MGM Growth Properties LLC (MGP) Expected to Announce Earnings of $0.53 Per Share

Equities analysts predict that MGM Growth Properties LLC (NYSE:MGP) will report $0.53 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for MGM Growth Properties’ earnings. MGM Growth Properties posted earnings of $0.49 per share during the same quarter last year, which would indicate a positive year over year growth rate of 8.2%. The business is scheduled to announce its next earnings report before the market opens on Tuesday, February 20th.

According to Zacks, analysts expect that MGM Growth Properties will report full-year earnings of $1.94 per share for the current financial year, with EPS estimates ranging from $1.90 to $2.01. For the next year, analysts expect that the firm will report earnings of $2.12 per share, with EPS estimates ranging from $2.00 to $2.18. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that follow MGM Growth Properties.

Several equities analysts recently commented on MGP shares. Zacks Investment Research lowered MGM Growth Properties from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. Morgan Stanley increased their target price on MGM Growth Properties from $30.00 to $31.00 and gave the company an “equal weight” rating in a report on Tuesday, October 24th. SunTrust Banks reissued a “buy” rating and issued a $30.00 target price on shares of MGM Growth Properties in a report on Tuesday, October 24th. ValuEngine raised 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 target price on 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 given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $32.38.

In related news, Director Robert W. Smith acquired 1,500 shares of the firm’s stock in a transaction 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 completion of the purchase, the director now directly owns 5,319 shares of the company’s stock, valued at approximately $156,431.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.60% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Winslow Evans & Crocker Inc. acquired a new position in MGM Growth Properties in the third quarter valued at $177,000. Envestnet Asset Management Inc. boosted its stake in MGM Growth Properties by 932.0% in the third quarter. Envestnet Asset Management Inc. now owns 9,288 shares of the financial services provider’s stock valued at $281,000 after acquiring an additional 8,388 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new position in MGM Growth Properties in the third quarter valued at $285,000. HighTower Advisors LLC acquired a new position in MGM Growth Properties in the second quarter valued at $354,000. Finally, FDx Advisors Inc. acquired a new position in MGM Growth Properties in the third quarter valued at $395,000.

MGM Growth Properties (NYSE:MGP) traded up $0.05 during trading hours on Tuesday, reaching $26.29. The company had a trading volume of 800,363 shares, compared to its average volume of 845,439. The stock has a market capitalization of $1,866.71, a price-to-earnings ratio of 34.14, a PEG ratio of 0.73 and a beta of -1.41. 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 52-week low of $25.15 and a 52-week high of $31.83.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 6.39%. The ex-dividend date was 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 currently 218.18%.

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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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Earnings History and Estimates for MGM Growth Properties (NYSE:MGP)

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