MGM Growth Properties (NYSE:MGP) Stock Rating Lowered by UBS Group

MGM Growth Properties (NYSE:MGP) was downgraded by equities researchers at UBS Group from a “buy” rating to a “neutral” rating in a report released on Friday, The Fly reports.

A number of other research analysts have also commented on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $43.00 price objective on shares of MGM Growth Properties in a research note on Friday, August 6th. Truist lowered shares of MGM Growth Properties from a “buy” rating to a “hold” rating in a research note on Monday, August 9th. Zacks Investment Research lowered shares of MGM Growth Properties from a “buy” rating to a “hold” rating in a research note on Tuesday, July 20th. Wolfe Research started coverage on shares of MGM Growth Properties in a research report on Monday, June 14th. They issued a “peer perform” rating and a $43.00 price target on the stock. Finally, Truist Securities lowered shares of MGM Growth Properties from a “buy” rating to a “hold” rating in a research report on Monday, August 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, MGM Growth Properties presently has a consensus rating of “Hold” and an average target price of $38.45.

Shares of MGP traded down $0.14 during mid-day trading on Friday, reaching $40.44. 13,896 shares of the company’s stock traded hands, compared to its average volume of 1,222,521. The business’s 50-day moving average price is $39.42 and its 200-day moving average price is $36.54. The stock has a market capitalization of $6.34 billion, a P/E ratio of 29.48, a price-to-earnings-growth ratio of 2.67 and a beta of 0.80. The company has a debt-to-equity ratio of 0.81, a quick ratio of 8.05 and a current ratio of 8.05. MGM Growth Properties has a 12 month low of $25.83 and a 12 month high of $43.19.

MGM Growth Properties (NYSE:MGP) last released its quarterly earnings results on Friday, August 6th. The financial services provider reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.37). The business had revenue of $194.30 million for the quarter, compared to the consensus estimate of $197.44 million. MGM Growth Properties had a net margin of 24.23% and a return on equity of 3.65%. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same period last year, the firm posted $0.56 EPS. Equities research analysts anticipate that MGM Growth Properties will post 2.54 EPS for the current year.

Institutional investors have recently bought and sold shares of the stock. The PNC Financial Services Group Inc. boosted its stake in MGM Growth Properties by 405.9% in the 1st quarter. The PNC Financial Services Group Inc. now owns 855 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 686 shares during the period. Rocky Mountain Advisers LLC acquired a new stake in shares of MGM Growth Properties during the 2nd quarter valued at $33,000. NEXT Financial Group Inc acquired a new stake in shares of MGM Growth Properties during the 2nd quarter valued at $43,000. Rockefeller Capital Management L.P. acquired a new stake in shares of MGM Growth Properties during the 1st quarter valued at $55,000. Finally, Advisory Services Network LLC acquired a new stake in shares of MGM Growth Properties during the 2nd quarter valued at $55,000. 92.02% of the stock is owned by hedge funds and other institutional investors.

MGM Growth Properties Company Profile

MGM Growth Properties LLC operates as real estate investment trust, which engages in the acquisition, ownership, and leasing of destination entertainment and leisure resorts. It diverse amenities include casino gaming, hotel, convention, dining, entertainment, and retail offerings. The company was founded on October 23, 2015 and is headquartered in Las Vegas, NV.

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