Brokerages Set MGM Growth Properties LLC (NYSE:MGP) Price Target at $34.67

MGM Growth Properties LLC (NYSE:MGP) has been given a consensus rating of “Buy” by the thirteen brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $34.67.

A number of brokerages have commented on MGP. Deutsche Bank reaffirmed a “hold” rating and set a $32.00 price target on shares of MGM Growth Properties in a research report on Wednesday, November 6th. Evercore ISI reaffirmed a “buy” rating and set a $37.00 price target on shares of MGM Growth Properties in a research report on Monday, November 11th. Credit Suisse Group lifted their price target on MGM Growth Properties from $32.00 to $33.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Macquarie began coverage on MGM Growth Properties in a research report on Thursday, October 24th. They set an “outperform” rating and a $35.00 price target for the company. Finally, Nomura reaffirmed a “buy” rating and set a $39.00 price target on shares of MGM Growth Properties in a research report on Thursday, August 8th.

Shares of MGM Growth Properties stock remained flat at $$32.70 during trading on Monday. The stock had a trading volume of 1,146,487 shares, compared to its average volume of 744,231. The company has a fifty day moving average price of $30.80 and a 200-day moving average price of $30.70. MGM Growth Properties has a 52-week low of $25.50 and a 52-week high of $33.30. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.58 and a current ratio of 1.58. The stock has a market capitalization of $3.08 billion, a P/E ratio of 14.66, a price-to-earnings-growth ratio of 4.10 and a beta of 0.48.

MGM Growth Properties (NYSE:MGP) last issued its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.35). MGM Growth Properties had a return on equity of 1.31% and a net margin of 8.24%. The firm had revenue of $226.01 million for the quarter, compared to analyst estimates of $227.29 million. During the same period in the prior year, the firm posted $0.49 EPS. The business’s revenue was up 4.3% compared to the same quarter last year. As a group, equities analysts predict that MGM Growth Properties will post 2.26 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN raised its stake in shares of MGM Growth Properties by 5.9% during the 2nd quarter. Wells Fargo & Company MN now owns 647,307 shares of the financial services provider’s stock valued at $19,840,000 after buying an additional 36,348 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of MGM Growth Properties by 11.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 60,513 shares of the financial services provider’s stock valued at $1,855,000 after buying an additional 6,294 shares during the last quarter. HGI Capital Management LLC raised its stake in shares of MGM Growth Properties by 10.9% during the 3rd quarter. HGI Capital Management LLC now owns 58,443 shares of the financial services provider’s stock valued at $1,756,000 after buying an additional 5,733 shares during the last quarter. Kayne Anderson Capital Advisors LP purchased a new position in shares of MGM Growth Properties during the 2nd quarter valued at about $450,000. Finally, State of New Jersey Common Pension Fund D raised its stake in shares of MGM Growth Properties by 76.8% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 196,300 shares of the financial services provider’s stock valued at $5,899,000 after buying an additional 85,300 shares during the last quarter. Institutional investors and hedge funds own 96.91% of the company’s stock.

MGM Growth Properties Company Profile

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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Analyst Recommendations for MGM Growth Properties (NYSE:MGP)

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