MGM Growth Properties LLC (MGP) Sees Large Volume Increase
MGM Growth Properties LLC (NYSE:MGP) shares saw unusually-strong trading volume on Thursday . Approximately 402,136 shares traded hands during trading, an increase of 25% from the previous session’s volume of 320,605 shares.The stock last traded at $25.84 and had previously closed at $26.10.
A number of equities analysts have recently commented on MGP shares. Morgan Stanley started coverage on shares of MGM Growth Properties in a research note on Monday, May 16th. They set an “overweight” rating and a $24.00 price objective for the company. Citigroup Inc. started coverage on shares of MGM Growth Properties in a report on Monday, May 16th. They issued a “neutral” rating and a $22.50 price target on the stock. Deutsche Bank AG started coverage on shares of MGM Growth Properties in a report on Monday, May 16th. They issued a “buy” rating and a $26.00 price target on the stock. Zacks Investment Research raised shares of MGM Growth Properties from a “hold” rating to a “strong-buy” rating and set a $30.00 price target on the stock in a report on Wednesday. Finally, SunTrust Banks Inc. started coverage on shares of MGM Growth Properties in a report on Monday, May 16th. They issued a “buy” rating and a $26.00 price target on the stock. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $26.50.
The stock’s market cap is $1.49 billion. The stock has a 50 day moving average of $26.38 and a 200-day moving average of $24.73.
MGM Growth Properties (NYSE:MGP) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.47 by $0.35. The company had revenue of $101.25 million for the quarter, compared to analyst estimates of $110.24 million. Equities research analysts forecast that MGM Growth Properties LLC will post $1.38 earnings per share for the current fiscal year.
The company also recently declared a special dividend, which was paid on Friday, July 15th. Investors 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.
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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