MGM Growth Properties LLC (mgp) To Go Ex-Dividend on December 28th

The firm is expected to report its next earnings results on Thursday, February 15th. M&R Capital Management Inc. now owns 8,675 shares of the financial services provider's stock valued at $258,000 after purchasing an additional 680 shares in the last quarter.

With an open letter addressed to James Murren, Chairman of MGM Resorts International, the real estate investment trust has announced its final decision not to participate in the proposed merger.

Several other brokerages have also recently issued reports on MGP. SunTrust Banks reiterated a "buy" rating and issued a $30.00 price target on shares of MGM Growth Properties in a report on Tuesday, October 24th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. The company has a 50-day moving average price of $24.57 and a 200 day moving average price of $25.55. Quantitative Systematic Strategies LLC purchased a new stake in shares of MGM Growth Properties during the third quarter worth $285,000. Following the completion of the purchase, the director now owns 5,319 shares of the company's stock, valued at $156,431.79. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.60% of the company's stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MGM Growth Properties's dividend payout ratio (DPR) is 215.38%. Wedge Capital Management L L P NC now owns 2,136,012 shares of the financial services provider's stock valued at $64,529,000 after acquiring an additional 523,915 shares during the period. JPMorgan Chase & Co. grew its position in shares of MGM Growth Properties by 1,350.2% during the 2nd quarter. Finally, Quantitative Systematic Strategies LLC bought a new position in shares of MGM Growth Properties during the third quarter valued at about $285,000. The firm acquired 201,700 shares of the financial services provider's stock, valued at approximately $6,093,000.

"MGM Growth Properties LLC believes that a proposed combination is extremely attractive strategically and financially for both Vici Properties Incorporated and MGM Growth Properties LLC", reportedly read the second statement from MGM Growth Properties LLC.

Buckingham Research initiated MGM Growth Properties LLC (NYSE:MGP) on Tuesday, November 22 with "Buy" rating. The stock had a trading volume of 549,993 shares, compared to its average volume of 659,500. The company has a current ratio of 28.86, a quick ratio of 28.86 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $7,540.00 and a price-to-earnings ratio of 37.56. After having $0.49 EPS previously, MGM Growth Properties LLC's analysts see 8.16% EPS growth. Stockholders of record on Friday, December 29th were given a dividend of $0.42 per share. The ex-dividend date is Thursday, December 28th. This Tuesday brought the news that MGM Growth Properties made an offer for a merger to Caesars' spin-off investment trust with a proposal amounting to as much as $6 billion. MGM Growth Properties said it would also be willing to offer a portion of the consideration in the form of cash.

TRADEMARK VIOLATION WARNING: This report was published by TrueBlueTribune and is owned by of TrueBlueTribune.

This company is an owner, acquirer and developer of experiential real estate assets across leading gaming, hospitality, entertainment and leisure destinations.

According to MGP, benefits would include creating the largest triple-net lease REIT and a Top 15 public REIT in the RMZ by enterprise value; a leading portfolio of premier large-scale destination leisure, entertainment and hospitality assets with even greater geographic, asset and tenant diversity; and a larger combined company with greater efficiencies and an enhanced financial profile.

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