MGM Growth Properties LLC (MGP) Shares Up 1.3%
Shares of MGM Growth Properties LLC (NYSE:MGP) shot up 1.3% on Tuesday . The company traded as high as $26.67 and last traded at $26.46, with a volume of 175,713 shares traded. The stock had previously closed at $26.12.
A number of research firms recently weighed in on MGP. Morgan Stanley lowered shares of MGM Growth Properties from an “overweight” rating to an “equal weight” rating and set a $25.00 target price on the stock. in a research note on Wednesday, June 22nd. Zacks Investment Research raised MGM Growth Properties from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a report on Tuesday. SunTrust Banks Inc. started coverage on MGM Growth Properties in a report on Monday, May 16th. They issued a “buy” rating and a $26.00 price target for the company. JPMorgan Chase & Co. started coverage on MGM Growth Properties in a report on Monday, May 16th. They issued an “overweight” rating and a $26.00 price target for the company. Finally, Deutsche Bank AG reaffirmed a “buy” rating on shares of MGM Growth Properties in a report on Monday, June 27th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $25.44.
The company’s market capitalization is $1.53 billion. The company has a 50 day moving average of $25.66 and a 200-day moving average of $24.21.
The company also recently announced a special dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were issued a dividend of $0.2632 per share. The ex-dividend date of this dividend was Tuesday, June 28th.
In other news, Director James Murren bought 225,000 shares of the business’s stock in a transaction dated Monday, April 25th. The stock was purchased at an average cost of $21.00 per share, with a total value of $4,725,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.
MGM Growth Properties LLC is a real estate investment trust. The Company is a subsidiary of MGM Resorts International, a holding company, which through its subsidiaries, owns and operates casino resorts. The Company is 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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