Xact Kapitalforvaltning AB acquired a new position in MGM Growth Properties (NYSE:MGP) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,095 shares of the financial services provider’s stock, valued at approximately $207,000.
A number of other institutional investors have also recently bought and sold shares of MGP. APG Asset Management N.V. raised its position in MGM Growth Properties by 169.8% in 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 purchasing an additional 1,494,100 shares during the period. American Century Companies Inc. raised its position in MGM Growth Properties by 17.4% in 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 purchasing an additional 579,541 shares during the period. Wells Fargo & Company MN raised its position in MGM Growth Properties by 1,579.3% in the 3rd quarter. Wells Fargo & Company MN now owns 426,354 shares of the financial services provider’s stock worth $12,881,000 after purchasing an additional 400,965 shares during the period. Cbre Clarion Securities LLC raised its position in MGM Growth Properties by 16.7% in the 4th quarter. Cbre Clarion Securities LLC now owns 2,625,394 shares of the financial services provider’s stock worth $76,530,000 after purchasing an additional 374,795 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in MGM Growth Properties by 1,173.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 348,865 shares of the financial services provider’s stock worth $10,169,000 after purchasing an additional 321,465 shares during the period.
A number of research firms recently weighed in on MGP. Ladenburg Thalmann set a $35.00 price objective on shares of MGM Growth Properties and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Zacks Investment Research lowered shares of MGM Growth Properties from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Evercore ISI raised shares of MGM Growth Properties from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $29.00 to $30.00 in a research report on Sunday, April 8th. Morgan Stanley began coverage on shares of MGM Growth Properties in a research report on Thursday, February 15th. They issued an “equal weight” rating and a $29.00 price objective on the stock. Finally, JPMorgan Chase reissued an “overweight” rating and issued a $31.00 price objective (down from $33.00) on shares of MGM Growth Properties in a research report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven 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 $31.30.
In related news, Director Robert W. Smith bought 1,500 shares of MGM Growth Properties stock in a transaction dated Monday, March 5th. The shares were acquired at an average cost of $26.53 per share, with a total value of $39,795.00. Following the completion of the transaction, the director now owns 6,819 shares in the company, valued at approximately $180,908.07. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.52% of the company’s stock.
Shares of NYSE:MGP opened at $28.25 on Thursday. The company has a market cap of $1,961.01, a PE ratio of 14.05, a P/E/G ratio of 0.76 and a beta of -0.45. MGM Growth Properties has a one year low of $25.31 and a one year high of $31.83. The company has a debt-to-equity ratio of 0.65, a quick ratio of 8.11 and a current ratio of 8.11.
MGM Growth Properties (NYSE:MGP) last issued its earnings results on Tuesday, February 20th. The financial services provider reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.01). The company had revenue of $214.50 million for the quarter, compared to analysts’ expectations of $207.74 million. MGM Growth Properties had a return on equity of 0.73% and a net margin of 5.46%. The business’s revenue was up 16.5% compared to the same quarter last year. During the same period last year, the business posted $0.47 earnings per share. sell-side analysts anticipate that MGM Growth Properties will post 2.14 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, April 13th. Stockholders of record on Friday, March 30th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.95%. The ex-dividend date of this dividend was Wednesday, March 28th. MGM Growth Properties’s dividend payout ratio (DPR) is presently 83.58%.
About MGM Growth Properties
MGM Growth Properties LLC (NYSE:MGP) is one of the leading publicly traded real estate investment trusts engaged in the acquisition, ownership and leasing of large-scale destination entertainment and leisure resorts, whose diverse amenities include casino gaming, hotel, convention, dining, entertainment and retail offerings.
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