MGM Growth Properties (NYSE:MGP) Rating Increased to Hold at ValuEngine

MGM Growth Properties (NYSE:MGP) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday, ValuEngine reports.

Several other equities research analysts have also commented on MGP. TheStreet upgraded shares of MGM Growth Properties from a “c-” rating to a “b-” rating in a research note on Wednesday, October 2nd. Zacks Investment Research cut MGM Growth Properties from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Deutsche Bank restated a “hold” rating and issued a $32.00 price objective on shares of MGM Growth Properties in a research note on Wednesday, November 6th. Macquarie began coverage on MGM Growth Properties in a research report on Thursday, October 24th. They set an “outperform” rating and a $35.00 target price for the company. Finally, Nomura reaffirmed a “buy” rating and set a $39.00 target price on shares of MGM Growth Properties in a research report on Thursday, August 8th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $34.50.

NYSE MGP opened at $29.86 on Wednesday. The company has a fifty day moving average price of $31.19 and a 200-day moving average price of $30.62. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 8.52 and a beta of 0.47. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.58 and a quick ratio of 1.58. MGM Growth Properties has a 1 year low of $25.50 and a 1 year high of $33.30.

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 for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $227.29 million. During the same period in the previous year, the business earned $0.49 earnings per share. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, research analysts anticipate that MGM Growth Properties will post 2.24 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Nuveen Asset Management LLC lifted its position in shares of MGM Growth Properties by 116.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 5,262,922 shares of the financial services provider’s stock valued at $161,309,000 after buying an additional 2,835,427 shares during the last quarter. Janus Henderson Group PLC raised its stake in MGM Growth Properties by 50.0% in the 2nd quarter. Janus Henderson Group PLC now owns 4,814,207 shares of the financial services provider’s stock valued at $147,552,000 after acquiring an additional 1,605,007 shares during the period. JPMorgan Chase & Co. raised its stake in MGM Growth Properties by 48.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,191,929 shares of the financial services provider’s stock valued at $96,811,000 after acquiring an additional 1,034,932 shares during the period. Echo Street Capital Management LLC lifted its holdings 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 during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in MGM Growth Properties by 43.4% during the second quarter. Renaissance Technologies LLC now owns 949,000 shares of the financial services provider’s stock valued at $29,087,000 after purchasing an additional 287,000 shares during the last quarter. Institutional investors own 95.90% of the company’s stock.

About MGM Growth Properties

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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