MGM Growth Properties LLC (MGP) Given Average Rating of “Buy” by Brokerages
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.
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.
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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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