Parametric Portfolio Associates LLC boosted its position in MGM Growth Properties LLC (NYSE:MGP) by 13.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,758 shares of the financial services provider’s stock after purchasing an additional 3,205 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in MGM Growth Properties were worth $851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MGP. Janus Henderson Group PLC grew its holdings in shares of MGM Growth Properties by 50.0% during the 2nd quarter. Janus Henderson Group PLC now owns 4,814,207 shares of the financial services provider’s stock valued at $147,552,000 after purchasing an additional 1,605,007 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in MGM Growth Properties by 48.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,191,929 shares of the financial services provider’s stock worth $96,811,000 after acquiring an additional 1,034,932 shares during the last quarter. Centersquare Investment Management LLC bought a new stake in MGM Growth Properties in the 2nd quarter worth $25,496,000. Renaissance Technologies LLC grew its holdings in MGM Growth Properties by 43.4% in the 2nd quarter. Renaissance Technologies LLC now owns 949,000 shares of the financial services provider’s stock worth $29,087,000 after acquiring an additional 287,000 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC grew its holdings in MGM Growth Properties by 6.8% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,111,978 shares of the financial services provider’s stock worth $132,611,000 after acquiring an additional 260,695 shares during the last quarter. Institutional investors and hedge funds own 97.39% of the company’s stock.

MGP has been the topic of a number of research reports. Scotiabank initiated coverage on shares of MGM Growth Properties in a research note on Monday, July 29th. They set an “outperform” rating on the stock. Zacks Investment Research lowered shares of MGM Growth Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. Evercore ISI set a $38.00 target price on shares of MGM Growth Properties and gave the company a “buy” rating in a research note on Wednesday, August 7th. Deutsche Bank reaffirmed a “hold” rating and set a $32.00 target price on shares of MGM Growth Properties in a research note on Thursday, August 8th. Finally, Nomura reaffirmed a “buy” rating and set a $39.00 target price on shares of MGM Growth Properties in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $34.33.

MGM Growth Properties stock traded down $0.07 during trading hours on Monday, hitting $29.92. The stock had a trading volume of 5,734 shares, compared to its average volume of 841,617. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $2.78 billion, a P/E ratio of 13.39, a price-to-earnings-growth ratio of 3.86 and a beta of 0.48. MGM Growth Properties LLC has a 12-month low of $25.50 and a 12-month high of $33.30. The stock’s 50-day moving average price is $30.45 and its 200-day moving average price is $30.92.

MGM Growth Properties (NYSE:MGP) last issued its earnings results on Tuesday, August 6th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.35). The firm had revenue of $225.76 million during the quarter, compared to analysts’ expectations of $233.62 million. MGM Growth Properties had a return on equity of 1.29% and a net margin of 7.51%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the firm posted $0.55 earnings per share. On average, research analysts expect that MGM Growth Properties LLC will post 2.26 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.47 dividend. This is a positive change from MGM Growth Properties’s previous quarterly dividend of $0.47. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.28%. The ex-dividend date of this dividend is Friday, September 27th. MGM Growth Properties’s dividend payout ratio is presently 84.30%.

MGM Growth Properties Company Profile

MGM Growth Properties LLC (NYSE:MGP) is one of the leading publicly traded real estate investment trusts engaged in the acquisition, ownership and leasing of large-scale destination entertainment and leisure resorts, whose diverse amenities include casino gaming, hotel, convention, dining, entertainment and retail offerings.

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

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