MGM Growth Properties LLC (NYSE:MGP) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Monday.

A number of other equities analysts have also recently issued reports on MGP. Zacks Investment Research cut shares of MGM Growth Properties from a “buy” rating to a “hold” rating in a research report on Thursday, June 8th. Ladenburg Thalmann Financial Services began coverage on shares of MGM Growth Properties in a research report on Friday, June 2nd. They set a “buy” rating and a $32.00 price objective on the stock. Finally, Deutsche Bank AG reissued a “hold” rating on shares of MGM Growth Properties in a research report on Monday, March 6th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $29.00.

MGM Growth Properties (MGP) traded up 0.44% during mid-day trading on Monday, hitting $29.51. The company’s stock had a trading volume of 123,209 shares. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 40.93 and a beta of -1.35. The firm has a 50 day moving average of $28.26 and a 200-day moving average of $26.53. MGM Growth Properties has a 52-week low of $23.63 and a 52-week high of $29.64.

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 (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.48 by $0.28. The company had revenue of $183.90 million for the quarter, compared to the consensus estimate of $180.80 million. MGM Growth Properties had a return on equity of 2.67% and a net margin of 22.29%. On average, equities research analysts expect that MGM Growth Properties will post $0.88 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be given a $0.395 dividend. This is a boost from MGM Growth Properties’s previous quarterly dividend of $0.39. The ex-dividend date is Wednesday, June 28th. This represents a $1.58 annualized dividend and a yield of 5.38%. MGM Growth Properties’s dividend payout ratio (DPR) is presently 140.91%.

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In other MGM Growth Properties news, Director Robert W. Smith purchased 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The shares were acquired at an average price of $27.87 per share, with a total value of $55,740.00. Following the transaction, the director now owns 2,000 shares in the company, valued at $55,740. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.60% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of MGM Growth Properties by 2.0% in the first quarter. Vanguard Group Inc. now owns 4,548,696 shares of the financial services provider’s stock valued at $123,042,000 after buying an additional 88,687 shares during the last quarter. American Century Companies Inc. boosted its position in shares of MGM Growth Properties by 18.6% in the first quarter. American Century Companies Inc. now owns 3,319,942 shares of the financial services provider’s stock valued at $89,804,000 after buying an additional 519,494 shares during the last quarter. Brookfield Asset Management Inc. boosted its position in shares of MGM Growth Properties by 20.7% in the fourth quarter. Brookfield Asset Management Inc. now owns 3,235,681 shares of the financial services provider’s stock valued at $81,895,000 after buying an additional 555,890 shares during the last quarter. Teachers Advisors LLC boosted its position in shares of MGM Growth Properties by 14.2% in the first quarter. Teachers Advisors LLC now owns 1,535,861 shares of the financial services provider’s stock valued at $41,545,000 after buying an additional 190,462 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of MGM Growth Properties by 146.9% in the first quarter. Victory Capital Management Inc. now owns 793,840 shares of the financial services provider’s stock valued at $21,473,000 after buying an additional 472,340 shares during the last quarter. 95.45% of the stock is currently owned by institutional investors and hedge funds.

About MGM Growth Properties

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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Analyst Recommendations for MGM Growth Properties (NYSE:MGP)

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