Somewhat Favorable News Coverage Somewhat Unlikely to Impact MGM Growth Properties (NYSE:MGP) Share Price
Media stories about MGM Growth Properties (NYSE:MGP) have been trending somewhat positive recently, Accern Sentiment reports. The research group identifies positive and negative media coverage by reviewing more than 20 million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. MGM Growth Properties earned a media sentiment score of 0.18 on Accern’s scale. Accern also assigned news headlines about the financial services provider an impact score of 46.8532343293521 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
MGP has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of MGM Growth Properties from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Wednesday, May 3rd. Deutsche Bank AG reiterated a “hold” rating and issued a $28.00 price target (up previously from $27.00) on shares of MGM Growth Properties in a research note on Friday, April 28th. ValuEngine cut shares of MGM Growth Properties from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Finally, Ladenburg Thalmann Financial Services initiated coverage on shares of MGM Growth Properties in a research note on Friday, June 2nd. They set a “buy” rating and a $32.00 target price on the stock. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. MGM Growth Properties presently has a consensus rating of “Buy” and a consensus target price of $29.33.
MGM Growth Properties (NYSE:MGP) opened at 29.47 on Monday. The company has a market cap of $1.70 billion, a PE ratio of 40.87 and a beta of -1.36. The firm’s 50-day moving average is $29.04 and its 200 day moving average is $27.40. MGM Growth Properties has a 1-year low of $23.63 and a 1-year high of $30.03.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were paid a dividend of $0.395 per share. This is a positive change from MGM Growth Properties’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 5.36%. MGM Growth Properties’s payout ratio is presently 143.64%.
In other MGM Growth Properties news, Director Robert W. Smith purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were acquired at an average price of $27.87 per share, for a total transaction of $55,740.00. Following the completion of the purchase, the director now owns 2,000 shares of the company’s stock, valued at $55,740. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.60% of the stock is currently owned by insiders.
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MGM Growth Properties Company Profile
MGM Growth Properties LLC is a real estate investment trust engaged in the acquisition, ownership and leasing of destination entertainment and leisure resorts, whose amenities include casino gaming, hotel, convention, dining, entertainment and retail offerings. Its portfolio consists of approximately 10 destination resorts.
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