MGM Growth Properties LLC (NYSE:MGP) – Analysts at SunTrust Banks issued their FY2019 earnings per share (EPS) estimates for shares of MGM Growth Properties in a research note issued on Monday. SunTrust Banks analyst P. Scholes expects that the financial services provider will post earnings per share of $2.24 for the year. SunTrust Banks currently has a “Buy” rating and a $31.00 target price on the stock.
Other equities analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of MGM Growth Properties from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. Morgan Stanley boosted their target price on shares of MGM Growth Properties from $30.00 to $31.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 24th. ValuEngine upgraded shares of MGM Growth Properties from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. Finally, Ladenburg Thalmann Financial Services set a $35.00 price objective on shares of MGM Growth Properties and gave the company a “buy” rating in a report on Wednesday, January 17th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $32.38.
MGM Growth Properties (NYSE:MGP) last announced its quarterly earnings data on Wednesday, November 8th. The financial services provider reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.32). MGM Growth Properties had a net margin of 6.18% and a return on equity of 0.81%.
A number of large investors have recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of MGM Growth Properties in the third quarter valued at about $80,532,000. Cohen & Steers Inc. bought a new position in shares of MGM Growth Properties during the 3rd quarter worth about $62,629,000. APG Asset Management N.V. lifted its holdings in shares of MGM Growth Properties by 169.8% during the 4th quarter. APG Asset Management N.V. now owns 2,374,000 shares of the financial services provider’s stock worth $57,630,000 after acquiring an additional 1,494,100 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of MGM Growth Properties by 51.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,337,717 shares of the financial services provider’s stock worth $100,733,000 after acquiring an additional 1,127,948 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of MGM Growth Properties by 17.4% during the 4th quarter. American Century Companies Inc. now owns 3,919,299 shares of the financial services provider’s stock worth $114,248,000 after acquiring an additional 579,541 shares during the period.
In other news, Director Robert W. Smith bought 1,500 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was bought 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 of the company’s stock, valued at approximately $156,431.79. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.60% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were given a $0.42 dividend. This is an increase from MGM Growth Properties’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $1.68 dividend on an annualized basis and a yield of 6.25%. MGM Growth Properties’s payout ratio is presently 215.38%.
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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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