MGM Growth Properties LLC.

MGP-N

NYSE:MGP

29.28
0.21 (0.72%)
MGM Growth Properties LLC is a real estate investment trust that invests in large-scale destination entertainment and leisure resorts. As of December 31, 2017, the company owned 12 properties, all of which were operated by MGM Resorts International, comprising 27,541 hotel rooms.
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Analysis and Opinions about MGP-N

Signal
Opinion
Expert
TOP PICK
TOP PICK
December 2, 2019

Was a spin-out of MGM (the casino). They structure a master lease to this parent. These rents are bullet-proof. Cash flows within MGM are strong (from gambling), even if there will be a recession. You're buying good long-term cash flow, supported by an investment-grade tenant. Also, they can buy more quality assets, some within gambling, some outside, which leads to more accretion. Offers stability yet growth. Pays a 6.1% yield. (Analysts’ price target is $36.15)

Was a spin-out of MGM (the casino). They structure a master lease to this parent. These rents are bullet-proof. Cash flows within MGM are strong (from gambling), even if there will be a recession. You're buying good long-term cash flow, supported by an investment-grade tenant. Also, they can buy more quality assets, some within gambling, some outside, which leads to more accretion. Offers stability yet growth. Pays a 6.1% yield. (Analysts’ price target is $36.15)

Joshua Varghese
Portfolio manager, Signature Global Asset Management, CI Investments
Price
$30.300
Owned
Yes
TOP PICK
TOP PICK
October 9, 2019
The spin off MGM Resorts -- the casino operator. The properties are leased back to the casino operator. The lease is low cost to the REIT. A strong business set up for the macro risks out there. A relatively new REIT structure that could catch on with investors. Yield 6.27% (Analysts’ price target is $35.73)
The spin off MGM Resorts -- the casino operator. The properties are leased back to the casino operator. The lease is low cost to the REIT. A strong business set up for the macro risks out there. A relatively new REIT structure that could catch on with investors. Yield 6.27% (Analysts’ price target is $35.73)
Joshua Varghese
Portfolio manager, Signature Global Asset Management, CI Investments
Price
$30.090
Owned
Yes
BUY
BUY
April 1, 2019
It is a spin-out of MGM. It owns a lot of their properties. They have a good cost of equity. It has a solid yield and has accretion through their acquisition story.
It is a spin-out of MGM. It owns a lot of their properties. They have a good cost of equity. It has a solid yield and has accretion through their acquisition story.
Joshua Varghese
Portfolio manager, Signature Global Asset Management, CI Investments
Price
$32.190
Owned
Unknown
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