Analysts forecast that MGM Growth Properties LLC (NYSE:MGP) will report $0.41 earnings per share for the current quarter, according to Zacks. Three analysts have issued estimates for MGM Growth Properties’ earnings. The highest EPS estimate is $0.50 and the lowest is $0.21. MGM Growth Properties posted earnings per share of $0.18 in the same quarter last year, which suggests a positive year-over-year growth rate of 127.8%. The business is expected to issue its next quarterly earnings report before the market opens on Wednesday, November 8th.

On average, analysts expect that MGM Growth Properties will report full year earnings of $1.67 per share for the current financial year, with EPS estimates ranging from $0.80 to $2.00. For the next year, analysts expect that the firm will post earnings of $1.83 per share, with EPS estimates ranging from $0.96 to $2.18. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for MGM Growth Properties.

MGM Growth Properties (NYSE:MGP) last released its earnings results on Tuesday, August 8th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.32). The firm had revenue of $184.45 million during the quarter, compared to the consensus estimate of $184.43 million. MGM Growth Properties had a return on equity of 3.25% and a net margin of 23.79%. MGM Growth Properties’s revenue was up 66.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.32 EPS.

Several brokerages have weighed in on MGP. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $30.00 target price on shares of MGM Growth Properties in a research note on Tuesday, October 24th. Morgan Stanley raised their target price on shares of MGM Growth Properties from $30.00 to $31.00 and gave the company an “equal weight” rating in a report on Tuesday, October 24th. Zacks Investment Research cut shares of MGM Growth Properties from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. Bank of America Corporation reaffirmed a “buy” rating and issued a $34.00 target price (up previously from $32.00) on shares of MGM Growth Properties in a report on Friday, September 8th. Finally, UBS AG reissued a “buy” rating and set a $33.00 price objective (up previously from $30.00) on shares of MGM Growth Properties in a report on Wednesday, September 6th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. MGM Growth Properties has an average rating of “Buy” and an average price target of $31.56.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Capital Research Global Investors grew its position in shares of MGM Growth Properties by 5.6% during the second quarter. Capital Research Global Investors now owns 5,318,749 shares of the financial services provider’s stock worth $155,254,000 after acquiring an additional 282,500 shares during the last quarter. Vanguard Group Inc. grew its position in shares of MGM Growth Properties by 2.0% during the first quarter. Vanguard Group Inc. now owns 4,548,696 shares of the financial services provider’s stock worth $123,042,000 after acquiring an additional 88,687 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of MGM Growth Properties by 973.9% during the second quarter. Janus Henderson Group PLC now owns 4,133,371 shares of the financial services provider’s stock worth $120,650,000 after acquiring an additional 3,748,466 shares during the last quarter. American Century Companies Inc. grew its position in shares of MGM Growth Properties by 16.3% during the second quarter. American Century Companies Inc. now owns 3,862,500 shares of the financial services provider’s stock worth $112,746,000 after acquiring an additional 542,558 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of MGM Growth Properties by 1,350.2% during the second quarter. JPMorgan Chase & Co. now owns 2,209,769 shares of the financial services provider’s stock worth $64,503,000 after acquiring an additional 2,057,390 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

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MGM Growth Properties (NYSE MGP) traded down 0.41% during midday trading on Monday, hitting $29.33. 90,337 shares of the stock traded hands. The firm has a market cap of $1.69 billion, a PE ratio of 37.60 and a beta of -1.34. The stock has a 50-day moving average of $30.10 and a 200 day moving average of $29.27. MGM Growth Properties has a 52-week low of $23.63 and a 52-week high of $31.83.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 29th were given a dividend of $0.395 per share. The ex-dividend date was Thursday, September 28th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 5.37%. MGM Growth Properties’s dividend payout ratio (DPR) is presently 205.20%.

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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Earnings History and Estimates for MGM Growth Properties (NYSE:MGP)

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