MGM Growth Properties (NYSE:MGP) has been assigned a $35.00 price objective by analysts at Ladenburg Thalmann Financial Services in a research report issued to clients and investors on Wednesday. The brokerage presently has a “buy” rating on the financial services provider’s stock. Ladenburg Thalmann Financial Services’ target price would suggest a potential upside of 20.40% from the stock’s previous close.
Several other research firms have also weighed in on MGP. SunTrust Banks restated a “buy” rating and issued a $30.00 target price on shares of MGM Growth Properties in a report on Tuesday, October 24th. Zacks Investment Research lowered MGM Growth Properties from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. ValuEngine upgraded MGM Growth Properties from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. Finally, Morgan Stanley upped their price target on MGM Growth Properties from $30.00 to $31.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 24th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. MGM Growth Properties presently has an average rating of “Buy” and an average price target of $32.38.
MGM Growth Properties (NYSE:MGP) traded down $0.43 on Wednesday, reaching $29.07. The company had a trading volume of 896,431 shares, compared to its average volume of 719,686. MGM Growth Properties has a 12-month low of $24.76 and a 12-month high of $31.83. The company has a current ratio of 28.86, a quick ratio of 28.86 and a debt-to-equity ratio of 0.67. The firm has a market cap of $7,450.00 and a price-to-earnings ratio of 37.27.
MGM Growth Properties (NYSE:MGP) last posted its earnings results on Wednesday, November 8th. The financial services provider reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.32). MGM Growth Properties had a return on equity of 0.81% and a net margin of 6.18%. research analysts expect that MGM Growth Properties will post 1.97 EPS for the current year.
In other MGM Growth Properties news, Director Robert W. Smith purchased 1,500 shares of the business’s stock in a transaction dated Monday, November 20th. The stock was bought at an average cost of $29.41 per share, for a total transaction of $44,115.00. Following the completion of the acquisition, the director now directly owns 5,319 shares in the company, valued at $156,431.79. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.60% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the company. Winslow Evans & Crocker Inc. acquired a new position in shares of MGM Growth Properties during the third quarter worth approximately $177,000. M&R Capital Management Inc. lifted its holdings in shares of MGM Growth Properties by 8.5% during the second quarter. M&R Capital Management Inc. now owns 8,675 shares of the financial services provider’s stock worth $258,000 after buying an additional 680 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of MGM Growth Properties by 932.0% during the third quarter. Envestnet Asset Management Inc. now owns 9,288 shares of the financial services provider’s stock worth $281,000 after buying an additional 8,388 shares during the last quarter. Quantitative Systematic Strategies LLC bought a new stake in shares of MGM Growth Properties during the third quarter valued at approximately $285,000. Finally, HighTower Advisors LLC bought a new stake in shares of MGM Growth Properties during the second quarter valued at approximately $354,000.
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.