MGM Growth Properties LLC (NYSE:MGP) – Research analysts at SunTrust Banks dropped their FY2016 EPS estimates for MGM Growth Properties in a research note issued to investors on Monday. SunTrust Banks analyst P. Scholes now anticipates that the firm will post earnings of $1.29 per share for the year, down from their prior forecast of $1.30. SunTrust Banks also issued estimates for MGM Growth Properties’ Q1 2017 earnings at $0.49 EPS and Q4 2017 earnings at $0.50 EPS.

MGM Growth Properties (NYSE:MGP) last released its quarterly earnings results on Monday, November 7th. The company reported $0.48 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by $0.01. The company had revenue of $172.50 million for the quarter, compared to the consensus estimate of $170.14 million.

Earnings History and Estimates for MGM Growth Properties (NYSE:MGP)

Several other analysts also recently weighed in on the stock. Zacks Investment Research upgraded shares of MGM Growth Properties from a “sell” rating to a “hold” rating in a research report on Wednesday. Barclays PLC set a $30.00 price objective on shares of MGM Growth Properties and gave the stock a “buy” rating in a research report on Wednesday. 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. Finally, Citigroup Inc. boosted 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 five have assigned a buy rating to the company. MGM Growth Properties presently has an average rating of “Buy” and an average target price of $26.89.

Shares of MGM Growth Properties (NYSE:MGP) opened at 24.38 on Thursday. The firm’s market cap is $1.40 billion. The stock has a 50 day moving average of $25.48 and a 200 day moving average of $25.22. MGM Growth Properties has a 12 month low of $21.00 and a 12 month high of $27.89.

The firm also recently declared 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 was Wednesday, September 28th. This represents a $1.55 annualized dividend and a yield of 6.35%.

Hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. purchased a new position in shares of MGM Growth Properties during the second quarter worth approximately $63,605,000. CIBC Asset Management Inc purchased a new position in shares of MGM Growth Properties during the second quarter worth approximately $2,049,000. Fidelity National Financial Inc. purchased a new position in shares of MGM Growth Properties during the second quarter worth approximately $13,340,000. UBS Asset Management Americas Inc. purchased a new position in shares of MGM Growth Properties during the second quarter worth approximately $3,907,000. Finally, First Trust Advisors LP purchased a new position in shares of MGM Growth Properties during the second quarter worth approximately $6,992,000. Hedge funds and other institutional investors own 96.64% of the company’s stock.

About MGM Growth Properties

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.

5 Day Chart for NYSE:MGP

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