MGM Growth Properties LLC (MGP) Stock Price Up 1.3%
Shares of MGM Growth Properties LLC (NYSE:MGP) rose 1.3% during mid-day trading on Tuesday . The stock 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.
MGP has been the topic of several research analyst reports. Citigroup Inc. initiated coverage on shares of MGM Growth Properties in a research report on Monday, May 16th. They issued a “neutral” rating and a $22.50 price target on the stock. Zacks Investment Research upgraded shares of MGM Growth Properties from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research report on Tuesday. Deutsche Bank AG began coverage on shares of MGM Growth Properties in a research report on Monday, May 16th. They set a “buy” rating and a $26.00 target price on the stock. Evercore ISI began coverage on shares of MGM Growth Properties in a research report on Friday, May 20th. They set a “hold” rating and a $24.00 target price on the stock. Finally, Bank of America Corp. began coverage on shares of MGM Growth Properties in a research report on Monday, May 16th. They set a “buy” rating and a $25.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $25.44.
The company’s 50-day moving average price is $25.80 and its 200-day moving average price is $24.29. The stock’s market cap is $1.54 billion.
The company also recently declared a special dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were given a dividend of $0.2632 per share. The ex-dividend date was Tuesday, June 28th.
In other news, Director James Murren purchased 225,000 shares of the company’s stock in a transaction on Monday, April 25th. The shares were purchased at an average cost of $21.00 per share, with a total value of $4,725,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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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