NWQ Investment Management Company LLC grew its position in shares of MGM Growth Properties LLC (NYSE:MGP) by 19.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 366,800 shares of the financial services provider’s stock after acquiring an additional 61,000 shares during the period. NWQ Investment Management Company LLC’s holdings in MGM Growth Properties were worth $10,692,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Envestnet Asset Management Inc. raised its stake in shares of MGM Growth Properties by 932.0% during the third quarter. Envestnet Asset Management Inc. now owns 9,288 shares of the financial services provider’s stock valued at $281,000 after acquiring an additional 8,388 shares during the last quarter. FDx Advisors Inc. bought a new position in shares of MGM Growth Properties during the third quarter valued at about $395,000. Parametric Portfolio Associates LLC bought a new position in shares of MGM Growth Properties during the second quarter valued at about $413,000. NTV Asset Management LLC bought a new position in shares of MGM Growth Properties during the third quarter valued at about $426,000. Finally, Bbva Compass Bancshares Inc. bought a new position in shares of MGM Growth Properties during the fourth quarter valued at about $493,000.
Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $31.00 price objective (down from $33.00) on shares of MGM Growth Properties in a research note on Wednesday, February 21st. Ladenburg Thalmann Financial Services set a $35.00 price objective on shares of MGM Growth Properties and gave the company a “buy” rating in a research note on Wednesday, January 17th. Zacks Investment Research downgraded shares of MGM Growth Properties from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. Bank of America lowered their price objective on shares of MGM Growth Properties from $34.00 to $29.00 and set a “buy” rating for the company in a research note on Wednesday, February 21st. Finally, Morgan Stanley assumed coverage on shares of MGM Growth Properties in a research note on Thursday, February 15th. They set an “equal weight” rating and a $29.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. MGM Growth Properties currently has a consensus rating of “Buy” and a consensus target price of $31.44.
MGM Growth Properties (NYSE:MGP) last released its quarterly earnings results on Tuesday, February 20th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.01). MGM Growth Properties had a return on equity of 0.73% and a net margin of 5.46%. The company had revenue of $214.50 million during the quarter, compared to the consensus estimate of $207.74 million. During the same period in the previous year, the company earned $0.47 earnings per share. MGM Growth Properties’s quarterly revenue was up 16.5% on a year-over-year basis. analysts anticipate that MGM Growth Properties LLC will post 2.14 EPS for the current year.
In related news, Director Robert W. Smith purchased 1,500 shares of the firm’s stock in a transaction that occurred on Monday, March 5th. The stock was bought at an average cost of $26.53 per share, with a total value of $39,795.00. Following the completion of the purchase, the director now directly owns 6,819 shares in the company, valued at $180,908.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.60% of the stock is owned by corporate insiders.
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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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