Wall Street brokerages predict that MGM Growth Properties LLC (NYSE:MGP) will report sales of $241.94 million for the current fiscal quarter, Zacks reports. Four analysts have made estimates for MGM Growth Properties’ earnings. The highest sales estimate is $264.51 million and the lowest is $232.59 million. MGM Growth Properties posted sales of $220.39 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 9.8%. The business is expected to report its next earnings report on Tuesday, August 6th.
According to Zacks, analysts expect that MGM Growth Properties will report full year sales of $1.00 billion for the current fiscal year, with estimates ranging from $964.16 million to $1.11 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $1.01 billion, with estimates ranging from $923.59 million to $1.25 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover MGM Growth Properties.
MGM Growth Properties (NYSE:MGP) last issued its earnings results on Tuesday, April 30th. The financial services provider reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.34). The company had revenue of $271.30 million for the quarter, compared to analysts’ expectations of $283.07 million. MGM Growth Properties had a return on equity of 1.20% and a net margin of 6.73%. The business’s revenue was up 25.7% compared to the same quarter last year. During the same period last year, the business posted $0.49 earnings per share.
Shares of NYSE:MGP opened at $31.33 on Friday. The company has a market cap of $2.75 billion, a PE ratio of 14.05, a P/E/G ratio of 2.48 and a beta of 0.51. MGM Growth Properties has a one year low of $25.50 and a one year high of $33.30. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.99 and a current ratio of 0.99.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a dividend of $0.465 per share. This represents a $1.86 annualized dividend and a yield of 5.94%. This is a positive change from MGM Growth Properties’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, March 28th. MGM Growth Properties’s dividend payout ratio (DPR) is presently 83.41%.
A number of hedge funds have recently modified their holdings of MGP. BlackRock Inc. increased its holdings in MGM Growth Properties by 7.3% during the third quarter. BlackRock Inc. now owns 318,487 shares of the financial services provider’s stock valued at $9,392,000 after buying an additional 21,603 shares during the period. JPMorgan Chase & Co. increased its holdings 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 buying an additional 338,002 shares during the period. Man Group plc purchased a new position in MGM Growth Properties during the third quarter valued at approximately $324,000. Morgan Stanley increased its holdings in MGM Growth Properties by 33.0% during the third quarter. Morgan Stanley now owns 325,239 shares of the financial services provider’s stock valued at $9,591,000 after buying an additional 80,615 shares during the period. Finally, Vanguard Group Inc. increased its holdings in MGM Growth Properties by 1.4% during the third quarter. Vanguard Group Inc. now owns 4,568,903 shares of the financial services provider’s stock valued at $134,737,000 after buying an additional 63,573 shares during the period. 82.04% of the stock is currently owned by institutional investors.
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.
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