MGM Stock – MGM Growth Properties LLC (NYSE:MGP) Given Average Rating of “Buy” by Brokerages
MGM Growth Properties LLC (NYSE:MGP) has received a consensus rating of “Buy” from the seventeen ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $33.86.
Several equities analysts have issued reports on MGP shares. Zacks Investment Research cut shares of MGM Growth Properties from a “buy” rating to a “hold” rating in a research note on Thursday, February 4th. Morgan Stanley upped their target price on shares of MGM Growth Properties from $31.00 to $34.00 and gave the company an “equal weight” rating in a research note on Thursday, February 25th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of MGM Growth Properties from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, February 17th. KeyCorp initiated coverage on shares of MGM Growth Properties in a research note on Monday, March 22nd. They issued an “overweight” rating on the stock. Finally, Raymond James increased their price objective on shares of MGM Growth Properties from $36.00 to $38.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 17th.
NYSE:MGP opened at $35.27 on Monday. The firm’s 50-day moving average price is $33.42 and its 200-day moving average price is $31.28. The company has a market capitalization of $5.41 billion, a PE ratio of 71.98 and a beta of 0.76. The company has a debt-to-equity ratio of 0.63, a current ratio of 7.69 and a quick ratio of 7.69. MGM Growth Properties has a 1-year low of $21.00 and a 1-year high of $35.38.
MGM Growth Properties (NYSE:MGP) last released its earnings results on Tuesday, February 16th. The financial services provider reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.27). MGM Growth Properties had a return on equity of 1.15% and a net margin of 7.35%. Equities analysts anticipate that MGM Growth Properties will post 2.27 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, April 15th. Investors of record on Wednesday, March 31st were issued a $0.495 dividend. The ex-dividend date of this dividend was Tuesday, March 30th. This is a positive change from MGM Growth Properties’s previous quarterly dividend of $0.49. This represents a $1.98 dividend on an annualized basis and a dividend yield of 5.61%. MGM Growth Properties’s dividend payout ratio (DPR) is 84.98%.
Several hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC bought a new stake in MGM Growth Properties in the fourth quarter worth $31,000. Advisory Services Network LLC raised its holdings in shares of MGM Growth Properties by 39.4% in the fourth quarter. Advisory Services Network LLC now owns 2,310 shares of the financial services provider’s stock valued at $73,000 after acquiring an additional 653 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in MGM Growth Properties in the fourth quarter valued at about $111,000. SG Americas Securities LLC purchased a new stake in shares of MGM Growth Properties during the fourth quarter worth about $147,000. Finally, Marshall Wace LLP purchased a new stake in MGM Growth Properties in the first quarter valued at approximately $170,000. 83.18% of the stock is owned by hedge funds and other institutional investors.
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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