Raymond James & Associates Decreases Stock Holdings in MGM Growth Properties LLC (NYSE:MGP)

Raymond James & Associates decreased its holdings in shares of MGM Growth Properties LLC (NYSE:MGP) by 13.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 57,320 shares of the financial services provider’s stock after selling 8,832 shares during the period. Raymond James & Associates’ holdings in MGM Growth Properties were worth $2,195,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Dynamic Advisor Solutions LLC lifted its position in shares of MGM Growth Properties by 6.2% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 6,915 shares of the financial services provider’s stock valued at $253,000 after buying an additional 401 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of MGM Growth Properties by 13.8% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 4,792 shares of the financial services provider’s stock valued at $183,000 after buying an additional 580 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of MGM Growth Properties by 3.5% during the 2nd quarter. Lazard Asset Management LLC now owns 17,023 shares of the financial services provider’s stock valued at $623,000 after buying an additional 582 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of MGM Growth Properties by 42.0% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 2,435 shares of the financial services provider’s stock valued at $89,000 after buying an additional 720 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its position in shares of MGM Growth Properties by 0.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 103,010 shares of the financial services provider’s stock valued at $3,772,000 after buying an additional 876 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Shares of MGP opened at $38.62 on Friday. MGM Growth Properties LLC has a 52-week low of $29.92 and a 52-week high of $43.19. The company has a market capitalization of $6.05 billion, a PE ratio of 28.61, a price-to-earnings-growth ratio of 2.44 and a beta of 0.87. The stock has a fifty day simple moving average of $38.70 and a two-hundred day simple moving average of $38.94. The company has a quick ratio of 9.19, a current ratio of 9.19 and a debt-to-equity ratio of 0.81.

MGM Growth Properties (NYSE:MGP) last issued its quarterly earnings data on Wednesday, November 3rd. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.04). MGM Growth Properties had a return on equity of 3.72% and a net margin of 25.08%. As a group, equities analysts anticipate that MGM Growth Properties LLC will post 2.54 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 14th. Investors of record on Friday, December 31st were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 5.44%. This is an increase from MGM Growth Properties’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Thursday, December 30th. MGM Growth Properties’s dividend payout ratio (DPR) is presently 155.56%.

Several research analysts recently commented on MGP shares. Macquarie downgraded MGM Growth Properties from an “outperform” rating to a “neutral” rating and set a $43.00 price objective for the company. in a research note on Monday, December 6th. UBS Group downgraded MGM Growth Properties from a “buy” rating to a “neutral” rating and set a $43.00 price objective for the company. in a research note on Friday, September 17th. Finally, Zacks Investment Research raised MGM Growth Properties from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Friday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, MGM Growth Properties presently has an average rating of “Hold” and a consensus target price of $40.70.

About MGM Growth Properties

MGM Growth Properties LLC operates as real estate investment trust, which engages in the acquisition, ownership, and leasing of destination entertainment and leisure resorts. It diverse amenities include casino gaming, hotel, convention, dining, entertainment, and retail offerings. The company was founded on October 23, 2015 and is headquartered in Las Vegas, NV.

Further Reading: Cyclical Stocks

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

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