MGM Growth Properties (NYSE:MGP) Price Target Cut to $31.00

MGM Growth Properties (NYSE:MGP) had its price objective decreased by analysts at Citigroup from $36.00 to $31.00 in a research note issued to investors on Tuesday, BenzingaRatingsTable reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Citigroup‘s price target would suggest a potential upside of 3.09% from the company’s current price.

Several other research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of MGM Growth Properties from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Evercore ISI restated a “buy” rating and set a $37.00 price objective on shares of MGM Growth Properties in a research report on Monday, November 11th. TheStreet upgraded shares of MGM Growth Properties from a “c-” rating to a “b-” rating in a report on Wednesday, October 2nd. ValuEngine raised shares of MGM Growth Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, December 4th. Finally, Macquarie assumed coverage on shares of MGM Growth Properties in a research report on Thursday, October 24th. They issued an “outperform” rating and a $35.00 target price for the company. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. MGM Growth Properties has a consensus rating of “Buy” and an average target price of $34.18.

Shares of NYSE:MGP opened at $30.07 on Tuesday. MGM Growth Properties has a fifty-two week low of $25.50 and a fifty-two week high of $33.30. The business has a 50-day simple moving average of $31.17 and a two-hundred day simple moving average of $30.58. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.58 and a current ratio of 1.58. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 8.25 and a beta of 0.47.

MGM Growth Properties (NYSE:MGP) last posted its earnings results on Tuesday, November 5th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.35). The company had revenue of $226.01 million for 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%. MGM Growth Properties’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.49 EPS. As a group, research analysts predict that MGM Growth Properties will post 2.24 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the business. First Mercantile Trust Co. boosted its holdings in shares of MGM Growth Properties by 6.7% in the third quarter. First Mercantile Trust Co. now owns 7,131 shares of the financial services provider’s stock worth $214,000 after buying an additional 450 shares during the last quarter. First Republic Investment Management Inc. raised its position in MGM Growth Properties by 1.5% in the second quarter. First Republic Investment Management Inc. now owns 31,346 shares of the financial services provider’s stock worth $961,000 after acquiring an additional 455 shares during the period. Comerica Bank raised its position in MGM Growth Properties by 0.3% in the second quarter. Comerica Bank now owns 162,548 shares of the financial services provider’s stock worth $4,883,000 after acquiring an additional 475 shares during the period. Bbva USA Bancshares Inc. boosted its stake in shares of MGM Growth Properties by 1.3% during the 2nd quarter. Bbva USA Bancshares Inc. now owns 47,210 shares of the financial services provider’s stock worth $1,447,000 after acquiring an additional 623 shares during the last quarter. Finally, Chartwell Investment Partners LLC boosted its stake in shares of MGM Growth Properties by 0.4% during the 2nd quarter. Chartwell Investment Partners LLC now owns 184,238 shares of the financial services provider’s stock worth $5,647,000 after acquiring an additional 768 shares during the last quarter. Institutional investors and hedge funds 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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