MGM Growth Properties LLC (NYSE:MGP) has received an average recommendation of “Buy” from the eleven research firms that are covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $33.71.
A number of analysts have issued reports on MGP shares. JPMorgan Chase & Co. set a €117.00 ($136.05) price objective on Siemens and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Morgan Stanley lifted their price objective on from GBX 1,430 ($18.69) to GBX 1,560 ($20.38) and gave the stock an “equal weight” rating in a research note on Tuesday, June 11th. TheStreet raised Secureworks from a “d+” rating to a “c-” rating in a research note on Monday, April 22nd. Credit Suisse Group reaffirmed a “neutral” rating and issued a $108.00 price objective on shares of Wynn Resorts in a research note on Wednesday, March 20th. Finally, Zacks Investment Research downgraded ExlService from a “hold” rating to a “sell” rating in a research note on Wednesday.
MGP traded down $0.02 on Tuesday, hitting $30.54. 749,788 shares of the company’s stock traded hands, compared to its average volume of 635,127. The firm has a 50 day simple moving average of $31.07. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of 13.70, a price-to-earnings-growth ratio of 2.37 and a beta of 0.50. MGM Growth Properties has a one year low of $25.50 and a one year high of $33.30. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.79.
MGM Growth Properties (NYSE:MGP) last issued its earnings results on Tuesday, April 30th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.34). MGM Growth Properties had a net margin of 6.73% and a return on equity of 1.16%. The business had revenue of $271.30 million for the quarter, compared to the consensus estimate of $283.07 million. During the same period last year, the business posted $0.49 EPS. The firm’s revenue for the quarter was up 25.7% compared to the same quarter last year. Equities analysts predict that MGM Growth Properties will post 2.27 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a $0.468 dividend. This is a boost from MGM Growth Properties’s previous quarterly dividend of $0.47. The ex-dividend date is Thursday, June 27th. This represents a $1.87 dividend on an annualized basis and a dividend yield of 6.13%. MGM Growth Properties’s payout ratio is 83.86%.
In related news, Director Robert W. Smith bought 2,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was purchased at an average price of $31.14 per share, for a total transaction of $62,280.00. Following the acquisition, the director now owns 8,819 shares in the company, valued at $274,623.66. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 0.49% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in MGP. First Hawaiian Bank purchased a new position in shares of MGM Growth Properties in the 1st quarter worth approximately $39,000. Advisory Services Network LLC boosted its holdings in shares of MGM Growth Properties by 471.9% in the 1st quarter. Advisory Services Network LLC now owns 1,384 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 1,142 shares during the period. Cutler Group LP boosted its holdings in shares of MGM Growth Properties by 201.8% in the 1st quarter. Cutler Group LP now owns 1,509 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 1,009 shares during the period. Legal & General Group Plc boosted its holdings in shares of MGM Growth Properties by 308.7% in the 4th quarter. Legal & General Group Plc now owns 2,076 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 1,568 shares during the period. Finally, NumerixS Investment Technologies Inc boosted its holdings in shares of MGM Growth Properties by 2,400.0% in the 4th quarter. NumerixS Investment Technologies Inc now owns 5,000 shares of the financial services provider’s stock worth $134,000 after purchasing an additional 4,800 shares during the period. Hedge funds and other institutional investors own 99.38% of the company’s stock.
About MGM Growth Properties
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.
Featured Article: What are the qualifications of a portfolio manager?
Receive News & Ratings for MGM Growth Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGM Growth Properties and related companies with MarketBeat.com's FREE daily email newsletter.