Morgan Stanley Initiates Coverage on MGM Growth Properties (MGP)

Morgan Stanley initiated coverage on shares of MGM Growth Properties (NYSE:MGP) in a research note released on Thursday morning, MarketBeat.com reports. The brokerage issued an equal weight rating and a $29.00 price objective on the financial services provider’s stock.

Several other equities analysts also recently weighed in on the stock. SunTrust Banks reaffirmed a buy rating and set a $31.00 price target on shares of MGM Growth Properties in a report on Friday, November 10th. ValuEngine raised shares of MGM Growth Properties from a hold rating to a buy rating in a report on Thursday, November 9th. Zacks Investment Research raised shares of MGM Growth Properties from a hold rating to a buy rating and set a $32.00 price target on the stock in a report on Thursday, January 4th. Finally, Ladenburg Thalmann Financial Services set a $35.00 price target on shares of MGM Growth Properties and gave the company a buy rating in a report on Wednesday, January 17th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. MGM Growth Properties has an average rating of Buy and a consensus target price of $32.13.

MGM Growth Properties (NYSE:MGP) opened at $26.60 on Thursday. The company has a current ratio of 28.86, a quick ratio of 28.86 and a debt-to-equity ratio of 0.67. MGM Growth Properties has a 1-year low of $25.15 and a 1-year high of $31.83. The firm has a market cap of $1,885.86, a P/E ratio of 34.55, a price-to-earnings-growth ratio of 0.74 and a beta of -1.41.

A number of large investors have recently modified their holdings of the business. Wells Fargo & Company MN raised its position in shares of MGM Growth Properties by 2.6% during the second quarter. Wells Fargo & Company MN now owns 25,389 shares of the financial services provider’s stock valued at $741,000 after buying an additional 649 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in shares of MGM Growth Properties by 68.9% during the second quarter. UBS Asset Management Americas Inc. now owns 20,770 shares of the financial services provider’s stock valued at $606,000 after buying an additional 8,470 shares during the last quarter. Parametric Portfolio Associates LLC bought a new stake in shares of MGM Growth Properties during the second quarter valued at approximately $413,000. Dimensional Fund Advisors LP bought a new stake in shares of MGM Growth Properties during the second quarter valued at approximately $4,189,000. Finally, HighTower Advisors LLC bought a new stake in shares of MGM Growth Properties during the second quarter valued at approximately $354,000.

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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.

Analyst Recommendations for MGM Growth Properties (NYSE:MGP)

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