MGM Growth Properties LLC (MGP) Rating Reiterated by SunTrust Banks, Inc.
MGM Growth Properties LLC (NYSE:MGP)‘s stock had its “buy” rating reissued by analysts at SunTrust Banks, Inc. in a research note issued to investors on Tuesday. They presently have a $30.00 target price on the financial services provider’s stock. SunTrust Banks, Inc.’s target price indicates a potential upside of 2.39% from the company’s current price.
A number of other analysts also recently issued reports on MGP. ValuEngine raised shares of MGM Growth Properties from a “hold” rating to a “buy” rating in a report on Monday, June 26th. Deutsche Bank AG increased their price target on shares of MGM Growth Properties from $28.00 to $30.00 and gave the stock a “hold” rating in a report on Wednesday, August 9th. Ladenburg Thalmann Financial Services reissued a “buy” rating on shares of MGM Growth Properties in a report on Thursday, August 10th. Zacks Investment Research raised shares of MGM Growth Properties from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a report on Thursday, August 10th. Finally, Barclays PLC reissued a “buy” rating and set a $33.00 price target on shares of MGM Growth Properties in a report on Friday, August 11th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $31.56.
MGM Growth Properties (NYSE MGP) traded up 0.86% during trading on Tuesday, reaching $29.30. The company’s stock had a trading volume of 1,981,554 shares. The stock’s 50 day moving average is $30.24 and its 200 day moving average is $29.26. MGM Growth Properties has a 12 month low of $23.63 and a 12 month high of $31.83. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 37.56 and a beta of -1.34.
MGM Growth Properties (NYSE:MGP) last announced its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.32). MGM Growth Properties had a return on equity of 0.81% and a net margin of 6.21%. The firm had revenue of $184.45 million for the quarter, compared to analysts’ expectations of $184.43 million. During the same period last year, the company posted $0.32 earnings per share. The business’s quarterly revenue was up 66.3% on a year-over-year basis. On average, equities analysts expect that MGM Growth Properties will post $0.78 EPS for the current fiscal year.
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Institutional investors and hedge funds have recently bought and sold shares of the business. Fifth Third Bancorp purchased a new position in MGM Growth Properties during the first quarter valued at $139,000. Winslow Evans & Crocker Inc. purchased a new position in MGM Growth Properties during the third quarter valued at $177,000. BB&T Securities LLC purchased a new position in MGM Growth Properties during the second quarter valued at $210,000. Bray Capital Advisors purchased a new position in MGM Growth Properties during the second quarter valued at $213,000. Finally, M&R Capital Management Inc. lifted its holdings in MGM Growth Properties by 8.5% during the second quarter. M&R Capital Management Inc. now owns 8,675 shares of the financial services provider’s stock valued at $258,000 after purchasing an additional 680 shares in the last quarter. 86.29% 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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