- Net Asset Value (NAV) is $31.18, indicating a fair valuation compared to current market price of $30.68.
- P/FFO and P/AFFO indicate fair valuation relative to peers VICI and GLPI.
- REIT investors should look to buy at a meaningful discount to NAV, particularly in today's environment.
- MGP is a great business that should experience strong rent growth coming out of the pandemic with the projected rapid growth in sports betting and iGaming.
- If MGP shares drops back to $25.76 or below, a buy would be warranted.
For further details see:
MGM Growth Properties: No Longer A Buy