MGM Growth Properties LLC (NYSE:MGP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

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. “

Other equities research analysts have also issued research reports about the company. Barclays PLC restated a “buy” rating and set a $33.00 price objective on shares of MGM Growth Properties in a research report on Friday, August 11th. Ladenburg Thalmann Financial Services began coverage on MGM Growth Properties in a research report on Friday, June 2nd. They set a “buy” rating and a $32.00 price objective on the stock. Bank of America Corporation restated a “buy” rating and set a $34.00 price objective (up previously from $32.00) on shares of MGM Growth Properties in a research report on Friday, September 8th. UBS AG restated a “buy” rating and set a $33.00 price objective (up previously from $30.00) on shares of MGM Growth Properties in a research report on Wednesday, September 6th. Finally, Deutsche Bank AG boosted their price objective on MGM Growth Properties from $28.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, August 9th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $31.86.

Shares of MGM Growth Properties (NYSE MGP) opened at 30.73 on Friday. MGM Growth Properties has a one year low of $23.63 and a one year high of $31.83. The stock’s 50 day moving average price is $31.01 and its 200 day moving average price is $28.57. The company has a market cap of $1.77 billion, a PE ratio of 39.40 and a beta of -1.31.

MGM Growth Properties (NYSE:MGP) last posted its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.32). MGM Growth Properties had a return on equity of 0.81% and a net margin of 6.21%. The business had revenue of $184.45 million for the quarter, compared to analyst estimates of $184.43 million. During the same period last year, the firm posted $0.32 EPS. MGM Growth Properties’s quarterly revenue was up 66.3% on a year-over-year basis. Equities analysts predict that MGM Growth Properties will post $0.78 earnings per share for the current fiscal year.

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Several institutional investors have recently made changes to their positions in MGP. Janus Henderson Group PLC boosted its position in shares of MGM Growth Properties by 973.9% during the 2nd quarter. Janus Henderson Group PLC now owns 4,133,371 shares of the financial services provider’s stock valued at $120,650,000 after purchasing an additional 3,748,466 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of MGM Growth Properties by 1,350.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,209,769 shares of the financial services provider’s stock valued at $64,503,000 after purchasing an additional 2,057,390 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of MGM Growth Properties by 778.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 750,219 shares of the financial services provider’s stock valued at $21,878,000 after purchasing an additional 664,860 shares in the last quarter. American Century Companies Inc. boosted its position in shares of MGM Growth Properties by 16.3% during the 2nd quarter. American Century Companies Inc. now owns 3,862,500 shares of the financial services provider’s stock valued at $112,746,000 after purchasing an additional 542,558 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of MGM Growth Properties by 1,558.5% during the 2nd quarter. Renaissance Technologies LLC now owns 537,600 shares of the financial services provider’s stock valued at $15,693,000 after purchasing an additional 505,185 shares in the last quarter.

About MGM Growth Properties

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.

Analyst Recommendations for MGM Growth Properties (NYSE:MGP)

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