Shares of MGM Growth Properties LLC (NYSE:MGP) have earned an average rating of “Buy” from the nine analysts that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $32.00.

Several research analysts recently weighed in on MGP shares. Zacks Investment Research upgraded shares of MGM Growth Properties from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research report on Thursday, September 7th. Bank of America restated a “buy” rating and set a $34.00 price target (up previously from $32.00) on shares of MGM Growth Properties in a research report on Friday, September 8th. Morgan Stanley upped their price target on shares of MGM Growth Properties from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 24th. SunTrust Banks restated a “buy” rating and set a $30.00 price target on shares of MGM Growth Properties in a research report on Tuesday, October 24th. Finally, ValuEngine upgraded shares of MGM Growth Properties from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th.

In related news, Director Robert W. Smith purchased 1,500 shares of MGM Growth Properties stock in a transaction that occurred on Monday, November 20th. The stock was purchased at an average price of $29.41 per share, for a total transaction of $44,115.00. Following the transaction, the director now directly owns 5,319 shares in the company, valued at $156,431.79. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.60% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. UBS Asset Management Americas Inc. grew its stake in MGM Growth Properties by 68.9% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 20,770 shares of the financial services provider’s stock valued at $606,000 after acquiring an additional 8,470 shares in the last quarter. Janus Henderson Group PLC grew its stake in MGM Growth Properties by 973.9% during the 2nd quarter. Janus Henderson Group PLC now owns 4,133,371 shares of the financial services provider’s stock valued at $120,650,000 after acquiring an additional 3,748,466 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in MGM Growth Properties during the 2nd quarter valued at about $677,000. Chiron Investment Management LLC purchased a new stake in MGM Growth Properties during the 2nd quarter valued at about $11,994,000. Finally, Prudential Financial Inc. grew its stake in MGM Growth Properties by 9.2% during the 3rd quarter. Prudential Financial Inc. now owns 1,489,029 shares of the financial services provider’s stock valued at $44,984,000 after acquiring an additional 124,965 shares in the last quarter.

MGM Growth Properties (NYSE MGP) opened at $28.54 on Friday. The firm has a market cap of $2,005.67, a PE ratio of 37.07, a price-to-earnings-growth ratio of 0.76 and a beta of -1.43. MGM Growth Properties has a 1 year low of $24.58 and a 1 year high of $31.83. The company has a debt-to-equity ratio of 0.67, a current ratio of 28.86 and a quick ratio of 28.86.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 5.89%. The ex-dividend date is Thursday, December 28th. This is an increase from MGM Growth Properties’s previous quarterly dividend of $0.40. MGM Growth Properties’s dividend payout ratio is 218.18%.

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MGM Growth Properties Company Profile

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)

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