MGM Growth Properties LLC (NYSE:MGP) has been assigned an average recommendation of “Buy” from the ten brokerages that are presently covering the stock. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $26.57.

MGP has been the subject of several recent research reports. Zacks Investment Research cut MGM Growth Properties from a “hold” rating to a “sell” rating in a research report on Thursday, October 20th. Buckingham Research started coverage on MGM Growth Properties in a research report on Tuesday, November 22nd. They issued a “buy” rating for the company. Barclays PLC set a $30.00 price objective on MGM Growth Properties and gave the company a “buy” rating in a research report on Wednesday, November 9th. Citigroup Inc. boosted their price objective on MGM Growth Properties from $23.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, August 5th. Finally, Bank of America Corp. restated a “buy” rating and issued a $29.00 price objective on shares of MGM Growth Properties in a research report on Friday, August 5th.

Several hedge funds have recently modified their holdings of the company. Penn Capital Management Co. Inc. purchased a new stake in shares of MGM Growth Properties during the third quarter valued at approximately $1,852,000. Chartwell Investment Partners LLC boosted its stake in shares of MGM Growth Properties by 24.7% in the third quarter. Chartwell Investment Partners LLC now owns 2,450,415 shares of the company’s stock valued at $63,882,000 after buying an additional 484,635 shares during the last quarter. Mark Asset Management Corp boosted its stake in shares of MGM Growth Properties by 5.8% in the third quarter. Mark Asset Management Corp now owns 21,159 shares of the company’s stock valued at $552,000 after buying an additional 1,159 shares during the last quarter. Scopus Asset Management L.P. purchased a new stake in shares of MGM Growth Properties during the third quarter valued at approximately $14,339,000. Finally, Usca Ria LLC boosted its stake in shares of MGM Growth Properties by 31.4% in the third quarter. Usca Ria LLC now owns 25,100 shares of the company’s stock valued at $654,000 after buying an additional 6,000 shares during the last quarter. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Shares of MGM Growth Properties (NYSE:MGP) opened at 24.00 on Monday. MGM Growth Properties has a 12-month low of $21.00 and a 12-month high of $27.89. The company has a 50-day moving average of $25.07 and a 200 day moving average of $25.43. The stock’s market capitalization is $1.38 billion.

MGM Growth Properties (NYSE:MGP) last announced its quarterly earnings results on Monday, November 7th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by $0.01. The company earned $172.50 million during the quarter, compared to the consensus estimate of $170.14 million. Analysts predict that MGM Growth Properties will post $1.27 earnings per share for the current year.

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MGM Growth Properties Company Profile

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.

5 Day Chart for NYSE:MGP

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