MGM Growth Properties LLC (NYSE:MGP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The firm currently has a $32.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 13.15% from the stock’s previous close.

According to Zacks, “MGM Growth Properties LLC is a real estate investment trust. The company is engaged in the acquisition, ownership and leasing of destination entertainment and leisure resorts which include casino gaming, hotel, convention, dining, entertainment and retail offerings. MGM Growth Properties LLC is based in Las Vegas, Nevada. “

Separately, Deutsche Bank AG reissued a “hold” rating on shares of MGM Growth Properties in a research note on Monday, March 6th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $27.63.

Analyst Recommendations for MGM Growth Properties (NYSE:MGP)

MGM Growth Properties (NYSE:MGP) traded down 0.21% during midday trading on Friday, hitting $28.22. 236,963 shares of the stock were exchanged. MGM Growth Properties has a one year low of $22.45 and a one year high of $28.97. The company has a 50 day moving average price of $27.96 and a 200 day moving average price of $25.92. The firm has a market capitalization of $1.63 billion and a price-to-earnings ratio of 39.14.

MGM Growth Properties (NYSE:MGP) last released its quarterly earnings data on Thursday, April 27th. The financial services provider reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.48 by $0.28. The company had revenue of $183.90 million for the quarter, compared to analyst estimates of $180.80 million. Equities analysts anticipate that MGM Growth Properties will post $0.88 EPS for the current year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Fifth Third Bancorp bought a new position in shares of MGM Growth Properties during the first quarter worth $139,000. Zacks Investment Management bought a new position in shares of MGM Growth Properties during the third quarter worth $205,000. Quantbot Technologies LP bought a new position in shares of MGM Growth Properties during the first quarter worth $207,000. Gerber Kawasaki Wealth & Investment Management bought a new position in shares of MGM Growth Properties during the first quarter worth $219,000. Finally, SG Americas Securities LLC bought a new position in shares of MGM Growth Properties during the first quarter worth $248,000.

MGM Growth Properties Company Profile

MGM Growth Properties LLC is a real estate investment trust engaged in the acquisition, ownership and leasing of destination entertainment and leisure resorts, whose amenities include casino gaming, hotel, convention, dining, entertainment and retail offerings. Its portfolio consists of approximately 10 destination resorts.

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