Analysts predict that MGM Growth Properties LLC (NYSE:MGP) will report $268.85 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for MGM Growth Properties’ earnings, with estimates ranging from $222.44 million to $293.31 million. MGM Growth Properties reported sales of $182.80 million in the same quarter last year, which indicates a positive year over year growth rate of 47.1%. The business is scheduled to issue its next earnings results on Wednesday, November 14th.

On average, analysts expect that MGM Growth Properties will report full year sales of $969.88 million for the current year, with estimates ranging from $896.23 million to $1.02 billion. For the next fiscal year, analysts expect that the firm will report sales of $1.04 billion, with estimates ranging from $956.42 million to $1.18 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover MGM Growth Properties.

MGM Growth Properties (NYSE:MGP) last posted its quarterly earnings results on Tuesday, August 7th. The financial services provider reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.33). The company had revenue of $220.40 million during the quarter, compared to analyst estimates of $218.17 million. MGM Growth Properties had a net margin of 5.85% and a return on equity of 0.81%. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period last year, the firm earned $0.50 EPS.

MGP has been the subject of a number of analyst reports. Credit Suisse Group initiated coverage on MGM Growth Properties in a research note on Tuesday, August 14th. They issued a “neutral” rating and a $31.00 price target for the company. Zacks Investment Research cut MGM Growth Properties from a “buy” rating to a “hold” rating in a research report on Saturday, August 11th. Citigroup upgraded MGM Growth Properties from a “neutral” rating to a “buy” rating in a research report on Wednesday, August 8th. Morgan Stanley lifted their target price on MGM Growth Properties from $29.00 to $32.00 and gave the company a “hold” rating in a research report on Tuesday, July 24th. Finally, Bank of America lifted their target price on MGM Growth Properties from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, July 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. MGM Growth Properties has an average rating of “Buy” and a consensus price target of $32.50.

MGP stock opened at $29.23 on Thursday. The stock has a market capitalization of $2.07 billion, a P/E ratio of 14.54, a P/E/G ratio of 1.34 and a beta of -0.45. MGM Growth Properties has a 52 week low of $25.31 and a 52 week high of $31.61. The company has a debt-to-equity ratio of 0.66, a current ratio of 8.43 and a quick ratio of 8.43.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be given a $0.438 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 5.99%. The ex-dividend date of this dividend is Thursday, September 27th. This is a boost from MGM Growth Properties’s previous quarterly dividend of $0.43. MGM Growth Properties’s payout ratio is currently 85.57%.

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in MGM Growth Properties in the second quarter valued at about $153,000. BNP Paribas Arbitrage SA grew its holdings in shares of MGM Growth Properties by 581.4% during the first quarter. BNP Paribas Arbitrage SA now owns 6,180 shares of the financial services provider’s stock worth $164,000 after purchasing an additional 5,273 shares during the last quarter. Paloma Partners Management Co bought a new stake in shares of MGM Growth Properties during the second quarter worth about $204,000. Xact Kapitalforvaltning AB grew its holdings in shares of MGM Growth Properties by 29.6% during the first quarter. Xact Kapitalforvaltning AB now owns 9,195 shares of the financial services provider’s stock worth $244,000 after purchasing an additional 2,100 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of MGM Growth Properties during the first quarter worth about $251,000.

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

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