Synovus Financial Corp increased its position in MGM Growth Properties LLC (NYSE:MGP) by 857.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,391 shares of the financial services provider’s stock after buying an additional 3,037 shares during the period. Synovus Financial Corp’s holdings in MGM Growth Properties were worth $100,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Janus Henderson Group PLC grew its stake in shares of MGM Growth Properties by 1.2% in the 2nd quarter. Janus Henderson Group PLC now owns 2,734,348 shares of the financial services provider’s stock valued at $83,290,000 after buying an additional 32,130 shares during the period. Wedge Capital Management L L P NC lifted its position in MGM Growth Properties by 0.8% in the 3rd quarter. Wedge Capital Management L L P NC now owns 2,349,028 shares of the financial services provider’s stock valued at $69,273,000 after acquiring an additional 18,648 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in MGM Growth Properties by 11.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 944,166 shares of the financial services provider’s stock valued at $28,760,000 after acquiring an additional 99,966 shares in the last quarter. Federated Investors Inc. PA lifted its position in MGM Growth Properties by 7.6% in the 2nd quarter. Federated Investors Inc. PA now owns 927,100 shares of the financial services provider’s stock valued at $28,239,000 after acquiring an additional 65,100 shares in the last quarter. Finally, BlackRock Inc. lifted its position in MGM Growth Properties by 9.8% in the 1st quarter. BlackRock Inc. now owns 655,251 shares of the financial services provider’s stock valued at $17,389,000 after acquiring an additional 58,518 shares in the last quarter.

Shares of NYSE MGP opened at $28.13 on Friday. MGM Growth Properties LLC has a fifty-two week low of $25.31 and a fifty-two week high of $31.61. The stock has a market capitalization of $2.02 billion, a P/E ratio of 14.00, a price-to-earnings-growth ratio of 1.29 and a beta of -0.01. The company has a current ratio of 0.86, a quick ratio of 8.43 and a debt-to-equity ratio of 0.79.

MGM Growth Properties (NYSE:MGP) last posted its earnings results on Thursday, November 1st. The financial services provider reported $0.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.31). MGM Growth Properties had a return on equity of 0.95% and a net margin of 6.13%. The firm had revenue of $282.22 million for the quarter, compared to the consensus estimate of $273.53 million. During the same period in the prior year, the business earned $0.49 EPS. MGM Growth Properties’s quarterly revenue was up 54.4% compared to the same quarter last year. As a group, sell-side analysts expect that MGM Growth Properties LLC will post 2.15 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were given a dividend of $0.438 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $1.75 annualized dividend and a dividend yield of 6.23%. This is a boost from MGM Growth Properties’s previous quarterly dividend of $0.43. MGM Growth Properties’s dividend payout ratio (DPR) is currently 87.06%.

Several equities analysts recently weighed in on the stock. Zacks Investment Research cut shares of MGM Growth Properties from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 25th. Bank of America cut shares of MGM Growth Properties from a “buy” rating to a “neutral” rating in a research report on Monday, October 15th. SunTrust Banks reaffirmed a “hold” rating on shares of MGM Growth Properties in a research report on Tuesday, October 2nd. Nomura assumed coverage on shares of MGM Growth Properties in a research report on Wednesday, September 26th. They issued a “buy” rating and a $37.00 price target on the stock. Finally, Credit Suisse Group assumed coverage on shares of MGM Growth Properties in a research report on Tuesday, August 14th. They issued a “neutral” rating and a $31.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $32.50.

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MGM Growth Properties Company Profile

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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Institutional Ownership by Quarter for MGM Growth Properties (NYSE:MGP)

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