Victory Capital Management Inc. cut its stake in shares of MGM Growth Properties LLC (NYSE:MGP) by 35.9% during the 4th quarter, HoldingsChannel reports. The firm owned 465,896 shares of the financial services provider’s stock after selling 260,365 shares during the quarter. Victory Capital Management Inc.’s holdings in MGM Growth Properties were worth $13,581,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Winslow Evans & Crocker Inc. purchased a new position in MGM Growth Properties during the third quarter valued at $177,000. Envestnet Asset Management Inc. lifted its position in MGM Growth Properties by 932.0% during the third quarter. Envestnet Asset Management Inc. now owns 9,288 shares of the financial services provider’s stock valued at $281,000 after purchasing an additional 8,388 shares in the last quarter. Quantitative Systematic Strategies LLC purchased a new position in MGM Growth Properties during the third quarter valued at $285,000. HighTower Advisors LLC purchased a new position in MGM Growth Properties during the second quarter valued at $354,000. Finally, FDx Advisors Inc. purchased a new position in MGM Growth Properties during the third quarter valued at $395,000.

In other MGM Growth Properties news, Director Robert W. Smith acquired 1,500 shares of the stock in a transaction dated Monday, November 20th. The shares were acquired at an average cost of $29.41 per share, for a total transaction of $44,115.00. Following the completion of the transaction, the director now directly owns 5,319 shares of the company’s stock, valued at $156,431.79. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.60% of the stock is owned by insiders.

Several equities analysts recently weighed in on MGP shares. Zacks Investment Research downgraded MGM Growth Properties from a “buy” rating to a “hold” rating in a research report on Wednesday, October 18th. SunTrust Banks reiterated a “buy” rating and set a $31.00 target price on shares of MGM Growth Properties in a research report on Friday, November 10th. Ladenburg Thalmann Financial Services set a $35.00 target price on MGM Growth Properties and gave the company a “buy” rating in a research report on Wednesday, January 17th. ValuEngine upgraded MGM Growth Properties from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. Finally, Morgan Stanley boosted their price objective on MGM Growth Properties from $30.00 to $31.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 24th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $32.38.

MGM Growth Properties LLC (MGP) opened at $26.28 on Thursday. MGM Growth Properties LLC has a 52-week low of $25.15 and a 52-week high of $31.83. The company has a market capitalization of $6,730.00 and a PE ratio of 33.69. 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 6.39%. This is an increase from MGM Growth Properties’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, December 28th. MGM Growth Properties’s payout ratio is presently 215.38%.

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MGM Growth Properties 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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