Capital Research Global Investors lifted its position in MGM Growth Properties LLC (NYSE:MGP) by 5.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,318,749 shares of the financial services provider’s stock after purchasing an additional 282,500 shares during the quarter. Capital Research Global Investors owned 9.22% of MGM Growth Properties worth $155,254,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp bought a new stake in shares of MGM Growth Properties in the 1st quarter worth about $139,000. Quantbot Technologies LP bought a new stake in shares of MGM Growth Properties in the 1st quarter worth about $207,000. BB&T Securities LLC bought a new stake in shares of MGM Growth Properties in the 2nd quarter worth about $210,000. Bray Capital Advisors bought a new stake in shares of MGM Growth Properties in the 2nd quarter worth about $213,000. Finally, SG Americas Securities LLC bought a new stake in shares of MGM Growth Properties in the 1st quarter worth about $248,000. 86.74% of the stock is currently owned by institutional investors and hedge funds.

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MGM Growth Properties LLC (MGP) opened at 29.92 on Friday. The firm has a market cap of $1.73 billion, a P/E ratio of 38.36 and a beta of -1.34. The company’s 50-day moving average is $30.61 and its 200 day moving average is $30.61. MGM Growth Properties LLC has a 12 month low of $23.63 and a 12 month high of $31.83.

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 Thomson Reuters’ consensus estimate of $0.50 by ($0.32). The firm had revenue of $184.45 million for the quarter, compared to the consensus estimate of $184.43 million. MGM Growth Properties had a return on equity of 0.81% and a net margin of 6.21%. The business’s revenue for the quarter was up 66.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.32 earnings per share. Equities research analysts expect that MGM Growth Properties LLC will post $0.78 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a dividend yield of 5.28%. The ex-dividend date of this dividend is Thursday, September 28th. MGM Growth Properties’s dividend payout ratio (DPR) is currently 205.20%.

Several equities research analysts have recently weighed in on MGP shares. Bank of America Corporation reaffirmed a “buy” rating and issued a $34.00 target price (up previously from $32.00) on shares of MGM Growth Properties in a report on Friday, September 8th. Zacks Investment Research lowered shares of MGM Growth Properties from a “buy” rating to a “hold” rating in a report on Wednesday, September 6th. Barclays PLC reaffirmed a “buy” rating and issued a $33.00 target price on shares of MGM Growth Properties in a report on Friday, August 11th. UBS AG reaffirmed a “buy” rating and issued a $33.00 target price (up previously from $30.00) on shares of MGM Growth Properties in a report on Wednesday, September 6th. Finally, ValuEngine raised shares of MGM Growth Properties from a “hold” rating to a “buy” rating in a report on Monday, June 26th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. MGM Growth Properties currently has an average rating of “Buy” and a consensus target price of $31.86.

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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Institutional Ownership by Quarter for MGM Growth Properties (NYSE:MGP)

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