MGM Growth Properties (MGP) Receives a Buy from SunTrust Robinson


SunTrust Robinson analyst Patrick Scholes reiterated a Buy rating on MGM Growth Properties (NYSE: MGP) yesterday and set a price target of $32. The company’s shares closed yesterday at $28.54.

According to TipRanks.com, Scholes is a 4-star analyst with an average return of 14.8% and a 66.7% success rate. Scholes covers the Services sector, focusing on stocks such as Wyndham Destinations Inc, Marriott International, and Royal Caribbean.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for MGM Growth Properties with a $30.67 average price target.

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Based on MGM Growth Properties’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $13.15 million. In comparison, last year the company had a net profit of $10.68 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.

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