MGM Growth Properties (NYSE: MGP) rating increased for purchase from Zacks Investment Research

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MGM Growth Properties (NYSE: MGP) was updated by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday, Zacks.com reports. The company currently has a target price of $ 43.00 on the financial services provider’s stock. Zacks Investment Research’s target price suggests a potential upside of 11.34% from the stock’s previous close.

According to Zacks, “MGM Growth Properties LLC is a real estate investment trust. The company is engaged in the acquisition, ownership and leasing of destination entertainment and leisure resorts that include casino games, hotels, conventions, restaurants, entertainment and offers. retail. MGM Growth Properties LLC is headquartered in Las Vegas, Nevada. “

Other research analysts have also published reports on the company. UBS Group downgraded MGM Growth Properties from a “buy” rating to a “neutral” rating and set a target price of $ 43.00 for the company. in a research note on Friday, September 17. Macquarie cut MGM Growth Properties from an “outperforming” rating to a “neutral” rating and set a target price of $ 43.00 for the stock. in a report on Monday 6 December. An equity research analyst rated the stock with a sell rating, five gave it a hold rating, and five issued a buy rating to the stock. According to data from MarketBeat.com, MGM Growth Properties currently has an average “Hold” rating and an average price target of $ 40.70.

The NYSE MGP traded $ 0.23 higher on Friday, reaching $ 38.62. 1,232,645 company shares were traded, against an average volume of 1,180,784. The company’s 50-day moving average price is $ 38.70 and the 200-day moving average price is $ 38.94. The company has a debt-to-equity ratio of 0.81, a current ratio of 9.19 and a quick ratio of 9.19. The company has a market capitalization of $ 6.05 billion, a P / E ratio of 28.61, a price / earnings-growth ratio of 2.44, and a beta of 0.87. MGM Growth Properties has a twelve-month low of $ 29.92 and a twelve-month high of $ 43.19.

MGM Growth Properties (NYSE: MGP) last announced its quarterly earnings results on Wednesday, November 3. The financial services provider posted EPS of $ 0.31 for the quarter, missing Thomson Reuters’ consensus estimate of $ 0.35 of ($ 0.04). MGM Growth Properties had a net margin of 25.08% and a return on equity of 3.72%. As a group, equity analysts expect MGM Growth Properties to post 2.54 EPS for the current year.

Several hedge funds and other institutional investors have recently increased or decreased their holdings in MGPs. Magnetar Financial LLC acquired a new equity interest in MGM Growth Properties during the third quarter valued at approximately $ 121,948,000. Versor Investments LP acquired a new position in MGM Growth Properties in the third quarter for a value of approximately $ 87,923,000. Lasalle Investment Management Securities LLC increased its holdings in MGM Growth Properties by 112.3% in the second quarter. Lasalle Investment Management Securities LLC now owns 2,355,392 shares of the financial services provider worth $ 86,254,000 after acquiring another 1,246,129 shares in the last quarter. Allianz Asset Management GmbH increased its stake in MGM Growth Properties by 96.8% in the second quarter. Allianz Asset Management GmbH now owns 2,416,726 shares of the financial services provider worth $ 88,501,000 after purchasing an additional 1,188,829 shares during the last quarter. Finally, Soros Fund Management LLC acquired a new equity interest in MGM Growth Properties in the third quarter for approximately $ 37,415,000. Hedge funds and other institutional investors own 90.01% of the company’s shares.

MGM Growth Properties Company Profile

MGM Growth Properties LLC operates as a real estate investment fund, engaging in the acquisition, ownership and leasing of destination entertainment and recreational resorts. The different services include casino games, hotels, conventions, restaurants, entertainment, and retail offerings. The company was founded on October 23, 2015 and is headquartered in Las Vegas, NV.

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Analyst Recommendations for MGM Growth Properties (NYSE: MGP)

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