MGM Growth Properties LLC (NYSE:MGP) – Research analysts at SunTrust Banks issued their Q1 2019 earnings estimates for MGM Growth Properties in a note issued to investors on Monday. SunTrust Banks analyst P. Scholes expects that the financial services provider will post earnings per share of $0.55 for the quarter. SunTrust Banks has a “Buy” rating and a $31.00 price target on the stock. SunTrust Banks also issued estimates for MGM Growth Properties’ Q2 2019 earnings at $0.56 EPS, Q3 2019 earnings at $0.56 EPS and Q4 2019 earnings at $0.56 EPS.

MGM Growth Properties (NYSE:MGP) last released its earnings results on Wednesday, November 8th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.32). MGM Growth Properties had a return on equity of 0.81% and a net margin of 6.18%.

MGP has been the subject of a number of other research reports. Zacks Investment Research lowered shares of MGM Growth Properties from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. Ladenburg Thalmann Financial Services set a $35.00 price objective on shares of MGM Growth Properties and gave the company a “buy” rating in a report on Wednesday, January 17th. ValuEngine raised shares of MGM Growth Properties from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. Finally, Morgan Stanley upped their price objective on shares of MGM Growth Properties from $30.00 to $31.00 and gave the company an “equal weight” rating in a report on Tuesday, October 24th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $32.38.

MGM Growth Properties (NYSE MGP) traded down $0.33 during trading on Tuesday, hitting $26.61. 328,097 shares of the stock were exchanged, compared to its average volume of 826,135. MGM Growth Properties has a fifty-two week low of $25.15 and a fifty-two week high of $31.83. The stock has a market capitalization of $1,975.19, a price-to-earnings ratio of 34.75, a price-to-earnings-growth ratio of 0.75 and a beta of -1.41. The company has a debt-to-equity ratio of 0.67, a current ratio of 28.86 and a quick ratio of 28.86.

A number of hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC boosted its stake in MGM Growth Properties by 973.9% during the second quarter. Janus Henderson Group PLC now owns 4,133,371 shares of the financial services provider’s stock worth $120,650,000 after buying an additional 3,748,466 shares during the period. American Century Companies Inc. grew its stake in MGM Growth Properties by 17.4% during the 4th quarter. American Century Companies Inc. now owns 3,919,299 shares of the financial services provider’s stock worth $114,248,000 after buying an additional 579,541 shares during the last quarter. JPMorgan Chase & Co. grew its stake in MGM Growth Properties by 51.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,337,717 shares of the financial services provider’s stock worth $100,733,000 after buying an additional 1,127,948 shares during the last quarter. Alyeska Investment Group L.P. grew its stake in MGM Growth Properties by 6.8% during the 3rd quarter. Alyeska Investment Group L.P. now owns 2,742,183 shares of the financial services provider’s stock worth $82,841,000 after buying an additional 175,228 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new position in MGM Growth Properties during the 3rd quarter worth $80,532,000.

In related news, Director Robert W. Smith bought 1,500 shares of the stock in a transaction on Monday, November 20th. The stock was bought at an average price of $29.41 per share, with a total value of $44,115.00. Following the completion of the purchase, the director now directly owns 5,319 shares in the company, valued at approximately $156,431.79. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.60% of the company’s stock.

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 6.31%. The ex-dividend date of this dividend was Thursday, December 28th. This is a positive change from MGM Growth Properties’s previous quarterly dividend of $0.40. MGM Growth Properties’s dividend payout ratio (DPR) is 218.18%.

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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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