First Mercantile Trust Co. Invests $164,000 in MGM Growth Properties LLC (MGP)

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First Mercantile Trust Co. purchased a new stake in shares of MGM Growth Properties LLC (NYSE:MGP) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 6,203 shares of the financial services provider’s stock, valued at approximately $164,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Synovus Financial Corp boosted its stake in shares of MGM Growth Properties by 857.9% in the third quarter. Synovus Financial Corp now owns 3,391 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 3,037 shares during the period. Quantbot Technologies LP purchased a new position in shares of MGM Growth Properties in the third quarter valued at approximately $115,000. Quantamental Technologies LLC purchased a new position in shares of MGM Growth Properties in the fourth quarter valued at approximately $129,000. SG Americas Securities LLC boosted its stake in shares of MGM Growth Properties by 51.5% in the fourth quarter. SG Americas Securities LLC now owns 5,526 shares of the financial services provider’s stock valued at $146,000 after purchasing an additional 1,878 shares during the period. Finally, Verition Fund Management LLC purchased a new position in shares of MGM Growth Properties in the third quarter valued at approximately $213,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

Shares of MGM Growth Properties stock opened at $31.37 on Monday. MGM Growth Properties LLC has a 52-week low of $25.31 and a 52-week high of $31.61. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $2.22 billion, a P/E ratio of 15.61, a PEG ratio of 2.19 and a beta of 0.55.

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 15th. Investors of record on Monday, December 31st were paid a $0.447 dividend. The ex-dividend date of this dividend was Friday, December 28th. This represents a $1.79 dividend on an annualized basis and a yield of 5.70%. This is an increase from MGM Growth Properties’s previous quarterly dividend of $0.44. MGM Growth Properties’s payout ratio is currently 89.05%.

Several research analysts have recently commented on MGP shares. Bank of America lowered shares of MGM Growth Properties from a “buy” rating to a “neutral” rating in a research note on Monday, October 15th. Zacks Investment Research raised shares of MGM Growth Properties from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Tuesday, October 16th. Robert W. Baird began coverage on shares of MGM Growth Properties in a research note on Friday, January 4th. They issued an “outperform” rating and a $33.00 price target for the company. SunTrust Banks upgraded shares of MGM Growth Properties from a “hold” rating to a “buy” rating and lifted their price target for the stock from $30.00 to $32.00 in a research note on Wednesday, January 9th. Finally, Deutsche Bank reiterated a “hold” rating and issued a $28.00 price target on shares of MGM Growth Properties in a research note on Monday, January 28th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $32.00.

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

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