MGM Growth Properties (NYSE:MGP) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of MGM Growth Properties (NYSE:MGPGet Rating) in a research note issued to investors on Friday. The firm set a “hold” rating on the financial services provider’s stock.

Separately, Zacks Investment Research upgraded MGM Growth Properties from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a report on Wednesday, April 20th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $43.60.

Shares of NYSE:MGP opened at $41.64 on Friday. The company has a market cap of $6.53 billion, a P/E ratio of 30.39, a P/E/G ratio of 2.74 and a beta of 0.89. The company has a quick ratio of 14.96, a current ratio of 14.96 and a debt-to-equity ratio of 0.78. MGM Growth Properties has a 52 week low of $33.43 and a 52 week high of $43.19. The business has a fifty day simple moving average of $40.57 and a 200-day simple moving average of $39.02.

MGM Growth Properties (NYSE:MGPGet Rating) last issued its earnings results on Thursday, April 21st. The financial services provider reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.09. MGM Growth Properties had a return on equity of 4.10% and a net margin of 27.27%. The firm had revenue of $201.90 million for the quarter, compared to analysts’ expectations of $201.52 million. During the same quarter last year, the firm earned $0.60 earnings per share. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. Sell-side analysts expect that MGM Growth Properties will post 2.47 earnings per share for the current fiscal year.

In other MGM Growth Properties news, CFO Andy H. Chien sold 8,000 shares of the business’s stock in a transaction dated Wednesday, March 9th. The stock was sold at an average price of $37.54, for a total transaction of $300,320.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.41% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the business. Toroso Investments LLC increased its position in shares of MGM Growth Properties by 30.9% during the first quarter. Toroso Investments LLC now owns 12,325 shares of the financial services provider’s stock worth $477,000 after acquiring an additional 2,907 shares during the last quarter. Capital World Investors increased its position in shares of MGM Growth Properties by 3.3% during the first quarter. Capital World Investors now owns 11,425,000 shares of the financial services provider’s stock worth $442,148,000 after acquiring an additional 360,000 shares during the last quarter. Gabelli Funds LLC increased its position in shares of MGM Growth Properties by 1.4% during the first quarter. Gabelli Funds LLC now owns 144,400 shares of the financial services provider’s stock worth $5,588,000 after acquiring an additional 2,000 shares during the last quarter. Gamco Investors INC. ET AL increased its position in shares of MGM Growth Properties by 3.9% during the first quarter. Gamco Investors INC. ET AL now owns 32,444 shares of the financial services provider’s stock worth $1,256,000 after acquiring an additional 1,208 shares during the last quarter. Finally, Virtu Financial LLC increased its position in shares of MGM Growth Properties by 97.2% during the first quarter. Virtu Financial LLC now owns 34,489 shares of the financial services provider’s stock worth $1,335,000 after acquiring an additional 16,998 shares during the last quarter. Institutional investors own 89.36% of the company’s stock.

MGM Growth Properties Company Profile (Get Rating)

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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