MGM Growth Properties LLC Class (NYSE:MGP):
MGM Growth Properties LLC Announces Third Quarter 2016 Earnings Release Date.
The company is now up from yesterday’s close of $25.25.
The company also recently announced a dividend for shareholders paid on Friday the 14th of October 2016. The dividend was $0.388 per share for the quarter which comes to $1.55 on an annualized basis. This dividend amount represented a yeild of $6.02. The ex-dividend date was set for Wednesday the 28th of September 2016.
Shares are trading at $25.67 which is just over the 50 day moving average which is $25.49 and marginally over the 200 day moving average of $25.09. The 50 day moving average moved up $0.18 whereas the 200 day moving average was up $0.58 or +2.31%.
As of the latest earnings report the EPS was $-4.43 and is projected to be $1.29 for the current year with 57,500,000 shares presently outstanding. Analysts expect next quarter’s EPS to be $0.48 with next year’s EPS anticipated to be $1.99.
A few brokerages have weighed in on MGP. UBS initiated coverage on MGP with a rating of “Buy” and price target of $28.00. On June 22 the company was downgraded from “Overweight” to “Equal-weight” in a report issued by Morgan Stanley.
Equity analyst Citigroup began coverage of the stock setting a rating of “Overweight” and establishing a price target of $26.00. On May 16 analysts at Deutsche Bank starting coverage on MGP giving it an initial rating of “Overweight” and projecting a price target of $26.00.
On May 16, 2016 Morgan Stanley issued its first research report on the stock by announcing an initial rating of “Overweight” and a price target of $26.00. On May 16, 2016 JP Morgan started covering MGP with an initial rating of “Overweight” and setting a price target of $26.00.