Pendal Group Ltd Acquires 2,497 Shares of MGM Growth Properties LLC (NYSE:MGP)

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Pendal Group Ltd grew its holdings in shares of MGM Growth Properties LLC (NYSE:MGP) by 5.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 49,766 shares of the financial services provider’s stock after acquiring an additional 2,497 shares during the period. Pendal Group Ltd owned about 0.05% of MGM Growth Properties worth $1,525,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in MGP. Janus Henderson Group PLC lifted its position in shares of MGM Growth Properties by 50.0% during the second quarter. Janus Henderson Group PLC now owns 4,814,207 shares of the financial services provider’s stock valued at $147,552,000 after purchasing an additional 1,605,007 shares in the last quarter. LDR Capital Management LLC bought a new stake in MGM Growth Properties in the second quarter worth about $7,990,000. Aperio Group LLC bought a new stake in MGM Growth Properties in the second quarter worth about $89,000. Kayne Anderson Capital Advisors LP bought a new stake in MGM Growth Properties in the second quarter worth about $450,000. Finally, HGI Capital Management LLC bought a new stake in MGM Growth Properties in the second quarter worth about $1,616,000.

In other MGM Growth Properties news, Director Robert W. Smith purchased 2,000 shares of the stock in a transaction dated Wednesday, May 29th. The shares were bought at an average price of $31.14 per share, with a total value of $62,280.00. Following the completion of the transaction, the director now directly owns 8,819 shares in the company, valued at approximately $274,623.66. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.49% of the company’s stock.

Shares of NYSE MGP traded up $0.37 during midday trading on Thursday, hitting $29.32. The company’s stock had a trading volume of 2,590 shares, compared to its average volume of 785,152. The company’s fifty day simple moving average is $29.94. MGM Growth Properties LLC has a one year low of $25.50 and a one year high of $33.30. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.81. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 13.13, a price-to-earnings-growth ratio of 3.75 and a beta of 0.50.

MGM Growth Properties (NYSE:MGP) last posted its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.35). MGM Growth Properties had a net margin of 7.51% and a return on equity of 1.29%. The business had revenue of $225.76 million during the quarter, compared to the consensus estimate of $233.62 million. During the same period last year, the firm earned $0.55 EPS. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, analysts expect that MGM Growth Properties LLC will post 2.28 EPS for the current year.

Several analysts have commented on the stock. Nomura reaffirmed a “buy” rating and issued a $39.00 price objective on shares of MGM Growth Properties in a research report on Thursday, August 8th. Evercore ISI set a $38.00 price objective on shares of MGM Growth Properties and gave the stock a “buy” rating in a research report on Wednesday, August 7th. TheStreet raised shares of MGM Growth Properties from a “d” rating to a “c” rating in a research report on Monday, April 22nd. Deutsche Bank reaffirmed a “hold” rating and issued a $32.00 price objective on shares of MGM Growth Properties in a research report on Thursday, August 8th. Finally, Scotiabank assumed coverage on shares of MGM Growth Properties in a research report on Monday, July 29th. They issued an “outperform” rating on the stock. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $34.33.

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.

Further Reading: Bid-Ask Spread

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

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