Zacks Investment Research lowered shares of MGM Growth Properties LLC (NYSE:MGP) from a buy rating to a hold rating in a report published on Saturday.

According to Zacks, “MGM Growth Properties LLC is a real estate investment trust. The company is engaged in the acquisition, ownership and leasing of destination entertainment and leisure resorts which include casino gaming, hotel, convention, dining, entertainment and retail offerings. MGM Growth Properties LLC is based in Las Vegas, Nevada. “

A number of other research firms have also commented on MGP. Bank of America Corporation restated a buy rating and issued a $34.00 price objective (up from $32.00) on shares of MGM Growth Properties in a research note on Friday, September 8th. UBS AG restated a buy rating and issued a $33.00 price objective (up from $30.00) on shares of MGM Growth Properties in a research note on Wednesday, September 6th. Ladenburg Thalmann Financial Services restated a buy rating on shares of MGM Growth Properties in a research note on Thursday, August 10th. Barclays PLC restated a buy rating and issued a $33.00 price objective on shares of MGM Growth Properties in a research note on Friday, August 11th. Finally, Deutsche Bank AG lifted their price objective on shares of MGM Growth Properties from $28.00 to $30.00 and gave the company a hold rating in a research note on Wednesday, August 9th. Two investment analysts have rated the stock with a hold rating and six 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 $31.86.

Shares of MGM Growth Properties (MGP) traded up 0.72% during midday trading on Friday, reaching $30.73. The company’s stock had a trading volume of 830,860 shares. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 39.40 and a beta of -1.31. The company has a 50 day moving average of $31.01 and a 200-day moving average of $28.57. MGM Growth Properties has a 52 week low of $23.63 and a 52 week high of $31.83.

MGM Growth Properties (NYSE:MGP) last posted its quarterly earnings data on Tuesday, August 8th. The financial services provider reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.32). The business had revenue of $184.45 million during the quarter, compared to analyst estimates of $184.43 million. MGM Growth Properties had a net margin of 6.21% and a return on equity of 0.81%. The company’s revenue for the quarter was up 66.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.32 earnings per share. Equities research analysts predict that MGM Growth Properties will post $0.78 earnings per share for the current year.

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Several institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp increased its stake in shares of MGM Growth Properties by 0.3% during 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 acquiring an additional 69 shares during the period. Russell Investments Group Ltd. increased its stake in shares of MGM Growth Properties by 0.4% during the first quarter. Russell Investments Group Ltd. now owns 85,359 shares of the financial services provider’s stock worth $2,308,000 after acquiring an additional 340 shares during the period. Wells Fargo & Company MN increased its stake in shares of MGM Growth Properties by 2.6% during the second quarter. Wells Fargo & Company MN now owns 25,389 shares of the financial services provider’s stock worth $741,000 after acquiring an additional 649 shares during the period. M&R Capital Management Inc. increased its stake in shares of MGM Growth Properties by 8.5% during the second quarter. M&R Capital Management Inc. now owns 8,675 shares of the financial services provider’s stock worth $258,000 after acquiring an additional 680 shares during the period. Finally, Chartwell Investment Partners LLC increased its stake in shares of MGM Growth Properties by 0.3% during the second quarter. Chartwell Investment Partners LLC now owns 272,735 shares of the financial services provider’s stock worth $7,961,000 after acquiring an additional 798 shares during the period.

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.

Analyst Recommendations for MGM Growth Properties (NYSE:MGP)

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