MGM Growth Properties LLC (NYSE:MGP) Director William Hornbuckle acquired 464 shares of MGM Growth Properties stock in a transaction on Monday, October 17th. The shares were bought at an average price of $25.32 per share, with a total value of $11,748.48. Following the completion of the transaction, the director now directly owns 30,763 shares of the company’s stock, valued at approximately $778,919.16. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Shares of MGM Growth Properties LLC (NYSE:MGP) traded down 0.15% during midday trading on Wednesday, hitting $25.88. 26,271 shares of the company were exchanged. The stock’s market capitalization is $1.49 billion. The company has a 50-day moving average price of $25.49 and a 200-day moving average price of $25.06. MGM Growth Properties LLC has a 52-week low of $21.00 and a 52-week high of $27.89.

MGM Growth Properties (NYSE:MGP) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by $0.35. The company had revenue of $101.25 million for the quarter, compared to analysts’ expectations of $110.24 million. On average, analysts forecast that MGM Growth Properties LLC will post $1.29 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 30th were given a $0.387 dividend. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $1.55 dividend on an annualized basis and a yield of 5.97%.

A number of research firms have weighed in on MGP. Morgan Stanley cut shares of MGM Growth Properties from an “overweight” rating to an “equal weight” rating and set a $25.00 price objective for the company. in a research report on Wednesday, June 22nd. Bank of America Corp. restated a “buy” rating and set a $29.00 price objective on shares of MGM Growth Properties in a research report on Friday, August 5th. Zacks Investment Research upgraded shares of MGM Growth Properties from a “hold” rating to a “strong-buy” rating and set a $30.00 price objective for the company in a research report on Wednesday, August 10th. Deutsche Bank AG restated a “buy” rating on shares of MGM Growth Properties in a research report on Monday, June 27th. Finally, Citigroup Inc. upped their price objective on shares of MGM Growth Properties from $23.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, August 5th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. MGM Growth Properties currently has a consensus rating of “Buy” and an average price target of $26.50.

Institutional investors have recently bought and sold shares of the stock. First Trust Advisors LP bought a new stake in shares of MGM Growth Properties during the second quarter valued at approximately $6,992,000. TD Asset Management Inc. bought a new stake in shares of MGM Growth Properties during the second quarter valued at approximately $4,002,000. BB&T Securities LLC bought a new stake in shares of MGM Growth Properties during the second quarter valued at approximately $205,000. M&T Bank Corp bought a new stake in shares of MGM Growth Properties during the second quarter valued at approximately $487,000. Finally, California Public Employees Retirement System bought a new stake in shares of MGM Growth Properties during the second quarter valued at approximately $1,310,000. Hedge funds and other institutional investors own 97.22% of the company’s stock.

MGM Growth Properties Company Profile

MGM Growth Properties LLC is a real estate investment trust. The Company is a subsidiary of MGM Resorts International, a holding company, which through its subsidiaries, owns and operates casino resorts. The Company is 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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