Shell Asset Management Co. purchased a new position in shares of MGM Growth Properties LLC (NYSE:MGP) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 26,972 shares of the financial services provider’s stock, valued at approximately $795,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Synovus Financial Corp grew its stake in shares of MGM Growth Properties by 857.9% during the 3rd quarter. Synovus Financial Corp now owns 3,391 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 3,037 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of MGM Growth Properties in the second quarter valued at $153,000. Paloma Partners Management Co bought a new position in shares of MGM Growth Properties in the second quarter valued at $204,000. CIBC Asset Management Inc bought a new position in shares of MGM Growth Properties in the second quarter valued at $313,000. Finally, Fox Run Management L.L.C. bought a new position in shares of MGM Growth Properties in the third quarter valued at $309,000. 97.14% of the stock is owned by institutional investors.

Several equities analysts recently weighed in on MGP shares. Nomura started coverage on shares of MGM Growth Properties in a research note on Wednesday, September 26th. They issued a “buy” rating and a $37.00 target price for the company. Credit Suisse Group started coverage on shares of MGM Growth Properties in a research note on Tuesday, August 14th. They issued a “neutral” rating and a $31.00 target price for the company. Zacks Investment Research cut shares of MGM Growth Properties from a “buy” rating to a “hold” rating in a research note on Saturday, August 11th. Bank of America cut shares of MGM Growth Properties from a “buy” rating to a “neutral” rating in a research note on Monday, October 15th. Finally, Citigroup raised shares of MGM Growth Properties from a “neutral” rating to a “buy” rating in a research note on Wednesday, August 8th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $32.67.

Shares of MGM Growth Properties stock opened at $28.56 on Thursday. MGM Growth Properties LLC has a 1 year low of $25.31 and a 1 year high of $31.61. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 14.21, a price-to-earnings-growth ratio of 1.25 and a beta of -0.02. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.86 and a quick ratio of 0.86.

MGM Growth Properties (NYSE:MGP) last announced its quarterly earnings results on Thursday, November 1st. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.31). MGM Growth Properties had a net margin of 6.13% and a return on equity of 0.95%. The business had revenue of $282.22 million for the quarter, compared to analyst estimates of $273.53 million. During the same period in the prior year, the business earned $0.49 EPS. The company’s revenue for the quarter was up 54.4% compared to the same quarter last year. On average, sell-side analysts forecast that MGM Growth Properties LLC will post 2.23 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Shell Asset Management Co. Takes Position in MGM Growth Properties LLC (MGP)” was reported by Watch List News and is owned by of Watch List News. If you are accessing this story on another site, it was stolen and republished in violation of U.S. and international trademark & copyright law. The original version of this story can be viewed at https://www.watchlistnews.com/shell-asset-management-co-takes-position-in-mgm-growth-properties-llc-mgp/2665422.html.

MGM Growth Properties 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.

Read More: How to Track your Portfolio in Google Finance

Want to see what other hedge funds are holding MGP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MGM Growth Properties LLC (NYSE:MGP).

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

Receive News & Ratings for MGM Growth Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGM Growth Properties and related companies with MarketBeat.com's FREE daily email newsletter.