MGM Growth Properties LLC (NYSE:MGP)‘s stock had its “buy” rating reissued by investment analysts at Barclays PLC in a research note issued on Friday. They currently have a $33.00 price objective on the financial services provider’s stock. Barclays PLC’s price objective would indicate a potential upside of 10.66% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Zacks Investment Research upgraded MGM Growth Properties from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research note on Thursday. Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of MGM Growth Properties in a research note on Thursday. Deutsche Bank AG boosted their price objective on MGM Growth Properties from $28.00 to $30.00 and gave the stock a “hold” rating in a research note on Wednesday. Finally, ValuEngine upgraded MGM Growth Properties from a “hold” rating to a “buy” rating in a research note on Monday, June 26th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $30.50.

MGM Growth Properties (NYSE MGP) traded up 0.24% during trading on Friday, hitting $29.82. The stock had a trading volume of 398,326 shares. The company has a market cap of $1.72 billion, a price-to-earnings ratio of 41.36 and a beta of -1.36. The firm’s 50-day moving average price is $29.19 and its 200-day moving average price is $27.58. MGM Growth Properties has a 52-week low of $23.63 and a 52-week high of $30.03.

MGM Growth Properties (NYSE:MGP) last announced its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ 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 analysts’ expectations of $184.43 million. During the same quarter in the prior year, the firm earned $0.32 EPS. MGM Growth Properties’s revenue for the quarter was up 66.3% on a year-over-year basis. Analysts predict that MGM Growth Properties will post $0.83 EPS for the current fiscal year.

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In related news, Director Robert W. Smith bought 2,000 shares of the stock in a transaction dated Tuesday, May 30th. The shares were acquired at an average cost of $27.87 per share, for a total transaction 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 SEC, which can be accessed through this hyperlink. Insiders own 0.60% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of MGP. Macquarie Group Ltd. boosted its position in shares of MGM Growth Properties by 17.1% in the fourth quarter. Macquarie Group Ltd. now owns 470,387 shares of the financial services provider’s stock valued at $11,905,000 after buying an additional 68,633 shares in the last quarter. Nationwide Fund Advisors boosted its position in shares of MGM Growth Properties by 0.3% in the first quarter. Nationwide Fund Advisors now owns 575,181 shares of the financial services provider’s stock valued at $15,559,000 after buying an additional 1,625 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its position in shares of MGM Growth Properties by 6.7% in the first quarter. State of New Jersey Common Pension Fund D now owns 96,000 shares of the financial services provider’s stock valued at $2,597,000 after buying an additional 6,000 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of MGM Growth Properties by 0.4% in the first quarter. Russell Investments Group Ltd. now owns 85,359 shares of the financial services provider’s stock valued at $2,308,000 after buying an additional 340 shares in the last quarter. Finally, IndexIQ Advisors LLC boosted its position in shares of MGM Growth Properties by 12.5% in the first quarter. IndexIQ Advisors LLC now owns 62,394 shares of the financial services provider’s stock valued at $1,688,000 after buying an additional 6,942 shares in the last quarter. Institutional investors and hedge funds own 96.72% of the company’s stock.

About MGM Growth Properties

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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