Evercore ISI reiterated their buy rating on shares of MGM Growth Properties (NYSE:MGP) in a report published on Monday, AnalystRatings.com reports. They currently have a $37.00 price objective on the financial services provider’s stock.

A number of other equities research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of MGM Growth Properties from a buy rating to a hold rating in a report on Friday, November 8th. ValuEngine lowered shares of MGM Growth Properties from a hold rating to a sell rating in a report on Saturday, October 5th. Nomura restated a buy rating and set a $39.00 price target on shares of MGM Growth Properties in a report on Thursday, August 8th. Macquarie started coverage on shares of MGM Growth Properties in a report on Thursday, October 24th. They set an outperform rating and a $35.00 price target on the stock. Finally, Deutsche Bank restated a hold rating and set a $32.00 price target on shares of MGM Growth Properties in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $34.70.

Shares of MGP stock traded up $0.59 during trading hours on Monday, reaching $32.70. 744,146 shares of the stock traded hands, compared to its average volume of 782,003. MGM Growth Properties has a 1-year low of $25.50 and a 1-year high of $33.30. The business has a fifty day moving average price of $30.77 and a 200 day moving average price of $30.71. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $3.05 billion, a PE ratio of 14.66, a PEG ratio of 4.06 and a beta of 0.48.

MGM Growth Properties (NYSE:MGP) last released its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 firm had revenue of $226.01 million for the quarter, compared to analyst estimates of $227.29 million. During the same quarter in the prior year, the firm earned $0.49 EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. Research analysts expect that MGM Growth Properties will post 2.26 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Friday, September 27th. This is an increase from MGM Growth Properties’s previous quarterly dividend of $0.47. This represents a $1.88 dividend on an annualized basis and a yield of 5.75%. MGM Growth Properties’s payout ratio is presently 84.30%.

A number of institutional investors and hedge funds have recently made changes to their positions in MGP. Nuveen Asset Management LLC grew its position 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 valued at $161,309,000 after purchasing an additional 2,835,427 shares in the last quarter. Janus Henderson Group PLC grew its position 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 valued at $147,552,000 after purchasing an additional 1,605,007 shares in the last quarter. JPMorgan Chase & Co. grew its position 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 valued at $96,811,000 after purchasing an additional 1,034,932 shares in the last quarter. Centersquare Investment Management LLC purchased a new position in MGM Growth Properties during the second quarter valued at approximately $25,496,000. Finally, Echo Street Capital Management LLC grew its position 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 valued at $53,292,000 after purchasing an additional 356,904 shares in the last quarter. 96.91% of the stock is currently owned by hedge funds and other 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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