$182.71 Million in Sales Expected for MGM Growth Properties LLC (MGP) This Quarter

Brokerages expect that MGM Growth Properties LLC (NYSE:MGP) will report sales of $182.71 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for MGM Growth Properties’ earnings, with the highest sales estimate coming in at $186.62 million and the lowest estimate coming in at $176.00 million. MGM Growth Properties reported sales of $110.90 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 64.8%. The business is scheduled to issue its next quarterly earnings report before the market opens on Tuesday, August 8th.

On average, analysts expect that MGM Growth Properties will report full year sales of $182.71 million for the current fiscal year, with estimates ranging from $731.30 million to $744.76 million. For the next fiscal year, analysts anticipate that the firm will post sales of $747.81 million per share, with estimates ranging from $735.46 million to $756.62 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover MGM Growth Properties.

A number of equities research analysts have recently commented on the company. Ladenburg Thalmann Financial Services assumed coverage on MGM Growth Properties in a research report on Friday, June 2nd. They set a “buy” rating and a $32.00 price target on the stock. ValuEngine lowered MGM Growth Properties from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. Zacks Investment Research raised MGM Growth Properties from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research report on Friday, June 9th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $28.00 price target (up previously from $27.00) on shares of MGM Growth Properties in a research report on Friday, April 28th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $28.88.

Shares of MGM Growth Properties (NYSE:MGP) traded down 0.87% during midday trading on Monday, reaching $29.62. 356,263 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $29.04 and its 200 day moving average price is $27.40. The firm has a market capitalization of $1.71 billion, a P/E ratio of 41.08 and a beta of -1.37. MGM Growth Properties has a 52-week low of $23.63 and a 52-week high of $30.03.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were given a dividend of $0.395 per share. This is a positive change from MGM Growth Properties’s previous quarterly dividend of $0.39. The ex-dividend date was Wednesday, June 28th. This represents a $1.58 annualized dividend and a dividend yield of 5.33%. MGM Growth Properties’s dividend payout ratio is presently 143.64%.

In other MGM Growth Properties news, Director Robert W. Smith bought 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The shares were bought at an average price of $27.87 per share, for a total transaction of $55,740.00. Following the transaction, the director now directly owns 2,000 shares in the company, valued at $55,740. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.60% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. Fifth Third Bancorp acquired a new stake in shares of MGM Growth Properties during the first quarter valued at approximately $139,000. Quantbot Technologies LP acquired a new stake in shares of MGM Growth Properties during the first quarter valued at approximately $207,000. Bray Capital Advisors acquired a new stake in shares of MGM Growth Properties during the second quarter valued at approximately $213,000. Gerber Kawasaki Wealth & Investment Management acquired a new stake in shares of MGM Growth Properties during the first quarter valued at approximately $219,000. Finally, SG Americas Securities LLC acquired a new stake in shares of MGM Growth Properties during the first quarter valued at approximately $248,000. Institutional investors own 96.43% of the company’s stock.

About MGM Growth Properties

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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