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home / news releases / MGP - MGM Growth Properties lands higher price target from Union Gaming

MGP - MGM Growth Properties lands higher price target from Union Gaming

MGM Growth Properties LLC Class A representing limited liability company interests
Union Gaming boosts its price target on Buy-rated MGM Growth Properties (MGP) to $39.Analyst John DeCree: "MGP collected all of its cash rents, increased its annual dividend, and deployed growth capital for the purchase of OP Units from MGM. Core to our favorable thesis on MGP and the Casino REIT sector overall has long been the durability of its rental income and this was clearly proven in 2020."MGP is said to be locked and loaded with $2B of capital.DeCree says the new price target still implies a very attractive 5% dividend yield considering the favorable risk profile and represents a 15X multiple of the firm's 2022 AFFO. The average sell-side PT is $35.03.

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MGM Growth Properties lands higher price target from Union Gaming
Stock Information
Company Name: MGM Growth Properties LLC Class A representing limited liability company interests
Stock Symbol: MGP
Market: NYSE
Website: mgmgrowthproperties.com
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