Trading Report: Today: MGM Growth Properties LLC (MGP) Receives Consensus Recommendation of “Buy” from Brokerages

Today: MGM Growth Properties LLC (MGP) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of MGM Growth Properties LLC (NYSE:MGP) have received an average recommendation of “Buy” from the ten analysts that are presently covering the stock. Four research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $26.57.

Several equities analysts have recently issued reports on MGP shares. Bank of America Corp. reaffirmed a “buy” rating and set a $29.00 price target on shares of MGM Growth Properties in a research note on Friday, August 5th. Zacks Investment Research raised shares of MGM Growth Properties from a “hold” rating to a “strong-buy” rating and set a $30.00 price target for the company in a research note on Wednesday, August 10th. Citigroup Inc. raised their price target on shares of MGM Growth Properties from $23.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday, August 5th. Barclays PLC set a $30.00 price target on shares of MGM Growth Properties and gave the company a “buy” rating in a research note on Wednesday, November 9th. Finally, Buckingham Research started coverage on shares of MGM Growth Properties in a research note on Tuesday, November 22nd. They set a “buy” rating for the company.

A number of large investors have recently bought and sold shares of the company. Capital Research Global Investors bought a new stake in MGM Growth Properties during the second quarter worth approximately $106,326,000. Brookfield Asset Management Inc. bought a new stake in MGM Growth Properties during the second quarter worth approximately $88,428,000. Cbre Clarion Securities LLC bought a new stake in MGM Growth Properties during the second quarter worth approximately $87,844,000. TIAA CREF Investment Management LLC boosted its stake in MGM Growth Properties by 5.4% in the third quarter. TIAA CREF Investment Management LLC now owns 2,813,433 shares of the company’s stock worth $73,346,000 after buying an additional 143,379 shares during the last quarter. Finally, Chartwell Investment Partners LLC boosted its stake in MGM Growth Properties by 24.7% in the third quarter. Chartwell Investment Partners LLC now owns 2,450,415 shares of the company’s stock worth $63,882,000 after buying an additional 484,635 shares during the last quarter. Institutional investors and hedge funds own 97.48% of the company’s stock.

MGM Growth Properties (NYSE:MGP) traded down 0.52% during midday trading on Monday, reaching $24.91. 722,761 shares of the company traded hands. The stock’s market capitalization is $1.43 billion. The company has a 50 day moving average of $25.05 and a 200-day moving average of $25.36. MGM Growth Properties has a 12-month low of $21.00 and a 12-month high of $27.89.

MGM Growth Properties (NYSE:MGP) last issued its quarterly earnings data on Monday, November 7th. The company reported $0.48 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by $0.01. The company had revenue of $172.50 million for the quarter, compared to analyst estimates of $170.14 million. Equities analysts anticipate that MGM Growth Properties will post $1.27 EPS for the current fiscal year.

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