Zacks Investment Research downgraded shares of MGM Growth Properties (NYSE:MGP) from a buy rating to a hold rating in a research note published on Saturday.

According to Zacks, “MGM Growth Properties LLC is a real estate investment trust. The company is engaged in the acquisition, ownership and leasing of destination entertainment and leisure resorts which include casino gaming, hotel, convention, dining, entertainment and retail offerings. MGM Growth Properties LLC is based in Las Vegas, Nevada. “

Several other research analysts have also commented on the stock. Morgan Stanley boosted their price objective on shares of MGM Growth Properties from $29.00 to $32.00 and gave the stock a hold rating in a research note on Tuesday, July 24th. Citigroup upgraded shares of MGM Growth Properties from a neutral rating to a buy rating in a research note on Wednesday. Bank of America boosted their price objective on shares of MGM Growth Properties from $30.00 to $32.00 and gave the stock a buy rating in a research note on Tuesday, July 17th. Finally, Barclays boosted their price objective on shares of MGM Growth Properties from $33.00 to $35.00 and gave the stock an overweight rating in a research note on Thursday, July 12th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $32.22.

Shares of NYSE MGP traded down $0.29 during trading hours on Friday, hitting $29.34. 405,213 shares of the stock were exchanged, compared to its average volume of 571,047. The company has a quick ratio of 8.04, a current ratio of 8.43 and a debt-to-equity ratio of 0.66. The firm has a market cap of $2.10 billion, a PE ratio of 14.60, a price-to-earnings-growth ratio of 1.43 and a beta of -0.46. MGM Growth Properties has a 12 month low of $25.31 and a 12 month high of $31.83.

MGM Growth Properties (NYSE:MGP) last posted its quarterly earnings data on Tuesday, August 7th. The financial services provider reported $0.18 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.33). The firm had revenue of $220.40 million for the quarter, compared to the consensus estimate of $218.17 million. MGM Growth Properties had a return on equity of 0.81% and a net margin of 5.85%. The company’s revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.50 EPS. equities research analysts anticipate that MGM Growth Properties will post 2.14 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, July 16th. Shareholders of record on Friday, June 29th were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 5.86%. The ex-dividend date was Thursday, June 28th. This is an increase from MGM Growth Properties’s previous quarterly dividend of $0.42. MGM Growth Properties’s payout ratio is currently 85.57%.

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in MGM Growth Properties by 1.7% during the fourth quarter. BlackRock Inc. now owns 596,733 shares of the financial services provider’s stock worth $17,394,000 after buying an additional 9,773 shares in the last quarter. Xact Kapitalforvaltning AB purchased a new stake in MGM Growth Properties during the fourth quarter worth $207,000. FDx Advisors Inc. boosted its holdings in MGM Growth Properties by 39.0% during the first quarter. FDx Advisors Inc. now owns 16,791 shares of the financial services provider’s stock worth $446,000 after buying an additional 4,711 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in MGM Growth Properties by 12.5% during the first quarter. Wells Fargo & Company MN now owns 530,450 shares of the financial services provider’s stock worth $14,078,000 after buying an additional 59,116 shares in the last quarter. Finally, Wedge Capital Management L L P NC boosted its holdings in MGM Growth Properties by 9.4% during the first quarter. Wedge Capital Management L L P NC now owns 2,503,871 shares of the financial services provider’s stock worth $66,453,000 after buying an additional 214,903 shares in the last quarter. 94.03% of the stock is currently owned by institutional investors and hedge funds.

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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