AE Wealth Management LLC grew its stake in shares of MGM Growth Properties LLC (NYSE:MGP) by 48.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,397 shares of the financial services provider’s stock after acquiring an additional 5,380 shares during the period. AE Wealth Management LLC’s holdings in MGM Growth Properties were worth $388,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MGP. Capital Research Global Investors grew its holdings in shares of MGM Growth Properties by 22.9% during the 4th quarter. Capital Research Global Investors now owns 11,095,001 shares of the financial services provider’s stock valued at $343,612,000 after acquiring an additional 2,068,355 shares in the last quarter. Nuveen Asset Management LLC lifted its stake in shares of MGM Growth Properties by 27.0% in the 4th quarter. Nuveen Asset Management LLC now owns 6,779,221 shares of the financial services provider’s stock valued at $209,952,000 after purchasing an additional 1,440,320 shares during the last quarter. Brookfield Public Securities Group LLC lifted its stake in shares of MGM Growth Properties by 29.3% in the 4th quarter. Brookfield Public Securities Group LLC now owns 4,248,131 shares of the financial services provider’s stock valued at $131,565,000 after purchasing an additional 961,845 shares during the last quarter. Schroder Investment Management Group lifted its stake in shares of MGM Growth Properties by 1,324.8% in the 4th quarter. Schroder Investment Management Group now owns 860,177 shares of the financial services provider’s stock valued at $26,640,000 after purchasing an additional 799,806 shares during the last quarter. Finally, Timbercreek Investment Management Inc. lifted its stake in shares of MGM Growth Properties by 147.8% in the 1st quarter. Timbercreek Investment Management Inc. now owns 1,260,579 shares of the financial services provider’s stock valued at $28,766,000 after purchasing an additional 751,880 shares during the last quarter. Institutional investors and hedge funds own 89.94% of the company’s stock.

Several equities research analysts recently issued reports on the stock. Bank of America raised shares of MGM Growth Properties from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $26.00 to $29.00 in a research note on Thursday. Citigroup raised shares of MGM Growth Properties from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $33.00 to $26.00 in a research note on Tuesday, April 7th. ValuEngine lowered shares of MGM Growth Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, April 29th. Morgan Stanley lifted their price objective on shares of MGM Growth Properties from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Finally, Scotiabank lowered shares of MGM Growth Properties from an “outperform” rating to a “sector perform” rating in a research report on Monday, March 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. MGM Growth Properties has an average rating of “Buy” and an average price target of $30.81.

MGM Growth Properties stock opened at $26.58 on Friday. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of 11.46 and a beta of 0.70. The company has a debt-to-equity ratio of 0.78, a current ratio of 14.49 and a quick ratio of 14.49. MGM Growth Properties LLC has a fifty-two week low of $11.43 and a fifty-two week high of $34.37. The firm has a fifty day moving average price of $23.87 and a two-hundred day moving average price of $28.18.

MGM Growth Properties (NYSE:MGP) last announced its quarterly earnings data on Tuesday, May 5th. The financial services provider reported ($0.39) EPS for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.66). The company had revenue of $209.60 million for the quarter, compared to analyst estimates of $222.65 million. MGM Growth Properties had a net margin of 2.32% and a return on equity of 0.33%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.57 EPS. As a group, sell-side analysts expect that MGM Growth Properties LLC will post 2.33 earnings per share for the current year.

In other news, Director Michael Rietbrock sold 17,745 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $23.23, for a total transaction of $412,216.35. Following the completion of the transaction, the director now owns 7,000 shares of the company’s stock, valued at $162,610. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James C. Stewart acquired 1,500 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were bought at an average cost of $26.99 per share, with a total value of $40,485.00. Following the transaction, the chief executive officer now directly owns 54,830 shares of the company’s stock, valued at approximately $1,479,861.70. The disclosure for this purchase can be found here. Insiders have bought 5,000 shares of company stock valued at $127,635 in the last ninety days. 0.60% of the stock is owned by company insiders.

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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Institutional Ownership by Quarter for MGM Growth Properties (NYSE:MGP)

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