Analysts Set MGM Growth Properties LLC (MGP) Price Target at $32.25

MGM Growth Properties LLC (NYSE:MGP) has received a consensus rating of “Buy” from the twelve research firms that are presently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $32.67.

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of MGM Growth Properties from $32.00 to $36.00 and gave the stock an “overweight” rating in a research note on Tuesday. They noted that the move was a valuation call. Zacks Investment Research cut shares of MGM Growth Properties from a “buy” rating to a “hold” rating in a research note on Saturday, February 16th. Credit Suisse Group reissued a “neutral” rating and issued a $31.00 price objective on shares of MGM Growth Properties in a research note on Wednesday, March 20th. Deutsche Bank reaffirmed a “hold” rating and set a $28.00 target price on shares of MGM Growth Properties in a research note on Monday, January 28th. Finally, Nomura set a $37.00 target price on shares of MGM Growth Properties and gave the company a “buy” rating in a research note on Friday, March 8th.

A number of institutional investors and hedge funds have recently bought and sold shares of MGP. United Services Automobile Association purchased a new position in MGM Growth Properties during the third quarter valued at $20,559,000. Capital Research Global Investors lifted its position in MGM Growth Properties by 8.4% during the third quarter. Capital Research Global Investors now owns 6,913,787 shares of the financial services provider’s stock valued at $203,888,000 after purchasing an additional 533,438 shares during the last quarter. Marshall Wace LLP bought a new position in MGM Growth Properties during the third quarter valued at $12,895,000. JPMorgan Chase & Co. lifted its position in MGM Growth Properties by 294.0% during the third quarter. JPMorgan Chase & Co. now owns 452,967 shares of the financial services provider’s stock valued at $13,358,000 after purchasing an additional 338,002 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in MGM Growth Properties by 8.5% during the fourth quarter. American Century Companies Inc. now owns 4,020,288 shares of the financial services provider’s stock valued at $106,176,000 after purchasing an additional 315,403 shares during the last quarter. 80.89% of the stock is owned by institutional investors.

MGP traded up $0.08 during trading on Friday, hitting $32.47. The company’s stock had a trading volume of 306,360 shares, compared to its average volume of 650,160. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.80. MGM Growth Properties has a one year low of $25.50 and a one year high of $32.55. The company has a market capitalization of $2.83 billion, a PE ratio of 14.56, a PEG ratio of 3.86 and a beta of 0.53.

MGM Growth Properties (NYSE:MGP) last announced its quarterly earnings data on Thursday, February 14th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.33). The firm had revenue of $284.00 million during the quarter, compared to analysts’ expectations of $283.16 million. MGM Growth Properties had a return on equity of 1.13% and a net margin of 6.69%. The business’s revenue for the quarter was up 32.4% on a year-over-year basis. During the same period last year, the company earned $0.52 earnings per share. Equities analysts forecast that MGM Growth Properties will post 2.23 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be paid a dividend of $0.465 per share. This represents a $1.86 annualized dividend and a yield of 5.73%. This is a boost from MGM Growth Properties’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, March 28th. MGM Growth Properties’s dividend payout ratio (DPR) is presently 83.41%.

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.

See Also: Asset Allocation Models, Which is Right For You?

Analyst Recommendations for MGM Growth Properties (NYSE:MGP)

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.