MGM Growth Properties (NYSE:MGP) Stock Rating Reaffirmed by Deutsche Bank

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Deutsche Bank reiterated their hold rating on shares of MGM Growth Properties (NYSE:MGP) in a report issued on Wednesday morning, AnalystRatings.com reports. Deutsche Bank currently has a $32.00 target price on the financial services provider’s stock.

A number of other equities analysts have also issued reports on the stock. Nomura restated a buy rating and set a $39.00 target price on shares of MGM Growth Properties in a research report on Thursday, August 8th. Zacks Investment Research upgraded shares of MGM Growth Properties from a hold rating to a buy rating and set a $35.00 target price on the stock in a report on Friday, November 1st. TheStreet upgraded shares of MGM Growth Properties from a c- rating to a b- rating in a report on Wednesday, October 2nd. Scotiabank initiated coverage on shares of MGM Growth Properties in a report on Monday, July 29th. They issued an outperform rating on the stock. Finally, Evercore ISI set a $38.00 target price on shares of MGM Growth Properties and gave the stock a buy rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. MGM Growth Properties presently has a consensus rating of Buy and a consensus target price of $34.80.

Shares of NYSE:MGP traded up $0.02 during trading on Wednesday, hitting $31.40. 1,904,939 shares of the company were exchanged, compared to its average volume of 784,740. The business’s 50 day moving average is $30.68 and its 200-day moving average is $30.72. The company has a market capitalization of $2.93 billion, a P/E ratio of 14.08, a price-to-earnings-growth ratio of 4.03 and a beta of 0.48. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.81. MGM Growth Properties has a 1-year low of $25.50 and a 1-year high of $33.30.

MGM Growth Properties (NYSE:MGP) last announced its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.35). The company had revenue of $226.01 million for the quarter, compared to analyst estimates of $227.29 million. MGM Growth Properties had a return on equity of 1.31% and a net margin of 8.24%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the company posted $0.49 earnings per share. As a group, sell-side analysts anticipate that MGM Growth Properties will post 2.26 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.99%. This is a boost from MGM Growth Properties’s previous quarterly dividend of $0.47. The ex-dividend date was Friday, September 27th. MGM Growth Properties’s dividend payout ratio is 84.30%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. River & Mercantile Asset Management LLP bought a new stake in MGM Growth Properties during the 2nd quarter valued at $31,000. Duncker Streett & Co. Inc. bought a new position in shares of MGM Growth Properties during the second quarter worth approximately $37,000. Aperio Group LLC bought a new position in shares of MGM Growth Properties during the second quarter worth approximately $89,000. Redhawk Wealth Advisors Inc. bought a new position in shares of MGM Growth Properties during the second quarter worth approximately $90,000. Finally, Tower Research Capital LLC TRC bought a new position in shares of MGM Growth Properties during the second quarter worth approximately $125,000. Institutional investors and hedge funds own 97.36% of the company’s stock.

About MGM Growth Properties

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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Analyst Recommendations for MGM Growth Properties (NYSE:MGP)

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