Equities research analysts expect MGM Growth Properties LLC (NYSE:MGP) to report sales of $268.95 million for the current quarter, Zacks reports. Three analysts have issued estimates for MGM Growth Properties’ earnings, with the highest sales estimate coming in at $293.31 million and the lowest estimate coming in at $222.44 million. MGM Growth Properties posted sales of $182.80 million in the same quarter last year, which suggests a positive year-over-year growth rate of 47.1%. The business is scheduled to issue its next quarterly earnings results before the market opens on Thursday, November 1st.

According to Zacks, analysts expect that MGM Growth Properties will report full year sales of $982.88 million for the current financial year, with estimates ranging from $896.23 million to $1.02 billion. For the next year, analysts anticipate that the business will post sales of $1.05 billion, with estimates ranging from $956.42 million to $1.18 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for MGM Growth Properties.

MGM Growth Properties (NYSE:MGP) last announced its quarterly earnings data on Tuesday, August 7th. The financial services provider reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.33). The firm had revenue of $220.40 million for the quarter, compared to the consensus estimate of $218.17 million. MGM Growth Properties had a return on equity of 0.81% and a net margin of 5.85%. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 earnings per share.

Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded MGM Growth Properties from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research report on Tuesday. Bank of America lowered MGM Growth Properties from a “buy” rating to a “neutral” rating in a research report on Monday. SunTrust Banks restated a “hold” rating on shares of MGM Growth Properties in a research report on Tuesday, October 2nd. Nomura assumed coverage on MGM Growth Properties in a research report on Wednesday, September 26th. They set a “buy” rating and a $37.00 target price for the company. Finally, Credit Suisse Group assumed coverage on MGM Growth Properties in a research report on Tuesday, August 14th. They set a “neutral” rating and a $31.00 target price for the company. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $32.50.

Several institutional investors and hedge funds have recently modified their holdings of MGP. Fox Run Management L.L.C. acquired a new position in MGM Growth Properties during the 3rd quarter worth approximately $309,000. Timbercreek Investment Management Inc. boosted its position in MGM Growth Properties by 12.0% during the 3rd quarter. Timbercreek Investment Management Inc. now owns 157,046 shares of the financial services provider’s stock worth $4,631,000 after acquiring an additional 16,836 shares during the last quarter. Northern Trust Corp boosted its position in MGM Growth Properties by 14.3% during the 2nd quarter. Northern Trust Corp now owns 83,513 shares of the financial services provider’s stock worth $2,543,000 after acquiring an additional 10,447 shares during the last quarter. Bank of New York Mellon Corp boosted its position in MGM Growth Properties by 1.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 307,022 shares of the financial services provider’s stock worth $9,352,000 after acquiring an additional 3,928 shares during the last quarter. Finally, Cleararc Capital Inc. boosted its position in MGM Growth Properties by 19.6% during the 2nd quarter. Cleararc Capital Inc. now owns 353,424 shares of the financial services provider’s stock worth $10,765,000 after acquiring an additional 57,971 shares during the last quarter.

NYSE:MGP traded up $0.29 on Friday, hitting $28.04. 1,785,200 shares of the stock were exchanged, compared to its average volume of 673,293. The stock has a market capitalization of $2.09 billion, a P/E ratio of 13.85, a P/E/G ratio of 1.36 and a beta of -0.41. MGM Growth Properties has a 52 week low of $25.31 and a 52 week high of $31.61. The company has a current ratio of 8.43, a quick ratio of 8.43 and a debt-to-equity ratio of 0.66.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were given a $0.438 dividend. The ex-dividend date was Thursday, September 27th. This is a positive change from MGM Growth Properties’s previous quarterly dividend of $0.43. This represents a $1.75 annualized dividend and a dividend yield of 6.25%. MGM Growth Properties’s payout ratio is currently 87.06%.

About MGM Growth Properties

MGM Growth Properties LLC (NYSE:MGP) is one of the leading publicly traded real estate investment trusts 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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