MGM Growth Properties (NYSE:MGP) Given a $35.00 Price Target at Morgan Stanley

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.

MGM Growth Properties (NYSE:MGP) last released its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $0.24 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.34). The company had revenue of $271.30 million during the quarter, compared to analyst estimates of $283.07 million. MGM Growth Properties had a net margin of 6.73% and a return on equity of 1.16%. The company’s quarterly revenue was up 25.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.49 EPS. On average, sell-side analysts forecast that MGM Growth Properties will post 2.27 earnings per share for the current year.

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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