Shares of MGM Growth Properties LLC (NYSE:MGP) have earned an average recommendation of “Buy” from the eleven analysts that are covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $32.13.

A number of research firms have recently weighed in on MGP. Citigroup raised MGM Growth Properties from a “neutral” rating to a “buy” rating in a research report on Wednesday, August 8th. Morgan Stanley lifted their target price on MGM Growth Properties from $29.00 to $32.00 and gave the company a “hold” rating in a research note on Tuesday, July 24th. Zacks Investment Research downgraded MGM Growth Properties from a “buy” rating to a “hold” rating in a research note on Saturday, August 11th. Credit Suisse Group initiated coverage on MGM Growth Properties in a research note on Tuesday, August 14th. They set a “neutral” rating and a $31.00 target price on the stock. Finally, Barclays lifted their target price on MGM Growth Properties from $33.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, July 12th.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. KBC Group NV increased its stake in MGM Growth Properties by 17.8% in the 1st quarter. KBC Group NV now owns 12,520 shares of the financial services provider’s stock worth $332,000 after acquiring an additional 1,896 shares during the last quarter. Xact Kapitalforvaltning AB increased its stake in MGM Growth Properties by 29.6% in the 1st quarter. Xact Kapitalforvaltning AB now owns 9,195 shares of the financial services provider’s stock worth $244,000 after acquiring an additional 2,100 shares during the last quarter. Usca Ria LLC increased its stake in MGM Growth Properties by 28.3% in the 2nd quarter. Usca Ria LLC now owns 11,121 shares of the financial services provider’s stock worth $339,000 after acquiring an additional 2,453 shares during the last quarter. Pendal Group Ltd increased its stake in MGM Growth Properties by 5.6% in the 2nd quarter. Pendal Group Ltd now owns 47,660 shares of the financial services provider’s stock worth $1,452,000 after acquiring an additional 2,528 shares during the last quarter. Finally, First Republic Investment Management Inc. increased its stake in MGM Growth Properties by 10.2% in the 2nd quarter. First Republic Investment Management Inc. now owns 29,220 shares of the financial services provider’s stock worth $890,000 after acquiring an additional 2,707 shares during the last quarter.

Shares of MGP stock traded up $0.38 during trading hours on Wednesday, reaching $30.04. 26,922 shares of the company traded hands, compared to its average volume of 557,759. MGM Growth Properties has a 12-month low of $25.31 and a 12-month high of $31.61. The company has a quick ratio of 8.43, a current ratio of 8.43 and a debt-to-equity ratio of 0.66. The stock has a market cap of $2.09 billion, a P/E ratio of 14.96, a PEG ratio of 1.43 and a beta of -0.45.

MGM Growth Properties (NYSE:MGP) last posted its quarterly earnings data on Tuesday, August 7th. The financial services provider reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.33). MGM Growth Properties had a net margin of 5.85% and a return on equity of 0.81%. The company had revenue of $220.40 million for the quarter, compared to analysts’ expectations of $218.17 million. During the same period in the previous year, the firm earned $0.50 earnings per share. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. equities research analysts expect that MGM Growth Properties will post 2.13 earnings per share for the current fiscal year.

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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