FY2017 EPS Estimates for MGM Growth Properties LLC Lifted by Analyst (MGP)
MGM Growth Properties LLC (NYSE:MGP) – Investment analysts at SunTrust Banks boosted their FY2017 earnings per share (EPS) estimates for MGM Growth Properties in a report released on Wednesday. SunTrust Banks analyst P. Scholes now anticipates that the financial services provider will post earnings per share of $2.01 for the year, up from their prior forecast of $1.98. SunTrust Banks currently has a “Buy” rating and a $30.00 target price on the stock. SunTrust Banks also issued estimates for MGM Growth Properties’ Q4 2017 earnings at $0.53 EPS, Q1 2018 earnings at $0.54 EPS, Q2 2018 earnings at $0.55 EPS, Q3 2018 earnings at $0.55 EPS, Q4 2018 earnings at $0.55 EPS and FY2018 earnings at $2.18 EPS.
MGM Growth Properties (NYSE:MGP) last issued its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.32). The company 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 0.82% and a net margin of 6.18%. The business’s revenue for the quarter was up 66.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 earnings per share.
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Other equities analysts have also recently issued reports about the company. Barclays PLC reaffirmed a “buy” rating and issued a $33.00 price objective on shares of MGM Growth Properties in a research report on Friday, August 11th. ValuEngine raised MGM Growth Properties from a “hold” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research raised MGM Growth Properties from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research report on Thursday, September 7th. Bank of America Corporation reaffirmed a “buy” rating and issued a $34.00 price objective (up from $32.00) on shares of MGM Growth Properties in a research report on Friday, September 8th. Finally, UBS AG reiterated a “buy” rating and set a $33.00 target price (up from $30.00) on shares of MGM Growth Properties in a research note on Wednesday, September 6th. Three investment 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 an average price target of $31.56.
MGM Growth Properties (MGP) traded down $0.16 during mid-day trading on Friday, reaching $29.48. The company had a trading volume of 220,882 shares, compared to its average volume of 719,271. The company has a market cap of $7,580.00 and a PE ratio of 15.07. MGM Growth Properties has a fifty-two week low of $23.63 and a fifty-two week high of $31.83. The company has a debt-to-equity ratio of 0.65, a current ratio of 14.43 and a quick ratio of 14.43.
Several large investors have recently bought and sold shares of MGP. Janus Henderson Group PLC increased its stake in shares of MGM Growth Properties by 973.9% in the 2nd quarter. Janus Henderson Group PLC now owns 4,133,371 shares of the financial services provider’s stock worth $120,650,000 after purchasing an additional 3,748,466 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in MGM Growth Properties in the 3rd quarter worth $80,532,000. JPMorgan Chase & Co. increased its stake in MGM Growth Properties by 1,350.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,209,769 shares of the financial services provider’s stock worth $64,503,000 after buying an additional 2,057,390 shares in the last quarter. APG Asset Management N.V. purchased a new stake in MGM Growth Properties in the 3rd quarter worth $26,582,000. Finally, Russell Investments Group Ltd. increased its stake in MGM Growth Properties by 778.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 750,219 shares of the financial services provider’s stock worth $21,878,000 after buying an additional 664,860 shares in the last quarter. Hedge funds and other institutional investors own 89.15% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 29th were paid a $0.395 dividend. The ex-dividend date was Thursday, September 28th. This represents a $1.58 annualized dividend and a dividend yield of 5.36%. MGM Growth Properties’s dividend payout ratio (DPR) is 202.56%.
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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