MGM Growth Properties LLC (MGP) Director Purchases $11,748.48 in Stock
MGM Growth Properties LLC (NYSE:MGP) Director William Hornbuckle purchased 464 shares of the business’s stock in a transaction dated Monday, October 17th. The shares were purchased at an average cost of $25.32 per share, with a total value of $11,748.48. Following the purchase, the director now directly owns 30,763 shares in the company, valued at $778,919.16. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Shares of MGM Growth Properties LLC (NYSE:MGP) traded down 0.15% on Wednesday, reaching $25.88. 26,271 shares of the company traded hands. MGM Growth Properties LLC has a 52-week low of $21.00 and a 52-week high of $27.89. The firm has a 50-day moving average of $25.49 and a 200-day moving average of $25.06. The company’s market capitalization is $1.49 billion.
MGM Growth Properties (NYSE:MGP) last announced its earnings results on Thursday, August 4th. The company reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by $0.35. The company earned $101.25 million during the quarter, compared to analyst estimates of $110.24 million. On average, equities research analysts forecast that MGM Growth Properties LLC will post $1.29 earnings per share for the current fiscal year.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/19/mgm-growth-properties-llc-mgp-director-purchases-11748-48-in-stock.html
The company also recently announced a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 30th were paid a dividend of $0.387 per share. The ex-dividend date was Wednesday, September 28th. This represents a $1.55 annualized dividend and a yield of 5.97%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. purchased a new position in shares of MGM Growth Properties during the second quarter valued at $63,605,000. CIBC Asset Management Inc purchased a new position in shares of MGM Growth Properties during the second quarter valued at $2,049,000. Fidelity National Financial Inc. purchased a new position in shares of MGM Growth Properties during the second quarter valued at $13,340,000. UBS Asset Management Americas Inc. purchased a new position in shares of MGM Growth Properties during the second quarter valued at $3,907,000. Finally, First Trust Advisors LP purchased a new position in shares of MGM Growth Properties during the second quarter valued at $6,992,000. 97.22% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently issued reports on the company. Zacks Investment Research downgraded MGM Growth Properties from a “strong-buy” rating to a “hold” rating in a research note on Saturday, July 30th. Citigroup Inc. lifted their price target on MGM Growth Properties from $23.00 to $26.00 and gave the stock a “neutral” rating in a research note on Friday, August 5th. Bank of America Corp. reaffirmed a “buy” rating and set a $29.00 price target on shares of MGM Growth Properties in a research note on Friday, August 5th. Morgan Stanley downgraded MGM Growth Properties from an “overweight” rating to an “equal weight” rating and set a $25.00 price target for the company. in a research note on Wednesday, June 22nd. Finally, Deutsche Bank AG reaffirmed a “buy” rating on shares of MGM Growth Properties in a research note on Monday, June 27th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. MGM Growth Properties currently has a consensus rating of “Buy” and an average price target of $26.50.
About MGM Growth Properties
MGM Growth Properties LLC is a real estate investment trust. The Company is a subsidiary of MGM Resorts International, a holding company, which through its subsidiaries, owns and operates casino resorts. The Company is 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.
Receive News & Ratings for MGM Growth Properties LLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGM Growth Properties LLC and related companies with MarketBeat.com's FREE daily email newsletter.