MGM Growth Properties LLC (NYSE:MGP) has received an average rating of “Buy” from the ten research firms that are presently covering the stock. Four research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $26.57.

MGP has been the topic of a number of research analyst reports. Bank of America Corp. reissued 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 raised shares of MGM Growth Properties from a “hold” rating to a “strong-buy” rating and set a $30.00 price objective on the stock in a research report on Wednesday, August 10th. Citigroup Inc. boosted their price objective on shares of MGM Growth Properties from $23.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, August 5th. Barclays PLC set a $30.00 price objective on shares of MGM Growth Properties and gave the company a “buy” rating in a research report on Wednesday, November 9th. Finally, Buckingham Research initiated coverage on shares of MGM Growth Properties in a research report on Tuesday, November 22nd. They set a “buy” rating on the stock.

Shares of MGM Growth Properties (NYSE:MGP) opened at 24.00 on Monday. The stock’s market cap is $1.38 billion. The stock has a 50 day moving average of $25.07 and a 200 day moving average of $25.43. MGM Growth Properties has a one year low of $21.00 and a one year high of $27.89.

MGM Growth Properties (NYSE:MGP) last issued its earnings results on Monday, November 7th. The company reported $0.48 EPS for the quarter, missing the 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. On average, analysts forecast that MGM Growth Properties will post $1.27 EPS for the current year.

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Several hedge funds have recently made changes to their positions in MGP. Tower Research Capital LLC TRC acquired a new stake in shares of MGM Growth Properties during the second quarter worth approximately $104,000. KBC Group NV acquired a new stake in shares of MGM Growth Properties during the second quarter worth approximately $152,000. Veritable L.P. acquired a new stake in shares of MGM Growth Properties during the second quarter worth approximately $204,000. BB&T Securities LLC acquired a new stake in shares of MGM Growth Properties during the second quarter worth approximately $205,000. Finally, Emerald Acquisition Ltd. boosted its stake in shares of MGM Growth Properties by 152.9% in the third quarter. Emerald Acquisition Ltd. now owns 7,860 shares of the company’s stock worth $205,000 after buying an additional 4,752 shares during the period. Hedge funds and other institutional investors own 97.48% 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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