MGM Growth Properties LLC (MGP) Shares Down 1%
MGM Growth Properties LLC (NYSE:MGP) fell 1% on Monday . The stock traded as low as $26.17 and last traded at $26.52, with a volume of 404,819 shares changing hands. The stock had previously closed at $26.78.
Several brokerages have recently weighed in on MGP. Morgan Stanley cut MGM Growth Properties from an “overweight” rating to an “equal weight” rating and set a $25.00 price target on the stock. in a research report on Wednesday, June 22nd. SunTrust Banks Inc. began 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. JPMorgan Chase & Co. began coverage on MGM Growth Properties in a research report on Monday, May 16th. They set an “overweight” rating and a $26.00 price target on the stock. Deutsche Bank AG reiterated a “buy” rating on shares of MGM Growth Properties in a research report on Monday, June 27th. Finally, Evercore ISI began coverage on MGM Growth Properties in a research report on Friday, May 20th. They set a “hold” rating and a $24.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $24.93.
The firm has a 50-day moving average of $25.11 and a 200-day moving average of $24.01. The company’s market cap is $1.53 billion.
The firm also recently disclosed a special dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be issued a $0.2632 dividend. The ex-dividend date is Tuesday, June 28th.
In other MGM Growth Properties news, Director James Murren acquired 225,000 shares of MGM Growth Properties stock in a transaction that occurred on Monday, April 25th. The stock was bought at an average cost of $21.00 per share, for a total transaction of $4,725,000.00. The purchase was disclosed in a document filed with the SEC, which is accessible 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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