MGM Growth Properties LLC (MGP) Shares Down 1.4%
Shares of MGM Growth Properties LLC (NYSE:MGP) fell 1.4% during trading on Thursday . The stock traded as low as $25.87 and last traded at $25.94, with a volume of 91,256 shares changing hands. The stock had previously closed at $26.32.
Several brokerages have recently issued reports on MGP. Zacks Investment Research upgraded MGM Growth Properties from a “hold” rating to a “strong-buy” rating and set a $30.00 price target on the stock in a research report on Wednesday, August 10th. Bank of America Corp. reiterated a “buy” rating and set a $29.00 price target on shares of MGM Growth Properties in a research report on Friday, August 5th. Citigroup Inc. lifted their price target 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. Deutsche Bank AG reiterated a “buy” rating on shares of MGM Growth Properties in a research report on Monday, June 27th. Finally, 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. Three equities 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 currently has an average rating of “Buy” and a consensus target price of $26.50.
The stock has a 50-day moving average price of $26.52 and a 200 day moving average price of $24.80. The company’s market cap is $1.50 billion.
MGM Growth Properties (NYSE:MGP) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by $0.35. The business earned $101.25 million during the quarter, compared to the consensus estimate of $110.24 million. On average, equities analysts anticipate that MGM Growth Properties LLC will post $1.29 earnings per share 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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