Morgan Stanley assumed coverage on shares of MGM Growth Properties (NYSE:MGP) in a report released on Thursday, Marketbeat.com reports. The brokerage set an “equal weight” rating and a $29.00 price target on the financial services provider’s stock. Morgan Stanley’s target price indicates a potential upside of 9.60% from the company’s previous close.

Several other equities analysts also recently commented on the company. SunTrust Banks restated a “buy” rating and set a $31.00 target price on shares of MGM Growth Properties in a research report on Friday, November 10th. ValuEngine upgraded MGM Growth Properties from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. Zacks Investment Research upgraded MGM Growth Properties from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research report on Thursday, January 4th. Finally, Ladenburg Thalmann Financial Services set a $35.00 target price on MGM Growth Properties and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $32.13.

MGM Growth Properties (NYSE MGP) traded up $0.18 during trading on Thursday, hitting $26.46. The company had a trading volume of 248,494 shares, compared to its average volume of 818,168. The company has a debt-to-equity ratio of 0.67, a current ratio of 28.86 and a quick ratio of 28.86. The company has a market cap of $6,770.00 and a P/E ratio of 33.85. MGM Growth Properties has a 1-year low of $25.15 and a 1-year high of $31.83.

In other news, Director Robert W. Smith bought 1,500 shares of the stock in a transaction dated Monday, November 20th. The stock was bought at an average cost of $29.41 per share, with a total value of $44,115.00. Following the purchase, the director now owns 5,319 shares of the company’s stock, valued at $156,431.79. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 0.60% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. grew its stake in shares of MGM Growth Properties by 17.4% during the fourth quarter. American Century Companies Inc. now owns 3,919,299 shares of the financial services provider’s stock worth $114,248,000 after purchasing an additional 579,541 shares during the period. JPMorgan Chase & Co. grew its stake in shares of MGM Growth Properties by 51.0% during the third quarter. JPMorgan Chase & Co. now owns 3,337,717 shares of the financial services provider’s stock worth $100,733,000 after purchasing an additional 1,127,948 shares during the period. TIAA CREF Investment Management LLC grew its stake in shares of MGM Growth Properties by 1.2% during the fourth quarter. TIAA CREF Investment Management LLC now owns 2,879,492 shares of the financial services provider’s stock worth $83,937,000 after purchasing an additional 34,855 shares during the period. Alyeska Investment Group L.P. grew its stake in shares of MGM Growth Properties by 6.8% during the third quarter. Alyeska Investment Group L.P. now owns 2,742,183 shares of the financial services provider’s stock worth $82,841,000 after purchasing an additional 175,228 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of MGM Growth Properties during the third quarter worth $80,532,000.

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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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