MGM Growth Properties LLC (MGP) Receives Consensus Rating of “Buy” from Brokerages

Shares of MGM Growth Properties LLC (NYSE:MGP) have been assigned an average rating of “Buy” from the ten analysts that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $31.29.

MGP has been the subject of several research reports. Zacks Investment Research cut shares of MGM Growth Properties from a “buy” rating to a “hold” rating in a research note on Wednesday, September 6th. Bank of America Corporation restated a “buy” rating and set a $34.00 price objective (up from $32.00) on shares of MGM Growth Properties in a research note on Friday, September 8th. SunTrust Banks, Inc. restated a “buy” rating and set a $30.00 price objective on shares of MGM Growth Properties in a research note on Tuesday, October 24th. UBS AG restated a “buy” rating and set a $33.00 price objective (up from $30.00) on shares of MGM Growth Properties in a research note on Wednesday, September 6th. Finally, Morgan Stanley lifted their price objective on shares of MGM Growth Properties from $30.00 to $31.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 24th.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. California Public Employees Retirement System lifted its stake in shares of MGM Growth Properties by 32.6% in the 3rd quarter. California Public Employees Retirement System now owns 58,193 shares of the financial services provider’s stock valued at $1,758,000 after purchasing an additional 14,293 shares during the period. Pacific Grove Capital LP acquired a new position in shares of MGM Growth Properties in the 3rd quarter valued at $4,290,000. Alyeska Investment Group L.P. lifted its stake in shares of MGM Growth Properties by 6.8% in the 3rd quarter. Alyeska Investment Group L.P. now owns 2,742,183 shares of the financial services provider’s stock valued at $82,841,000 after purchasing an additional 175,228 shares during the period. Cohen & Steers Inc. acquired a new position in shares of MGM Growth Properties in the 3rd quarter valued at $62,629,000. Finally, First Republic Investment Management Inc. acquired a new position in shares of MGM Growth Properties in the 3rd quarter valued at $612,000. Hedge funds and other institutional investors own 93.47% of the company’s stock.

Shares of MGM Growth Properties (MGP) opened at $29.27 on Thursday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 28.86 and a current ratio of 28.86. MGM Growth Properties has a 12 month low of $23.63 and a 12 month high of $31.83. The company has a market cap of $2,109.18, a P/E ratio of 15.10, a price-to-earnings-growth ratio of 0.89 and a beta of -1.42.

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MGM Growth Properties Company 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.

Analyst Recommendations for MGM Growth Properties (NYSE:MGP)

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