MGM Growth Properties LLC (NYSE:MGP) – Analysts at Truist Securiti issued their Q1 2021 earnings per share estimates for shares of MGM Growth Properties in a research report issued to clients and investors on Tuesday, September 15th. Truist Securiti analyst B. Jonas expects that the financial services provider will earn $0.59 per share for the quarter. Truist Securiti also issued estimates for MGM Growth Properties’ Q2 2021 earnings at $0.61 EPS.
MGM Growth Properties (NYSE:MGP) last issued its earnings results on Tuesday, August 4th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.28). The business had revenue of $194.30 million during the quarter, compared to the consensus estimate of $198.72 million. MGM Growth Properties had a net margin of 4.64% and a return on equity of 0.65%. The firm’s revenue for the quarter was down 14.0% compared to the same quarter last year. During the same period last year, the business posted $0.59 EPS.
Other research analysts have also issued research reports about the stock. Morgan Stanley raised their target price on shares of MGM Growth Properties from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, August 6th. Nomura raised their target price on shares of MGM Growth Properties from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. Zacks Investment Research lowered shares of MGM Growth Properties from a “strong-buy” rating to a “sell” rating in a research note on Wednesday, July 22nd. Citigroup increased their price target on shares of MGM Growth Properties from $26.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Finally, Nomura Instinet increased their price target on shares of MGM Growth Properties from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $31.97.
Shares of NYSE MGP opened at $29.51 on Wednesday. The firm has a market capitalization of $3.88 billion, a PE ratio of 75.67, a price-to-earnings-growth ratio of 4.29 and a beta of 0.69. The company has a current ratio of 8.04, a quick ratio of 8.04 and a debt-to-equity ratio of 0.70. MGM Growth Properties has a 1 year low of $11.43 and a 1 year high of $34.37. The firm’s 50-day moving average is $28.35 and its 200-day moving average is $26.00.
A number of hedge funds have recently made changes to their positions in MGP. Northwestern Mutual Wealth Management Co. raised its holdings in MGM Growth Properties by 100.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,422 shares of the financial services provider’s stock worth $34,000 after buying an additional 711 shares during the period. Webster Bank N. A. acquired a new stake in shares of MGM Growth Properties in the second quarter valued at approximately $89,000. Stuart Chaussee & Associates Inc. acquired a new stake in shares of MGM Growth Properties in the second quarter valued at approximately $102,000. Valeo Financial Advisors LLC acquired a new stake in shares of MGM Growth Properties in the second quarter valued at approximately $109,000. Finally, Marshall Wace LLP acquired a new stake in shares of MGM Growth Properties in the first quarter valued at approximately $170,000. Hedge funds and other institutional investors own 94.40% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.4875 per share. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $1.95 annualized dividend and a yield of 6.61%. MGM Growth Properties’s dividend payout ratio (DPR) is currently 83.69%.
MGM Growth Properties Company Profile
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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