Evercore ISI Reiterates “Buy” Rating for MGM Growth Properties (NYSE:MGP)

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MGM Growth Properties (NYSE:MGP)‘s stock had its “buy” rating restated by equities researchers at Evercore ISI in a report released on Monday, AnalystRatings.com reports. They currently have a $37.00 target price on the financial services provider’s stock. Evercore ISI’s price target suggests a potential upside of 13.15% from the stock’s current price.

Other analysts have also issued research reports about the stock. Credit Suisse Group lifted their target price on shares of MGM Growth Properties from $32.00 to $33.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Nomura reiterated a “buy” rating and issued a $39.00 target price on shares of MGM Growth Properties in a research report on Thursday, August 8th. TheStreet upgraded shares of MGM Growth Properties from a “c-” rating to a “b-” rating in a research report on Wednesday, October 2nd. Deutsche Bank reiterated a “hold” rating and issued a $32.00 target price on shares of MGM Growth Properties in a research report on Wednesday, November 6th. Finally, Macquarie initiated coverage on shares of MGM Growth Properties in a research report on Thursday, October 24th. They issued an “outperform” rating and a $35.00 target price on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $34.70.

Shares of NYSE MGP traded up $0.59 during trading on Monday, hitting $32.70. The company had a trading volume of 744,146 shares, compared to its average volume of 782,003. The stock has a fifty day simple moving average of $30.77 and a two-hundred day simple moving average of $30.71. MGM Growth Properties has a fifty-two week low of $25.50 and a fifty-two week high of $33.30. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of 14.66, a price-to-earnings-growth ratio of 4.06 and a beta of 0.48. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.81.

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

Several large investors have recently bought and sold shares of the company. HGI Capital Management LLC raised its stake in MGM Growth Properties by 10.9% during the third quarter. HGI Capital Management LLC now owns 58,443 shares of the financial services provider’s stock worth $1,756,000 after purchasing an additional 5,733 shares during the period. BBVA USA Bancshares Inc. raised its stake in MGM Growth Properties by 4.8% during the third quarter. BBVA USA Bancshares Inc. now owns 49,489 shares of the financial services provider’s stock worth $1,487,000 after purchasing an additional 2,279 shares during the period. Wellington Shields Capital Management LLC purchased a new position in MGM Growth Properties during the third quarter worth about $1,073,000. Boston Advisors LLC raised its stake in MGM Growth Properties by 0.7% during the third quarter. Boston Advisors LLC now owns 190,948 shares of the financial services provider’s stock worth $5,738,000 after purchasing an additional 1,334 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in MGM Growth Properties by 98.0% during the third quarter. Tower Research Capital LLC TRC now owns 8,051 shares of the financial services provider’s stock worth $242,000 after purchasing an additional 3,984 shares during the period. 96.91% of the stock is currently owned by hedge funds and other institutional investors.

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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