MGM Growth Properties LLC (NYSE:MGP) Holdings Raised by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC grew its holdings in shares of MGM Growth Properties LLC (NYSE:MGP) by 42.2% during the first quarter, Holdings Channel reports. The firm owned 66,457 shares of the financial services provider’s stock after purchasing an additional 19,728 shares during the period. Exchange Traded Concepts LLC’s holdings in MGM Growth Properties were worth $2,168,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MGP. JPMorgan Chase & Co. raised its holdings in shares of MGM Growth Properties by 317.8% during the 4th quarter. JPMorgan Chase & Co. now owns 1,452,203 shares of the financial services provider’s stock valued at $45,455,000 after purchasing an additional 1,104,642 shares in the last quarter. Kohlberg Kravis Roberts & Co. L.P. increased its stake in MGM Growth Properties by 80.6% in the fourth quarter. Kohlberg Kravis Roberts & Co. L.P. now owns 2,349,597 shares of the financial services provider’s stock valued at $73,542,000 after acquiring an additional 1,048,356 shares during the period. Waterfront Capital Partners LLC acquired a new position in MGM Growth Properties in the fourth quarter valued at about $14,757,000. Federated Hermes Inc. boosted its position in MGM Growth Properties by 17.5% in the fourth quarter. Federated Hermes Inc. now owns 2,550,800 shares of the financial services provider’s stock valued at $79,840,000 after buying an additional 380,000 shares in the last quarter. Finally, Perpetual Ltd acquired a new position in MGM Growth Properties in the third quarter valued at about $7,845,000. Institutional investors and hedge funds own 83.18% of the company’s stock.

Shares of MGP stock opened at $35.21 on Friday. The firm has a market capitalization of $5.40 billion, a PE ratio of 71.86 and a beta of 0.76. The firm has a fifty day simple moving average of $33.66 and a two-hundred day simple moving average of $31.49. The company has a current ratio of 7.69, a quick ratio of 7.69 and a debt-to-equity ratio of 0.63. MGM Growth Properties LLC has a 12 month low of $21.00 and a 12 month high of $35.71.

MGM Growth Properties (NYSE:MGP) last announced its quarterly earnings results on Tuesday, February 16th. The financial services provider reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.27). MGM Growth Properties had a net margin of 7.35% and a return on equity of 1.15%. On average, equities analysts predict that MGM Growth Properties LLC will post 2.27 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 15th. Shareholders of record on Wednesday, March 31st were paid a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a yield of 5.62%. The ex-dividend date of this dividend was Tuesday, March 30th. This is a positive change from MGM Growth Properties’s previous quarterly dividend of $0.49. MGM Growth Properties’s payout ratio is 84.98%.

A number of equities analysts have recently issued reports on MGP shares. Zacks Investment Research lowered shares of MGM Growth Properties from a “buy” rating to a “hold” rating in a research report on Thursday. Morgan Stanley upped their target price on shares of MGM Growth Properties from $31.00 to $34.00 and gave the company an “equal weight” rating in a research note on Thursday, February 25th. KeyCorp began coverage on shares of MGM Growth Properties in a research report on Monday, March 22nd. They set an “overweight” rating for the company. Deutsche Bank Aktiengesellschaft increased their price objective on shares of MGM Growth Properties from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, February 17th. Finally, Raymond James raised their target price on shares of MGM Growth Properties from $36.00 to $38.00 and gave the company an “outperform” rating in a research report on Wednesday, February 17th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. MGM Growth Properties currently has a consensus rating of “Buy” and an average price target of $34.75.

MGM Growth Properties 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.

Further Reading: Market Capitalization

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Institutional Ownership by Quarter for MGM Growth Properties (NYSE:MGP)

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