|Over a week ago|
MGM Growth LLC conversation 'major catalyst' for shares, says JPMorgan » 09:3005/2805/28/20
JPMorgan analyst Joseph…
JPMorgan analyst Joseph Greff left virtual investor meetings with management with a "strong appreciation" for MGM Growth Properties' "safe" cash dividend, which he notes is currently yielding 7.1%. The analyst sees the company's conversion from a limited liability company as a "major catalyst for valuation multiple expansion." The move should allow MGM Growth to be added to more real estate indices and better appeal to dedicated real estate investors, Greff tells investors in a research note. The analyst sees "nothing not to like about MGP" and affirms an Overweight rating on the shares with a $31 price target.
MGM Growth upgraded to Buy from Neutral at BofA » 07:0905/2105/21/20
BofA analyst Shaun Kelley…
BofA analyst Shaun Kelley upgraded MGM Growth (MGP) to Buy from Neutral with a price target of $29, up from $26. After MGM Resorts (MGM) and MGM Growth announced the completion of a transaction that reduces MGM's ownership stake to 56.7% from 60.6%, Kelley said he sees several positives for MGM Growth. In addition to very strong tenant liquidity, solid rent coverage and a rising cash dividend, he sees the key catalyst for the stock being a path to reducing MGM's parent level ownership below 50%, which could allow for index inclusion and a broader investor base. In addition to upgrading MGM Growth this morning, Kelley lowered his rating on MGM Resorts to Underperform from Neutral.
MGM Growth upgraded to Outperform at Baird » 07:5905/1905/19/20
As reported previously,…
As reported previously, Baird analyst Richard Milligan upgraded MGM Growth to Outperform from Neutral with a price target of $32, up from $30. The analyst cited the company's announcement they would redeem 30.3 million of its OP units for $700M. The transaction is accretive to its AFFO and it further boosts MGM's balance sheet.
MGM Growth upgraded to Outperform from Neutral at Baird » 05:3105/1905/19/20
Baird analyst Richard…
Baird analyst Richard Milligan upgraded MGM Growth Properties to Outperform from Neutral with a price target of $32, up from $30.
MGM Growth files automatic mixed securities shelf 06:2305/1805/18/20
|Over a month ago|
MGM Growth reports Q1 AFFO 56c, consensus 56c » 08:4705/0505/05/20
Reports Q1 revenue…
Reports Q1 revenue $209.57M, consensus $226.34M. "In the Q1 we continued to execute on our long-term strategy with the investment in the MGP BREIT Venture, which was immediately accretive to adjusted AFFO and added an iconic Las Vegas Strip resort to our portfolio," said the company. "While we are also cognizant of the severe and unique challenges the COVID-19 pandemic is having on global and domestic economies, we are pleased that our tenant has continued to make rental payments in full and on time and based upon its publicly reported liquidity position, we believe our tenant's liquidity position is sufficient to cover its expected rental obligations."
MGM Growth price target lowered to $29.50 from $36 at Ladenburg » 12:3004/2804/28/20
Ladenburg Thalmann analyst John Massocca lowered the firm's price target on MGM Growth to $29.50 from $36 and keeps a Buy rating on the shares ahead of the company's Q1 results. While gaming real estate investment trust are exposed to a tenant industry that has been heavily impacted by COVID-19, they represent one of the most compelling values in the single-tenant net lease sector, Massocca tells investors in a research note. The analyst believes the tenants have "relatively strong liquidity positions."
MGM Growth price target lowered to $30 from $35 at Deutsche Bank » 08:1404/0804/08/20
Deutsche Bank analyst…
Deutsche Bank analyst Carlo Santarelli lowered the firm's price target on MGM Growth Properties to $30 from $35 and keeps a Buy rating on the shares. The analyst updated his model to account for the recent revolver draw.
MGM Growth upgraded to Buy from Neutral at Citi » 06:4004/0704/07/20
Citi analyst Smedes Rose…
Citi analyst Smedes Rose upgraded MGM Growth Properties to Buy from Neutral with a price target of $26, down from $33. MGM Growth's portfolio is comprised of "mission critical" real estate and MGM Resorts (MGM) remains well positioned to pay rents to the company for an extended period, Rose tells investors in a research note. Further, MGM Growth offers an attractive yield of 8%, says the analyst.
MGM Growth Properties participates in a conference call with UBS » 12:2504/0204/02/20
Lodging & Gaming…
Lodging & Gaming Analyst Farley holds a conference call with CEO Stewart and CFO Chien on April 2 at 1 pm hosted by UBS.