an additional 416 shares during the period. Lazard Asset Management LLC grew its position in MGM Growth Properties by 3.5% in the second quarter. Lazard Asset Management LLC now owns 17,023 shares of the financial services provider’s stock valued at $623,000 after acquiring an additional 582 shares in the last quarter. Finally, The PNC Financial Services Group Inc. raised its stake in shares of MGM Growth Properties by 405.9% during the first quarter. The PNC Financial Services Group Inc. now owns 855 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 686 shares during the period. 92.02% of the stock is currently owned by institutional investors and hedge funds.

MGM Growth Properties Company Profile

MGM Growth Properties LLC operates as real estate investment trust, which engages in the acquisition, ownership, and leasing of destination entertainment and leisure resorts. It diverse amenities include casino gaming, hotel, convention, dining, entertainment, and retail offerings. The company was founded on October 23, 2015 and is headquartered in Las Vegas, NV.

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Analyst Recommendations for MGM Growth Properties (NYSE:MGP)

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