MGM Growth Properties LLC (MGP) Shares Bought by Janus Henderson Group PLC

Janus Henderson Group PLC increased its stake in shares of MGM Growth Properties LLC (NYSE:MGP) by 973.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,133,371 shares of the financial services provider’s stock after buying an additional 3,748,466 shares during the period. Janus Henderson Group PLC owned about 7.17% of MGM Growth Properties worth $120,650,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Gerber Kawasaki Wealth & Investment Management increased its holdings in MGM Growth Properties by 806.2% during the second quarter. Gerber Kawasaki Wealth & Investment Management now owns 72,494 shares of the financial services provider’s stock worth $2,058,000 after buying an additional 64,494 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in MGM Growth Properties during the first quarter worth about $265,000. IndexIQ Advisors LLC increased its holdings in MGM Growth Properties by 12.0% during the second quarter. IndexIQ Advisors LLC now owns 69,877 shares of the financial services provider’s stock worth $2,040,000 after buying an additional 7,483 shares during the last quarter. American Century Companies Inc. increased its holdings in MGM Growth Properties by 16.3% during the second quarter. American Century Companies Inc. now owns 3,862,500 shares of the financial services provider’s stock worth $112,746,000 after buying an additional 542,558 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in MGM Growth Properties during the first quarter worth about $248,000. Institutional investors and hedge funds own 86.74% of the company’s stock.

MGP has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of MGM Growth Properties from a “buy” rating to a “hold” rating in a report on Wednesday, September 6th. ValuEngine upgraded shares of MGM Growth Properties from a “hold” rating to a “buy” rating in a research report on Monday, June 26th. Bank of America Corporation reiterated a “buy” rating and set a $34.00 target price (up previously from $32.00) on shares of MGM Growth Properties in a research report on Friday, September 8th. UBS AG reiterated a “buy” rating and set a $33.00 target price (up previously from $30.00) on shares of MGM Growth Properties in a research report on Wednesday, September 6th. Finally, Deutsche Bank AG increased their target price on shares of MGM Growth Properties from $28.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. MGM Growth Properties currently has a consensus rating of “Buy” and an average target price of $31.86.

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Shares of MGM Growth Properties LLC (NYSE:MGP) traded up 0.20% during trading on Monday, reaching $30.08. 50,571 shares of the company’s stock were exchanged. MGM Growth Properties LLC has a 12 month low of $23.63 and a 12 month high of $31.83. The stock has a 50-day moving average price of $30.58 and a 200 day moving average price of $30.58. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of 38.56 and a beta of -1.34.

MGM Growth Properties (NYSE:MGP) last released its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.32). MGM Growth Properties had a net margin of 6.21% and a return on equity of 0.81%. The business had revenue of $184.45 million for the quarter, compared to analysts’ expectations of $184.43 million. During the same period in the previous year, the company earned $0.32 EPS. MGM Growth Properties’s revenue for the quarter was up 66.3% compared to the same quarter last year. On average, analysts forecast that MGM Growth Properties LLC will post $0.78 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be given a dividend of $0

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Gerber Kawasaki Wealth & Investment Management increased its holdings in MGM Growth Properties by 806.2% during the second quarter. Gerber Kawasaki Wealth & Investment Management now owns 72,494 shares of the financial services provider’s stock worth $2,058,000 after buying an additional 64,494 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in MGM Growth Properties during the first quarter worth about $265,000. IndexIQ Advisors LLC increased its holdings in MGM Growth Properties by 12.0% during the second quarter. IndexIQ Advisors LLC now owns 69,877 shares of the financial services provider’s stock worth $2,040,000 after buying an additional 7,483 shares during the last quarter. American Century Companies Inc. increased its holdings in MGM Growth Properties by 16.3% during the second quarter. American Century Companies Inc. now owns 3,862,500 shares of the financial services provider’s stock worth $112,746,000 after buying an additional 542,558 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in MGM Growth Properties during the first quarter worth about $248,000. Institutional investors and hedge funds own 86.74% of the company’s stock.

MGP has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of MGM Growth Properties from a “buy” rating to a “hold” rating in a report on Wednesday, September 6th. ValuEngine upgraded shares of MGM Growth Properties from a “hold” rating to a “buy” rating in a research report on Monday, June 26th. Bank of America Corporation reiterated a “buy” rating and set a $34.00 target price (up previously from $32.00) on shares of MGM Growth Properties in a research report on Friday, September 8th. UBS AG reiterated a “buy” rating and set a $33.00 target price (up previously from $30.00) on shares of MGM Growth Properties in a research report on Wednesday, September 6th. Finally, Deutsche Bank AG increased their target price on shares of MGM Growth Properties from $28.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. MGM Growth Properties currently has a consensus rating of “Buy” and an average target price of $31.86.

ILLEGAL ACTIVITY WARNING: This report was originally reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this report on another site, it was copied illegally and republished in violation of US and international trademark & copyright laws. The correct version of this report can be viewed at https://ledgergazette.com/2017/10/09/mgm-growth-properties-llc-mgp-shares-bought-by-janus-henderson-group-plc.html.

Shares of MGM Growth Properties LLC (NYSE:MGP) traded up 0.20% during trading on Monday, reaching $30.08. 50,571 shares of the company’s stock were exchanged. MGM Growth Properties LLC has a 12 month low of $23.63 and a 12 month high of $31.83. The stock has a 50-day moving average price of $30.58 and a 200 day moving average price of $30.58. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of 38.56 and a beta of -1.34.

MGM Growth Properties (NYSE:MGP) last released its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.32). MGM Growth Properties had a net margin of 6.21% and a return on equity of 0.81%. The business had revenue of $184.45 million for the quarter, compared to analysts’ expectations of $184.43 million. During the same period in the previous year, the company earned $0.32 EPS. MGM Growth Properties’s revenue for the quarter was up 66.3% compared to the same quarter last year. On average, analysts forecast that MGM Growth Properties LLC will post $0.78 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be given a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a dividend yield of 5.26%. The ex-dividend date is Thursday, September 28th. MGM Growth Properties’s payout ratio is currently 205.20%.

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

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