Wall Street brokerages predict that MGM Growth Properties LLC (NYSE:MGP) will report earnings of $0.50 per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for MGM Growth Properties’ earnings, with estimates ranging from $0.49 to $0.53. MGM Growth Properties posted earnings per share of $0.32 in the same quarter last year, which would indicate a positive year-over-year growth rate of 56.3%. The company is expected to report its next quarterly earnings results on Thursday, August 3rd.

According to Zacks, analysts expect that MGM Growth Properties will report full year earnings of $2.01 per share for the current fiscal year, with EPS estimates ranging from $1.97 to $2.08. For the next financial year, analysts forecast that the firm will report earnings of $2.07 per share, with EPS estimates ranging from $2.02 to $2.16. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for MGM Growth Properties.

MGM Growth Properties (NYSE:MGP) last announced its earnings results on Thursday, April 27th. The financial services provider reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.48 by $0.28. MGM Growth Properties had a net margin of 22.29% and a return on equity of 2.67%. The firm had revenue of $183.90 million during the quarter, compared to analyst estimates of $180.80 million.

MGP has been the subject of a number of recent analyst reports. Zacks Investment Research lowered MGM Growth Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, March 22nd. Deutsche Bank AG reiterated a “hold” rating on shares of MGM Growth Properties in a research report on Monday, March 6th. Finally, Ladenburg Thalmann Financial Services initiated coverage on MGM Growth Properties in a research report on Friday, June 2nd. They issued a “buy” rating and a $32.00 price target for the company. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $28.50.

Shares of MGM Growth Properties (NYSE MGP) traded up 0.21% on Friday, reaching $28.78. 310,995 shares of the company traded hands. MGM Growth Properties has a 52-week low of $23.63 and a 52-week high of $28.99. The firm has a 50-day moving average of $28.19 and a 200-day moving average of $26.38. The company has a market capitalization of $1.66 billion, a PE ratio of 39.92 and a beta of -1.35.

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In other MGM Growth Properties news, Director Robert W. Smith acquired 2,000 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was purchased at an average cost of $27.87 per share, for a total transaction of $55,740.00. Following the transaction, the director now owns 2,000 shares of the company’s stock, valued at approximately $55,740. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

A number of large investors have recently made changes to their positions in MGP. Bank of New York Mellon Corp raised its stake in shares of MGM Growth Properties by 0.3% in the first quarter. Bank of New York Mellon Corp now owns 21,020 shares of the financial services provider’s stock worth $569,000 after buying an additional 69 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of MGM Growth Properties by 0.4% in the first quarter. Russell Investments Group Ltd. now owns 85,359 shares of the financial services provider’s stock worth $2,308,000 after buying an additional 340 shares during the last quarter. Cambiar Investors LLC raised its stake in shares of MGM Growth Properties by 1.1% in the first quarter. Cambiar Investors LLC now owns 132,564 shares of the financial services provider’s stock worth $3,586,000 after buying an additional 1,506 shares during the last quarter. Nationwide Fund Advisors raised its stake in shares of MGM Growth Properties by 0.3% in the first quarter. Nationwide Fund Advisors now owns 575,181 shares of the financial services provider’s stock worth $15,559,000 after buying an additional 1,625 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of MGM Growth Properties by 24.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 17,600 shares of the financial services provider’s stock worth $445,000 after buying an additional 3,500 shares during the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

MGM Growth Properties Company Profile

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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