Zacks Investment Research upgraded shares of MGM Growth Properties LLC (NYSE:MGP) from a hold rating to a buy rating in a research report report published on Thursday. The brokerage currently has $34.00 price objective on the financial services provider’s stock.

According to Zacks, “MGM Growth Properties LLC is a real estate investment trust. The company is engaged in the acquisition, ownership and leasing of destination entertainment and leisure resorts which include casino gaming, hotel, convention, dining, entertainment and retail offerings. MGM Growth Properties LLC is based in Las Vegas, Nevada. “

MGP has been the topic of several other research reports. Ladenburg Thalmann Financial Services began coverage on shares of MGM Growth Properties in a report on Friday, June 2nd. They issued a buy rating and a $32.00 price target on the stock. ValuEngine cut shares of MGM Growth Properties from a buy rating to a hold rating in a report on Tuesday, June 20th. Deutsche Bank AG boosted their target price on shares of MGM Growth Properties from $28.00 to $30.00 and gave the company a hold rating in a report on Wednesday, August 9th. UBS AG restated a buy rating and set a $33.00 target price (up previously from $30.00) on shares of MGM Growth Properties in a report on Wednesday. Finally, Barclays PLC restated a buy rating and set a $33.00 target price on shares of MGM Growth Properties in a report on Friday, August 11th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $31.86.

Shares of MGM Growth Properties (NYSE MGP) traded up 0.42% on Thursday, reaching $31.22. 4,270,479 shares of the company traded hands. MGM Growth Properties has a one year low of $23.63 and a one year high of $31.69. The stock has a market capitalization of $1.80 billion, a P/E ratio of 40.03 and a beta of -1.31. The stock’s 50 day moving average price is $30.13 and its 200-day moving average price is $28.29.

MGM Growth Properties (NYSE:MGP) last released its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.50 by $0.32. The company had revenue of $184.45 million during the quarter, compared to the consensus estimate of $184.43 million. MGM Growth Properties had a net margin of 6.21% and a return on equity of 0.81%. The business’s revenue was up 66.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 EPS. Equities analysts forecast that MGM Growth Properties will post $0.80 earnings per share for the current fiscal year.

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Several hedge funds have recently made changes to their positions in MGP. Fifth Third Bancorp bought a new stake in shares of MGM Growth Properties during the 1st quarter valued at $139,000. Quantbot Technologies LP bought a new stake in shares of MGM Growth Properties during the 1st quarter valued at $207,000. BB&T Securities LLC bought a new stake in shares of MGM Growth Properties during the 2nd quarter valued at $210,000. Bray Capital Advisors bought a new stake in shares of MGM Growth Properties during the 2nd quarter valued at $213,000. Finally, SG Americas Securities LLC bought a new stake in shares of MGM Growth Properties during the 1st quarter valued at $248,000.

MGM Growth Properties Company Profile

MGM Growth Properties LLC is a real estate investment trust engaged in the acquisition, ownership and leasing of destination entertainment and leisure resorts, whose amenities include casino gaming, hotel, convention, dining, entertainment and retail offerings. Its portfolio consists of approximately 10 destination resorts.

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Analyst Recommendations for MGM Growth Properties (NYSE:MGP)

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