Robert W. Baird upgraded shares of MGM Growth Properties (NYSE:MGP) from a neutral rating to an outperform rating in a research report report published on Tuesday morning, BenzingaRatingsTable reports. They currently have $32.00 price objective on the financial services provider’s stock, up from their previous price objective of $30.00.

MGP has been the topic of a number of other reports. SunTrust Banks decreased their price target on MGM Growth Properties from $37.00 to $28.00 and set a buy rating on the stock in a research note on Wednesday, April 22nd. Deutsche Bank decreased their price target on MGM Growth Properties from $30.00 to $29.00 and set a buy rating on the stock in a research note on Tuesday, May 5th. Morgan Stanley lifted their price target on MGM Growth Properties from $26.00 to $27.00 and gave the company an equal weight rating in a research note on Wednesday, May 6th. UBS Group decreased their price target on MGM Growth Properties from $35.00 to $33.00 and set a buy rating on the stock in a research note on Thursday, May 7th. Finally, JPMorgan Chase & Co. restated a buy rating and issued a $30.00 price target on shares of MGM Growth Properties in a research note on Monday, March 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $30.81.

NYSE:MGP opened at $26.58 on Tuesday. The firm has a market cap of $3.49 billion, a P/E ratio of 11.46 and a beta of 0.70. The company has a current ratio of 14.49, a quick ratio of 14.49 and a debt-to-equity ratio of 0.78. The stock’s 50 day simple moving average is $23.87 and its 200-day simple moving average is $28.18. MGM Growth Properties has a 12-month low of $11.43 and a 12-month high of $34.37.

MGM Growth Properties (NYSE:MGP) last released its earnings results on Tuesday, May 5th. The financial services provider reported ($0.39) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.66). The company had revenue of $209.60 million during the quarter, compared to analyst estimates of $222.65 million. MGM Growth Properties had a net margin of 2.32% and a return on equity of 0.33%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.57 EPS. Research analysts forecast that MGM Growth Properties will post 2.33 EPS for the current fiscal year.

In related news, CFO Andy H. Chien acquired 1,000 shares of MGM Growth Properties stock in a transaction dated Thursday, March 5th. The shares were acquired at an average cost of $27.80 per share, for a total transaction of $27,800.00. Following the completion of the transaction, the chief financial officer now directly owns 31,248 shares of the company’s stock, valued at $868,694.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James C. Stewart acquired 1,500 shares of MGM Growth Properties stock in a transaction dated Friday, March 6th. The stock was bought at an average price of $26.99 per share, for a total transaction of $40,485.00. Following the completion of the transaction, the chief executive officer now directly owns 54,830 shares of the company’s stock, valued at $1,479,861.70. The disclosure for this purchase can be found here. Insiders bought 5,000 shares of company stock worth $127,635 over the last 90 days. Company insiders own 0.60% of the company’s stock.

Several large investors have recently modified their holdings of MGP. Signaturefd LLC purchased a new stake in shares of MGM Growth Properties in the first quarter valued at $26,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of MGM Growth Properties by 100.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,422 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 711 shares in the last quarter. Whittier Trust Co. purchased a new stake in shares of MGM Growth Properties in the first quarter valued at $35,000. Wealth Alliance acquired a new position in MGM Growth Properties in the fourth quarter valued at $38,000. Finally, Cutler Group LP increased its stake in MGM Growth Properties by 225.0% in the fourth quarter. Cutler Group LP now owns 1,300 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 900 shares during the last quarter. Institutional investors and hedge funds own 89.94% of the company’s stock.

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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Analyst Recommendations for MGM Growth Properties (NYSE:MGP)

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