MGM Growth Properties LLC (NYSE:MGP) has earned an average recommendation of “Buy” from the nine brokerages that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $32.00.

Several equities analysts recently commented on MGP shares. Bank of America reissued 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. Zacks Investment Research raised MGM Growth Properties from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a report on Thursday, September 7th. UBS reissued a “buy” rating and issued a $33.00 target price (up previously from $30.00) on shares of MGM Growth Properties in a report on Wednesday, September 6th. SunTrust Banks reissued a “buy” rating and issued a $31.00 target price on shares of MGM Growth Properties in a report on Friday, November 10th. Finally, ValuEngine raised MGM Growth Properties from a “hold” rating to a “buy” rating in a report on Thursday, November 9th.

In other news, Director Robert W. Smith acquired 1,500 shares of the company’s stock in a transaction on Monday, November 20th. The shares were bought at an average price of $29.41 per share, with a total value of $44,115.00. Following the completion of the acquisition, the director now owns 5,319 shares in the company, valued at approximately $156,431.79. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.60% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Capital Research Global Investors boosted its stake 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 buying an additional 282,500 shares during the period. Janus Henderson Group PLC boosted its stake 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 buying an additional 3,748,466 shares during the period. American Century Companies Inc. boosted its stake 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 buying an additional 542,558 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of MGM Growth Properties by 51.0% during the third quarter. JPMorgan Chase & Co. now owns 3,337,717 shares of the financial services provider’s stock worth $100,733,000 after buying an additional 1,127,948 shares during the period. Finally, Alyeska Investment Group L.P. boosted its stake in shares of MGM Growth Properties by 6.8% during the third quarter. Alyeska Investment Group L.P. now owns 2,742,183 shares of the financial services provider’s stock worth $82,841,000 after buying an additional 175,228 shares during the period.

MGM Growth Properties (MGP) opened at $29.05 on Monday. The company has a market capitalization of $2,059.55, a price-to-earnings ratio of 14.75, a P/E/G ratio of 0.86 and a beta of -1.45. The company has a quick ratio of 28.86, a current ratio of 28.86 and a debt-to-equity ratio of 0.67. MGM Growth Properties has a twelve month low of $24.07 and a twelve month high of $31.83.

TRADEMARK VIOLATION WARNING: This report was originally reported by American Banking News and is owned by of American Banking News. If you are accessing this report on another website, it was copied illegally and republished in violation of United States & international trademark & copyright legislation. The original version of this report can be viewed at https://www.americanbankingnews.com/2017/12/11/mgm-growth-properties-llc-mgp-given-average-rating-of-buy-by-brokerages.html.

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.

Analyst Recommendations for MGM Growth Properties (NYSE:MGP)

Receive News & Ratings for MGM Growth Properties LLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGM Growth Properties LLC and related companies with MarketBeat.com's FREE daily email newsletter.