MGM Growth Properties LLC (MGP) Trading Down 1.4%
MGM Growth Properties LLC (NYSE:MGP) was down 1.4% on Thursday . The stock traded as low as $25.87 and last traded at $25.94, with a volume of 91,256 shares trading hands. The stock had previously closed at $26.32.
Several equities research analysts recently weighed in on MGP shares. Deutsche Bank AG started coverage on MGM Growth Properties in a research report on Monday, May 16th. They set a “buy” rating and a $26.00 price target on the stock. Bank of America Corp. restated a “buy” rating and set a $29.00 price target on shares of MGM Growth Properties in a research report on Friday, August 5th. SunTrust Banks Inc. started coverage on MGM Growth Properties in a research report on Monday, May 16th. They set a “buy” rating and a $26.00 price target on the stock. Zacks Investment Research upgraded MGM Growth Properties from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Tuesday, July 19th. Finally, Morgan Stanley cut MGM Growth Properties from an “overweight” rating to an “equal weight” rating and set a $25.00 price objective for the company. in a research note on Wednesday, June 22nd. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $26.50.
The firm has a 50-day moving average of $26.50 and a 200-day moving average of $24.83. The firm’s market capitalization is $1.49 billion.
MGM Growth Properties (NYSE:MGP) last issued 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 firm earned $101.25 million during the quarter, compared to analysts’ expectations of $110.24 million. On average, equities analysts expect that MGM Growth Properties LLC will post $1.29 EPS for the current fiscal year.
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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