MGM Growth Properties (NYSE:MGP) received a $35.00 target price from Morgan Stanley in a report issued on Tuesday, Stock Target Advisor reports. The firm currently has a “hold” rating on the financial services provider’s stock. Morgan Stanley’s price objective points to a potential upside of 13.90% from the stock’s previous close.
Several other research firms also recently commented on MGP. Zacks Investment Research raised MGM Growth Properties from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a report on Wednesday, April 24th. TheStreet raised MGM Growth Properties from a “d” rating to a “c” rating in a report on Monday, April 22nd. Deutsche Bank reissued a “hold” rating and issued a $32.00 price objective on shares of MGM Growth Properties in a report on Wednesday, May 1st. JPMorgan Chase & Co. increased their price target on MGM Growth Properties from $32.00 to $36.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. They noted that the move was a valuation call. Finally, Credit Suisse Group restated a “neutral” rating and issued a $31.00 price target on shares of MGM Growth Properties in a research note on Wednesday, March 20th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $33.90.
NYSE MGP opened at $30.73 on Tuesday. The company has a market capitalization of $2.78 billion, a PE ratio of 13.78, a P/E/G ratio of 2.37 and a beta of 0.55. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.96 and a quick ratio of 0.96. MGM Growth Properties has a 12 month low of $25.50 and a 12 month high of $33.30.
In other MGM Growth Properties news, Director Robert W. Smith purchased 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were acquired at an average price of $31.14 per share, for a total transaction of $62,280.00. Following the purchase, the director now owns 8,819 shares in the company, valued at $274,623.66. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.49% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of MGP. JPMorgan Chase & Co. increased its position in MGM Growth Properties by 294.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 452,967 shares of the financial services provider’s stock worth $13,358,000 after buying an additional 338,002 shares during the period. SG Americas Securities LLC increased its position in MGM Growth Properties by 51.5% during the 4th quarter. SG Americas Securities LLC now owns 5,526 shares of the financial services provider’s stock worth $146,000 after buying an additional 1,878 shares during the period. Essex Investment Management Co. LLC bought a new position in MGM Growth Properties during the 4th quarter worth $26,000. Canada Pension Plan Investment Board bought a new position in MGM Growth Properties during the 4th quarter worth $1,492,000. Finally, Synovus Financial Corp increased its position in MGM Growth Properties by 28.9% during the 4th quarter. Synovus Financial Corp now owns 4,370 shares of the financial services provider’s stock worth $115,000 after buying an additional 979 shares during the period. Hedge funds and other institutional investors own 99.60% 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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