MGM Growth Properties (NYSE:MGP) Price Target Increased to $33.00 by Analysts at Credit Suisse Group

MGM Growth Properties (NYSE:MGP) had its target price upped by Credit Suisse Group from $32.00 to $33.00 in a research report sent to investors on Wednesday morning, Stock Target Advisor reports. They currently have a neutral rating on the financial services provider’s stock.

Other research analysts have also recently issued reports about the company. Deutsche Bank reaffirmed a hold rating and set a $32.00 price objective on shares of MGM Growth Properties in a research report on Wednesday. Evercore ISI set a $38.00 price objective on MGM Growth Properties and gave the stock a buy rating in a research report on Wednesday, August 7th. ValuEngine cut MGM Growth Properties from a hold rating to a sell rating in a research report on Saturday, October 5th. Zacks Investment Research raised MGM Growth Properties from a hold rating to a buy rating and set a $35.00 price objective for the company in a research report on Friday, November 1st. Finally, Nomura reaffirmed a buy rating and set a $39.00 price objective on shares of MGM Growth Properties in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. MGM Growth Properties currently has a consensus rating of Buy and an average target price of $34.80.

NYSE:MGP traded up $0.02 on Wednesday, reaching $31.40. The company’s stock had a trading volume of 1,904,939 shares, compared to its average volume of 784,740. MGM Growth Properties has a 1-year low of $25.50 and a 1-year high of $33.30. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.62 and a current ratio of 0.62. The firm has a market cap of $2.93 billion, a PE ratio of 14.08, a PEG ratio of 4.03 and a beta of 0.48. The business’s 50-day moving average price is $30.68 and its two-hundred day moving average price is $30.72.

MGM Growth Properties (NYSE:MGP) last posted its earnings results on Tuesday, November 5th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.35). MGM Growth Properties had a net margin of 8.24% and a return on equity of 1.31%. The business had revenue of $226.01 million during the quarter, compared to analyst estimates of $227.29 million. During the same period in the previous year, the firm posted $0.49 earnings per share. The firm’s revenue was up 4.3% on a year-over-year basis. As a group, sell-side analysts expect that MGM Growth Properties will post 2.26 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.47 per share. This is a boost from MGM Growth Properties’s previous quarterly dividend of $0.47. This represents a $1.88 annualized dividend and a dividend yield of 5.99%. The ex-dividend date of this dividend was Friday, September 27th. MGM Growth Properties’s dividend payout ratio is currently 84.30%.

Hedge funds have recently bought and sold shares of the company. Nuveen Asset Management LLC raised its holdings in MGM Growth Properties by 116.8% during the second quarter. Nuveen Asset Management LLC now owns 5,262,922 shares of the financial services provider’s stock worth $161,309,000 after acquiring an additional 2,835,427 shares in the last quarter. Janus Henderson Group PLC raised its holdings in MGM Growth Properties by 50.0% during the second quarter. Janus Henderson Group PLC now owns 4,814,207 shares of the financial services provider’s stock worth $147,552,000 after acquiring an additional 1,605,007 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in MGM Growth Properties by 48.0% during the second quarter. JPMorgan Chase & Co. now owns 3,191,929 shares of the financial services provider’s stock worth $96,811,000 after acquiring an additional 1,034,932 shares in the last quarter. Centersquare Investment Management LLC bought a new stake in MGM Growth Properties during the second quarter worth about $25,496,000. Finally, Echo Street Capital Management LLC raised its holdings in MGM Growth Properties by 25.8% during the second quarter. Echo Street Capital Management LLC now owns 1,738,720 shares of the financial services provider’s stock worth $53,292,000 after acquiring an additional 356,904 shares in the last quarter. 97.36% of the stock is owned by 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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Analyst Recommendations for MGM Growth Properties (NYSE:MGP)

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