MGM Growth Properties LLC (NYSE:MGP)‘s stock had its “buy” rating reiterated by Ladenburg Thalmann Financial Services in a report issued on Thursday.

Several other equities research analysts also recently weighed in on the company. Deutsche Bank AG reissued a “hold” rating and set a $28.00 price objective (up previously from $27.00) on shares of MGM Growth Properties in a report on Friday, April 28th. ValuEngine raised MGM Growth Properties from a “hold” rating to a “buy” rating in a report on Monday, June 26th. Finally, Zacks Investment Research downgraded MGM Growth Properties from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. MGM Growth Properties has a consensus rating of “Buy” and a consensus target price of $29.67.

MGM Growth Properties (MGP) opened at 29.85 on Thursday. The firm has a 50-day moving average price of $29.17 and a 200 day moving average price of $27.57. The company has a market cap of $1.72 billion, a P/E ratio of 41.40 and a beta of -1.36. MGM Growth Properties has a 12 month low of $23.63 and a 12 month high of $30.03.

MGM Growth Properties (NYSE:MGP) last issued its earnings results on Tuesday, August 8th. The financial services provider reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.32. MGM Growth Properties had a net margin of 6.21% and a return on equity of 0.81%. The business had revenue of $184.45 million during the quarter, compared to analyst estimates of $184.43 million. During the same period in the prior year, the business posted $0.32 EPS. The company’s revenue for the quarter was up 66.3% compared to the same quarter last year. On average, equities analysts expect that MGM Growth Properties will post $0.84 earnings per share for the current year.

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In other news, Director Robert W. Smith acquired 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The shares were bought at an average price of $27.87 per share, with a total value of $55,740.00. Following the acquisition, the director now directly owns 2,000 shares in the company, valued at approximately $55,740. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in MGP. Fifth Third Bancorp bought a new position in shares of MGM Growth Properties during the first quarter valued at about $139,000. BB&T Securities LLC bought a new position in shares of MGM Growth Properties during the second quarter valued at about $210,000. Bray Capital Advisors bought a new position in shares of MGM Growth Properties during the second quarter valued at about $213,000. Quantbot Technologies LP bought a new position in shares of MGM Growth Properties during the first quarter valued at about $207,000. Finally, Gerber Kawasaki Wealth & Investment Management bought a new position in shares of MGM Growth Properties during the first quarter valued at about $219,000. 96.72% of the stock is owned by institutional investors and hedge funds.

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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