MGM Growth Properties LLC (NYSE:MGP) Shares Bought by Sawtooth Solutions LLC

Sawtooth Solutions LLC raised its stake in MGM Growth Properties LLC (NYSE:MGP) by 6.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,563 shares of the financial services provider’s stock after buying an additional 551 shares during the quarter. Sawtooth Solutions LLC’s holdings in MGM Growth Properties were worth $328,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in MGM Growth Properties by 4.6% in the second quarter. Vanguard Group Inc. now owns 9,724,856 shares of the financial services provider’s stock valued at $356,124,000 after buying an additional 429,853 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in MGM Growth Properties by 2.6% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,700,445 shares of the financial services provider’s stock worth $208,751,000 after purchasing an additional 145,877 shares during the period. Principal Financial Group Inc. increased its stake in shares of MGM Growth Properties by 1.8% during the third quarter. Principal Financial Group Inc. now owns 5,016,520 shares of the financial services provider’s stock worth $192,134,000 after buying an additional 88,891 shares during the period. Nuveen Asset Management LLC increased its stake in shares of MGM Growth Properties by 5.1% during the second quarter. Nuveen Asset Management LLC now owns 3,633,415 shares of the financial services provider’s stock worth $133,055,000 after buying an additional 175,802 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of MGM Growth Properties by 30.3% during the second quarter. JPMorgan Chase & Co. now owns 2,949,714 shares of the financial services provider’s stock worth $108,019,000 after buying an additional 686,062 shares during the period. 90.01% of the stock is currently owned by institutional investors.

A number of research firms recently weighed in on MGP. Macquarie lowered shares of MGM Growth Properties from an “outperform” rating to a “neutral” rating and set a $43.00 target price on the stock. in a research note on Monday, December 6th. UBS Group downgraded MGM Growth Properties from a “buy” rating to a “neutral” rating and set a $43.00 price objective for the company. in a report on Friday, September 17th. Finally, Zacks Investment Research raised MGM Growth Properties from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Friday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, MGM Growth Properties currently has a consensus rating of “Hold” and a consensus target price of $40.70.

NYSE:MGP opened at $38.62 on Friday. The stock has a fifty day moving average price of $38.70 and a two-hundred day moving average price of $38.94. The stock has a market capitalization of $6.05 billion, a price-to-earnings ratio of 28.61, a PEG ratio of 2.39 and a beta of 0.87. The company has a debt-to-equity ratio of 0.81, a quick ratio of 9.19 and a current ratio of 9.19. MGM Growth Properties LLC has a 1 year low of $29.92 and a 1 year high of $43.19.

MGM Growth Properties (NYSE:MGP) last released its quarterly earnings data on Wednesday, November 3rd. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.04). MGM Growth Properties had a return on equity of 3.72% and a net margin of 25.08%. On average, analysts predict that MGM Growth Properties LLC will post 2.55 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, January 14th. Stockholders of record on Friday, December 31st were given a $0.525 dividend. The ex-dividend date of this dividend was Thursday, December 30th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 5.44%. This is a boost from MGM Growth Properties’s previous quarterly dividend of $0.52. MGM Growth Properties’s dividend payout ratio (DPR) is currently 155.56%.

MGM Growth Properties 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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Institutional Ownership by Quarter for MGM Growth Properties (NYSE:MGP)

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