MGM Growth Properties LLC (NYSE:MGP) declared a quarterly dividend on Wednesday, March 15th. Investors of record on Friday, March 31st will be given a dividend of 0.3875 per share on Thursday, April 13th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 5.89%. The ex-dividend date is Wednesday, March 29th. This is a boost from MGM Growth Properties’s previous quarterly dividend of $0.39.
MGM Growth Properties (NYSE:MGP) opened at 26.32 on Tuesday. The company has a market capitalization of $1.51 billion and a PE ratio of 50.62. MGM Growth Properties has a 12-month low of $21.75 and a 12-month high of $27.89. The company has a 50 day moving average price of $25.71 and a 200-day moving average price of $25.28.
MGM Growth Properties (NYSE:MGP) last posted its quarterly earnings results on Thursday, February 16th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.23. The business earned $184.10 million during the quarter, compared to the consensus estimate of $181.11 million. On average, analysts anticipate that MGM Growth Properties will post $0.91 EPS for the current year.
An institutional investor recently bought a new position in MGM Growth Properties stock. State Street Corp acquired a new position in shares of MGM Growth Properties LLC (NYSE:MGP) during the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 47,804 shares of the company’s stock, valued at approximately $1,210,000. State Street Corp owned 0.08% of MGM Growth Properties as of its most recent SEC filing.
MGP has been the topic of a number of research analyst reports. Deutsche Bank AG cut MGM Growth Properties from a “buy” rating to a “hold” rating and dropped their price target for the company from $28.00 to $27.00 in a research note on Wednesday, December 7th. Buckingham Research restated a “buy” rating and issued a $27.00 price target on shares of MGM Growth Properties in a research note on Friday, December 9th. Finally, Zacks Investment Research cut MGM Growth Properties from a “hold” rating to a “sell” rating in a research note on Tuesday, February 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $27.00.
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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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