Brokerages forecast that MGM Growth Properties LLC (NYSE:MGP) will report $0.56 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for MGM Growth Properties’ earnings, with the highest EPS estimate coming in at $0.61 and the lowest estimate coming in at $0.51. MGM Growth Properties reported earnings per share of $0.53 during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.7%. The company is expected to issue its next quarterly earnings report before the market opens on Tuesday, April 30th.

According to Zacks, analysts expect that MGM Growth Properties will report full-year earnings of $2.23 per share for the current year, with EPS estimates ranging from $2.08 to $2.34. For the next year, analysts anticipate that the business will report earnings of $2.31 per share, with EPS estimates ranging from $2.09 to $2.47. Zacks’ earnings per share averages are an average based on a survey of analysts that that provide coverage for MGM Growth Properties.

MGM Growth Properties (NYSE:MGP) last released its quarterly earnings data on Thursday, February 14th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.33). MGM Growth Properties had a net margin of 6.69% and a return on equity of 1.13%. The company had revenue of $284.00 million for the quarter, compared to the consensus estimate of $283.16 million. During the same quarter in the previous year, the firm posted $0.52 earnings per share. The business’s revenue for the quarter was up 32.4% compared to the same quarter last year.

A number of analysts recently issued reports on MGP shares. Zacks Investment Research upgraded MGM Growth Properties from a “hold” rating to a “strong-buy” rating and set a $31.00 price objective on the stock in a research note on Wednesday, January 9th. Deutsche Bank restated a “hold” rating and set a $28.00 target price on shares of MGM Growth Properties in a research report on Monday, January 28th. Robert W. Baird started coverage on MGM Growth Properties in a research report on Friday, January 4th. They set an “outperform” rating and a $33.00 target price for the company. SunTrust Banks upgraded MGM Growth Properties from a “hold” rating to a “buy” rating and boosted their target price for the stock from $30.00 to $32.00 in a research report on Wednesday, January 9th. Finally, Credit Suisse Group restated a “neutral” rating and set a $31.00 target price on shares of MGM Growth Properties in a research report on Wednesday, March 20th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $32.70.

Institutional investors and hedge funds have recently bought and sold shares of the company. Essex Investment Management Co. LLC purchased a new position in shares of MGM Growth Properties in the 4th quarter worth about $26,000. First Hawaiian Bank purchased a new position in shares of MGM Growth Properties in the 1st quarter worth about $39,000. Legal & General Group Plc lifted its stake in shares of MGM Growth Properties by 308.7% in the 4th quarter. Legal & General Group Plc now owns 2,076 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 1,568 shares during the last quarter. Synovus Financial Corp lifted its stake in shares of MGM Growth Properties by 28.9% in the 4th quarter. Synovus Financial Corp now owns 4,370 shares of the financial services provider’s stock valued at $115,000 after acquiring an additional 979 shares during the last quarter. Finally, Quantamental Technologies LLC bought a new stake in shares of MGM Growth Properties in the 4th quarter valued at about $129,000. Hedge funds and other institutional investors own 80.90% of the company’s stock.

NYSE:MGP opened at $32.33 on Monday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.99 and a current ratio of 0.99. MGM Growth Properties has a 52-week low of $25.50 and a 52-week high of $33.30. The firm has a market cap of $2.85 billion, a P/E ratio of 14.50, a P/E/G ratio of 3.96 and a beta of 0.53.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a dividend of $0.465 per share. This represents a $1.86 annualized dividend and a yield of 5.75%. This is a boost from MGM Growth Properties’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, March 28th. MGM Growth Properties’s payout ratio is presently 83.41%.

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.

Featured Story: Analyzing a company’s cash flow statement

Get a free copy of the Zacks research report on MGM Growth Properties (MGP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for MGM Growth Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGM Growth Properties and related companies with MarketBeat.com's FREE daily email newsletter.