Deutsche Bank analyst Carlo Santarelli maintained a Hold rating on MGM Growth Properties (MGP) on February 14 and set a price target of $28. The company’s shares closed on Friday at $31.32, close to its 52-week high of $31.61.
According to TipRanks.com, Santarelli is a 5-star analyst with an average return of 9.4% and a 63.5% success rate. Santarelli covers the Services sector, focusing on stocks such as International Game Technology, Penn National Gaming, and Red Rock Resorts Inc.
Currently, the analyst consensus on MGM Growth Properties is a Moderate Buy with an average price target of $31, representing a -1.0% downside. In a report issued on February 4, Merrill Lynch also maintained a Hold rating on the stock with a $31 price target.
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Based on MGM Growth Properties’ latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $18.61 million. In comparison, last year the company had a net profit of $8.72 million.
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MGM Growth Properties LLC operates as real estate investment trust, which engages in the acquisition, ownership, and leasing of destination entertainment and leisure resorts. It diverse amenities include casino gaming, hotel, convention, dining, entertainment, and retail offerings.
