Analysts forecast that MGM Growth Properties LLC (NYSE:MGP) will announce $211.13 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for MGM Growth Properties’ earnings, with the lowest sales estimate coming in at $208.60 million and the highest estimate coming in at $215.70 million. MGM Growth Properties reported sales of $184.15 million during the same quarter last year, which indicates a positive year over year growth rate of 14.7%. The firm is expected to report its next earnings results on Thursday, February 15th.
On average, analysts expect that MGM Growth Properties will report full-year sales of $211.13 million for the current financial year, with estimates ranging from $759.70 million to $766.86 million. For the next financial year, analysts forecast that the business will report sales of $852.87 million per share, with estimates ranging from $831.55 million to $876.25 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover MGM Growth Properties.
Several brokerages recently weighed in on MGP. Zacks Investment Research upgraded MGM Growth Properties from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a report on Tuesday, September 19th. ValuEngine upgraded MGM Growth Properties from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. SunTrust Banks restated a “buy” rating and set a $31.00 target price on shares of MGM Growth Properties in a report on Friday, November 10th. Finally, Morgan Stanley increased their target price on MGM Growth Properties from $30.00 to $31.00 and gave the company an “equal weight” rating in a report on Tuesday, October 24th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $32.00.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UBS Asset Management Americas Inc. lifted its holdings in MGM Growth Properties by 68.9% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 20,770 shares of the financial services provider’s stock worth $606,000 after buying an additional 8,470 shares during the period. Janus Henderson Group PLC lifted its holdings in MGM Growth Properties by 973.9% in the 2nd quarter. Janus Henderson Group PLC now owns 4,133,371 shares of the financial services provider’s stock worth $120,650,000 after buying an additional 3,748,466 shares during the period. BB&T Securities LLC lifted its holdings in MGM Growth Properties by 343.6% in the 3rd quarter. BB&T Securities LLC now owns 31,942 shares of the financial services provider’s stock worth $965,000 after buying an additional 24,742 shares during the period. Chiron Investment Management LLC purchased a new stake in MGM Growth Properties in the 2nd quarter worth approximately $11,994,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in MGM Growth Properties in the 2nd quarter worth approximately $677,000.
Shares of MGM Growth Properties (NYSE:MGP) traded down $0.15 during trading on Friday, hitting $28.54. The stock had a trading volume of 549,993 shares, compared to its average volume of 659,500. The company has a debt-to-equity ratio of 0.67, a current ratio of 28.86 and a quick ratio of 28.86. The company has a market cap of $2,034.03, a price-to-earnings ratio of 37.07, a PEG ratio of 0.77 and a beta of -1.43. MGM Growth Properties has a 12-month low of $24.58 and a 12-month high of $31.83.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be issued a $0.42 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.68 annualized dividend and a yield of 5.89%. This is a boost from MGM Growth Properties’s previous quarterly dividend of $0.40. MGM Growth Properties’s dividend payout ratio (DPR) is 218.18%.
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About MGM Growth Properties
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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