V3 Capital Management L.P. increased its holdings in shares of MGM Growth Properties LLC (NYSE:MGP) by 20.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 470,800 shares of the financial services provider’s stock after buying an additional 80,300 shares during the quarter. MGM Growth Properties accounts for about 3.1% of V3 Capital Management L.P.’s portfolio, making the stock its 7th largest position. V3 Capital Management L.P. owned approximately 0.51% of MGM Growth Properties worth $14,430,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Duncker Streett & Co. Inc. purchased a new stake in MGM Growth Properties during the 2nd quarter worth approximately $37,000. Advisory Services Network LLC grew its holdings in shares of MGM Growth Properties by 471.9% during the first quarter. Advisory Services Network LLC now owns 1,384 shares of the financial services provider’s stock valued at $44,000 after buying an additional 1,142 shares during the last quarter. Cutler Group LP grew its holdings in shares of MGM Growth Properties by 201.8% during the first quarter. Cutler Group LP now owns 1,509 shares of the financial services provider’s stock valued at $48,000 after buying an additional 1,009 shares during the last quarter. Aperio Group LLC purchased a new stake in shares of MGM Growth Properties during the second quarter valued at $89,000. Finally, Redhawk Wealth Advisors Inc. acquired a new position in shares of MGM Growth Properties in the 2nd quarter valued at $90,000. Hedge funds and other institutional investors own 97.40% of the company’s stock.
NYSE MGP remained flat at $$31.32 on Monday. 1,081,716 shares of the company were exchanged, compared to its average volume of 780,025. MGM Growth Properties LLC has a 52 week low of $25.50 and a 52 week high of $33.30. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 3.98 and a beta of 0.48. The business has a fifty day moving average of $29.63 and a 200 day moving average of $30.94.
MGM Growth Properties (NYSE:MGP) last released its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $0.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.35). MGM Growth Properties had a net margin of 7.51% and a return on equity of 1.29%. The company had revenue of $225.76 million for the quarter, compared to analysts’ expectations of $233.62 million. During the same quarter in the previous year, the business posted $0.55 EPS. The business’s quarterly revenue was up 2.4% on a year-over-year basis. On average, analysts expect that MGM Growth Properties LLC will post 2.26 EPS for the current fiscal year.
MGP has been the subject of a number of research reports. Nomura reaffirmed a “buy” rating and set a $39.00 price target on shares of MGM Growth Properties in a research report on Thursday, August 8th. Deutsche Bank reissued a “hold” rating and issued a $32.00 price objective on shares of MGM Growth Properties in a report on Thursday, August 8th. Scotiabank initiated coverage on MGM Growth Properties in a research note on Monday, July 29th. They issued an “outperform” rating for the company. Morgan Stanley set a $35.00 target price on MGM Growth Properties and gave the stock a “hold” rating in a report on Tuesday, June 11th. Finally, Evercore ISI set a $38.00 target price on MGM Growth Properties and gave the company a “buy” rating in a research report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. MGM Growth Properties currently has an average rating of “Buy” and a consensus target price of $34.33.
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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