MGM Growth Properties LLC (NYSE:MGP) Given Average Recommendation of “Buy” by Analysts

MGM Growth Properties LLC (NYSE:MGP) has earned an average rating of “Buy” from the thirteen analysts that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $34.67.

Several research firms have recently commented on MGP. Nomura reissued a “buy” rating and set a $39.00 target price on shares of MGM Growth Properties in a research report on Thursday, August 8th. Evercore ISI reissued a “buy” rating and set a $37.00 target price on shares of MGM Growth Properties in a research report on Monday, November 11th. Zacks Investment Research downgraded shares of MGM Growth Properties from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Macquarie began coverage on shares of 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, ValuEngine downgraded shares of MGM Growth Properties from a “hold” rating to a “sell” rating in a research report on Saturday, October 5th.

MGP remained flat at $$32.70 during midday trading on Monday. 1,146,487 shares of the company’s stock traded hands, compared to its average volume of 744,231. MGM Growth Properties has a 12-month low of $25.50 and a 12-month high of $33.30. 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 stock has a market cap of $3.08 billion, a P/E ratio of 14.66, a price-to-earnings-growth ratio of 4.10 and a beta of 0.48. The stock’s 50 day simple moving average is $30.80 and its 200 day simple moving average is $30.70.

MGM Growth Properties (NYSE:MGP) last posted its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.35). The company had revenue of $226.01 million during the quarter, compared to the consensus estimate of $227.29 million. MGM Growth Properties had a net margin of 8.24% and a return on equity of 1.31%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the firm posted $0.49 earnings per share. Sell-side analysts forecast that MGM Growth Properties will post 2.26 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. River & Mercantile Asset Management LLP purchased a new position in MGM Growth Properties in the second quarter valued at about $31,000. Duncker Streett & Co. Inc. purchased a new position in MGM Growth Properties in the second quarter valued at about $37,000. Aperio Group LLC purchased a new position in MGM Growth Properties in the second quarter valued at about $89,000. Redhawk Wealth Advisors Inc. purchased a new position in MGM Growth Properties in the second quarter valued at about $90,000. Finally, Tower Research Capital LLC TRC purchased a new position in MGM Growth Properties in the second quarter valued at about $125,000. Hedge funds and other institutional investors own 96.91% of the company’s stock.

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.

Recommended Story: What is the QQQ ETF?

Analyst Recommendations for MGM Growth Properties (NYSE:MGP)

Receive News & Ratings for MGM Growth Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGM Growth Properties and related companies with MarketBeat.com's FREE daily email newsletter.