MGM Growth Properties LLC (NYSE:MGP) has been given a consensus rating of “Buy” by the twelve analysts that are currently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $33.50.
A number of equities research analysts recently issued reports on MGP shares. Deutsche Bank reissued a “hold” rating and issued a $28.00 price objective on shares of MGM Growth Properties in a report on Monday, January 28th. JPMorgan Chase & Co. upped their price objective on shares of MGM Growth Properties from $32.00 to $36.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. They noted that the move was a valuation call. Credit Suisse Group reissued a “neutral” rating and issued a $31.00 price objective on shares of MGM Growth Properties in a report on Wednesday, March 20th. Nomura set a $37.00 price objective on shares of MGM Growth Properties and gave the company a “buy” rating in a report on Friday, March 8th. Finally, Zacks Investment Research lowered shares of MGM Growth Properties from a “buy” rating to a “hold” rating in a report on Saturday, February 16th.
A number of large investors have recently modified their holdings of MGP. Essex Investment Management Co. LLC acquired a new stake in MGM Growth Properties during the fourth quarter worth approximately $26,000. Cresset Asset Management LLC acquired a new stake in MGM Growth Properties during the first quarter worth approximately $34,000. First Hawaiian Bank acquired a new stake in MGM Growth Properties during the first quarter worth approximately $39,000. Advisory Services Network LLC raised its holdings in MGM Growth Properties by 471.9% during the first 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 in the last quarter. Finally, Cutler Group LP raised its holdings in MGM Growth Properties by 201.8% during the first 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 in the last quarter. 89.42% of the stock is currently owned by hedge funds and other institutional investors.
MGM Growth Properties (NYSE:MGP) last announced its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, missing the Zacks’ 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 firm had revenue of $271.30 million during the quarter, compared to analysts’ expectations of $283.07 million. During the same period in the prior year, the company posted $0.49 EPS. The company’s revenue for the quarter was up 25.7% compared to the same quarter last year. Equities research analysts anticipate that MGM Growth Properties will post 2.28 EPS for the current year.
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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