MGM Growth Properties LLC (MGP) Expected to Earn FY2019 Earnings of $2.24 Per Share

MGM Growth Properties LLC (NYSE:MGP) – Equities researchers at SunTrust Banks issued their FY2019 earnings per share estimates for MGM Growth Properties in a research report issued on Monday. SunTrust Banks analyst P. Scholes anticipates that the financial services provider will earn $2.24 per share for the year. SunTrust Banks has a “Buy” rating and a $31.00 price objective on the stock.

MGM Growth Properties (NYSE:MGP) last released its earnings results on Wednesday, November 8th. The financial services provider reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.32). MGM Growth Properties had a net margin of 6.18% and a return on equity of 0.81%.

A number of other analysts also recently weighed in on the company. ValuEngine upgraded MGM Growth Properties from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. Zacks Investment Research upgraded MGM Growth Properties from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research report on Thursday, January 4th. Morgan Stanley upped their target price on MGM Growth Properties from $30.00 to $31.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 24th. Finally, Ladenburg Thalmann Financial Services set a $35.00 target price on MGM Growth Properties and gave the company a “buy” rating in a research report on Wednesday, January 17th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $32.38.

MGM Growth Properties (NYSE MGP) traded down $0.86 during trading hours on Wednesday, hitting $25.81. The stock had a trading volume of 737,617 shares, compared to its average volume of 826,967. The company has a market cap of $1,909.25, a P/E ratio of 34.40, a price-to-earnings-growth ratio of 0.72 and a beta of -1.41. The company has a current ratio of 28.86, a quick ratio of 28.86 and a debt-to-equity ratio of 0.67. MGM Growth Properties has a 1 year low of $25.15 and a 1 year high of $31.83.

Several hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN lifted its position in shares of MGM Growth Properties by 2.6% during the 2nd quarter. Wells Fargo & Company MN now owns 25,389 shares of the financial services provider’s stock worth $741,000 after buying an additional 649 shares during the last quarter. M&R Capital Management Inc. lifted its position in shares of MGM Growth Properties by 8.5% during the 2nd quarter. M&R Capital Management Inc. now owns 8,675 shares of the financial services provider’s stock worth $258,000 after buying an additional 680 shares during the last quarter. Gilman Hill Asset Management LLC lifted its position in shares of MGM Growth Properties by 11.7% during the 3rd quarter. Gilman Hill Asset Management LLC now owns 17,860 shares of the financial services provider’s stock worth $540,000 after buying an additional 1,865 shares during the last quarter. Swiss National Bank lifted its position in shares of MGM Growth Properties by 2.6% during the 4th quarter. Swiss National Bank now owns 116,601 shares of the financial services provider’s stock worth $3,399,000 after buying an additional 3,000 shares during the last quarter. Finally, State Street Corp lifted its position in shares of MGM Growth Properties by 7.3% during the 2nd quarter. State Street Corp now owns 66,740 shares of the financial services provider’s stock worth $1,949,000 after buying an additional 4,522 shares during the last quarter.

In other MGM Growth Properties news, Director Robert W. Smith acquired 1,500 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was acquired at an average cost of $29.41 per share, for a total transaction of $44,115.00. Following the transaction, the director now directly owns 5,319 shares in the company, valued at $156,431.79. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.51%. This is an increase from MGM Growth Properties’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, December 28th. MGM Growth Properties’s dividend payout ratio is presently 218.18%.

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MGM Growth Properties Company Profile

MGM Growth Properties LLC is a real estate investment trust engaged in the acquisition, ownership and leasing of destination entertainment and leisure resorts, whose amenities include casino gaming, hotel, convention, dining, entertainment and retail offerings. Its portfolio consists of approximately 10 destination resorts.

Earnings History and Estimates for MGM Growth Properties (NYSE:MGP)

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