MGM Growth Properties LLC

Symbol: MGP
CIK: 1656936
Exchange: NYSE
Founded: 2015 (4 years)
HQ: Las Vegas, NV, United States
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Mid-Cap
REIT Sector: Hotel, Resorts

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See MGP on SEC.gov

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Overall Score: 7.4

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REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The overall score is out of ten points, with ten being the best score. Learn More


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Hightlights of Trading Day December 6, 2019


Open Price: $29.92
Closing Price: $30
Price Change: 0.14 (0.469%)
Lowest Price: $29.75
Highest Price: $30.1

52-Week Low: $25.50
52-Week High: $33.30
52-Week Change: 3.09%

5 Day Price Change: -3.65%
1 Month Price Change: -6.57%
3 Month Price Change: -4.66%
6 Month Price Change: -2.77%
YTD Price Change: 13.93%
1 Year Price Change: 2.61%
2 Year Price Change: 2.93%
5 Year Price Change: 35.67%

Dividend of Trading Day December 6, 2019


Dividend Yield: 6.267%*
Annualized Dividend: $1.88*
Dividend Yield (TTM): 6.167%
Annualized Dividend (TTM): $1.85
Ex Dividend Date: 2019-09-27
Dividend Frequency: Quarterly

*The forward annualized dividend and dividend yield are based on the most recent dividend value paid by the REIT. The REIT may have already announced their next upcoming dividend value, which may be different from previously paid dividend value. It is recommended to check the REIT's website and dividend announcements for the latest information on upcoming dividends and changes.

Latest News Headlines


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Funds From Operations (FFO)


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Key Stats of Trading Day December 6, 2019


Total Cash: $59,817,000
Current Debt: $24,375,000
Revenue: $1,002,444,000
Gross Profit: $500,824,000
Total Revenue: $1,002,444,000
Earnings Before Interest, Taxes & Depreciation Amortization (EBITDA): $749,476,000
Revenue Per Share: $9
Revenue Per Employee: N/A
Employee: N/A
Debt to Equity Ratio (D/E): 2.98
Profit Margin: 0.07%
Enterprise Value (EV): $8,021,342,030
Enterprise Value to Revenue (EV/R): 8.00
Price to Sales (P/S): 3.41
Price to Book (P/B): 2.18
Peg Ratio: -2.75
P/E Ratio: 30.57
P/E High: 33.98
P/E Low: 26.02
Forward P/E Ratio: 30.93
Market Capitalization: $3,414,210,030
Beta: 0.53
Latest Volume: 1,907,010.00
Avg. Total Volume: 1,845,125
Avg. 10 Volume: 2,002,610.10
Avg. 30 Volume: 1,845,124.83
TTM EPS: 0.98
TTM Dividend Rate: 1.85
Shares Outstanding: 113,807,000
Float: 112,943,432.48
50-Day Moving Avg.: 30.89
200-Day Moving Avg.: 30.89

Latest REIT Community Comments on #MGP


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Properties Owned by MGP


Properties owned:
28
Types:
1
States:
9
Countries:
1
Sample of REIT’s Properties (Image Source - REIT’s website) | See more pictures
MGP Sample Property
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Occupancy Rate


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Dividend History


Below are the most recent cash dividends paid by MGP, and the Ex-Dividend Date of the dividend. The percent difference from one dividend payment to the next has also been calculated for your convenience.


Symbol Ex Date Cash Amount Change in Dividend Declaration Date Record Date Payment Date

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Financial Statements Overview

Balance Sheet (Quarterly)

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Amounts in USD ($)

Balance Sheet 2019-09-30 2019-06-30 2019-03-31 2018-12-31
Current Cash 153,526,000 0 74,050,000 59,817,000
Receivables 0 0 0 0
Inventory 0 0 0 0
Current Assets 0 0 0 0
Current Assets (Other) 0 0 0 0
Short Term Investments 0 0 0 0
Long-term Investments 3,400,000 0 0 0
Property, Plant & Equipment Net 280,020,000 0 1,057,120,000 784,295,000
Goodwill 0 0 17,915,000 17,915,000
Intangible Assets 41,834,000 0 292,942,000 294,228,000
Other Assets 556,199,000 560,944,000 578,353,000 37,837,000
Net Tangible Assets 2,074,510,000 2,033,220,000 2,019,667,000 1,234,127,000
Total Assets 11,929,563,000 11,912,808,000 12,326,685,000 10,951,307,000
Accounts Payable 0 0 0 0
Liabilities (Other) 331,678,000 307,511,000 299,963,000 405,218,000
Current Liabilities (Other) 138,730,000 136,671,000 139,279,000 119,055,000
Total Current Liabilities 0 0 0 0
Current Long-term Debt 7,600,000 0 19,800,000 24,375,000
Long-term Debt 5,171,719,000 5,189,044,000 5,240,199,000 4,642,574,000
Total Liabilities 5,545,259,000 5,526,276,000 5,609,768,000 5,105,801,000
Minority Interest 46,038,000 45,911,000 46,409,000 49,946,000
Common Stock 95,468,067 0 0 0
Retained Earnings -216,824,000 -194,469,000 -173,017,000 -150,908,000
Treasury Stock 0 0 0 0
Capital Surplus 2,307,463,000 2,237,385,000 2,210,545,000 1,712,671,000
Shareholder Equity 2,074,510,000 2,033,220,000 2,037,582,000 1,565,971,000

Income Statement (Quarterly)

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Amounts in USD ($)

Income Statement 2019-09-30 2019-06-30 2019-03-31 2018-12-31
Total Revenue 227,292,000 225,759,000 271,264,000 283,994,000
Cost of Revenue 87,798,000 85,773,000 126,971,000 145,446,000
Gross Profit 139,494,000 139,986,000 144,293,000 138,548,000
Research and Development 0 0 0 0
Selling General and Admin 0 0 0 0
Operating Expense 92,274,000 89,464,000 131,208,000 151,539,000
Operating Income 134,926,000 136,028,000 131,264,000 130,663,000
Income Expense Net (Other) -64,394,000 -64,238,000 -62,239,000 -59,037,000
EBIT 134,926,000 136,028,000 131,264,000 130,663,000
Interest Income 64,329,000 63,977,000 63,948,000 58,283,000
Pretax Income 70,532,000 71,790,000 69,025,000 71,626,000
Income Tax 1,979,000 4,021,000 2,661,000 3,075,000
Minority Interest 46,038,000 45,911,000 46,409,000 49,946,000
Net Income 22,515,000 21,858,000 19,955,000 18,605,000
Net Income Basic 22,515,000 21,858,000 19,955,000 18,605,000

Cash Flow

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Amounts in USD ($)

Cash Flow 2019-09-30 2019-06-30 2019-03-31 2018-12-31
Net Income 22,515,000 21,858,000 19,955,000 18,605,000
Depreciation 71,957,000 0 75,009,000 70,160,000
Changes in Receivables 0 0 0 0
Changes in Inventories 0 0 0 0
Cash Change 99,960,000 0 14,233,000 10,317,000
Cash Flow 159,473,000 0 -439,533,000 147,120,000
Capital Expenditures 0 0 -12,000 -783,000
Investments 0 0 0 0
Investing Activity (Other) 0 0 0 0
Total Investing Cash Flows 0 0 -12,000 -783,000
Dividends Paid -136,671,000 0 -119,055,000 -116,395,000
Net Borrowings -7,563,000 -24,442,000 24,442,000 -19,625,000
Cash Flow Financing -59,513,000 -24,442,000 453,778,000 -136,020,000
Financing Cash Flows (Other) -1,342,000 0 0 0
Exchange Rate Effect 0 0 0 0

About MGM Growth Properties LLC


MGM Growth Properties LLC (NYSE:MGP) is one of the leading publicly traded real estate investment trusts engaged in the acquisition, ownership and leasing of large-scale destination entertainment and leisure resorts, whose diverse amenities include casino gaming, hotel, convention, dining, entertainment and retail offerings. MGP currently owns a portfolio of properties acquired from MGM Resorts, consisting of 11 premier destination resorts in Las Vegas and elsewhere across the United States, including the recently acquired MGM National Harbor, and one dining and entertainment complex which opened in April 2016. As of December 31, 2016, these properties collectively comprise 27,541 hotel rooms, over 2.65 million convention square footage, over 100 retail outlets, over 200 food and beverage outlets and over 20 entertainment venues. As a growth-oriented public real estate entity, MGP expects its relationship with MGM Resorts and other entertainment providers to attractively position MGP for the acquisition of additional properties across the entertainment, hospitality and leisure industries that MGM Resorts or other entertainment providers may develop in the future.

REITRating™ Scorecard


Rating Dividend Section Avg. Rating
2 Dividend Payment Consistency: Analysis of how many periods the REIT’s dividends have been paid consistently without a gap in payment. 6.2
10 Dividend to AFFO Payout Ratio Health: Analysis of the REIT’s Dividend to AFFO Payout Ratios during the last four quarters. 8.9
10 Dividend to AFFO Payout Ratio Trend: Analysis of the REIT’s Dividend to AFFO Payout Ratios trend during the last two years. 7.8
Rating AFFO & Efficiency Section Avg. Rating
10 AFFO Trend: Analysis of the REIT’s AFFO trend during the last two years. 8.7
6 AFFO to Revenue Health: Analysis of the REIT's Adjusted Funds From Operation to its Revenues. 6.7
9 Operating Expense Efficiency: Analysis of the REIT's Operating Expenses to its Revenues. 7.1
6 Operating Expense Efficiency Trend: Analysis of the trend of the REIT's Operating Expenses to its Revenue. 7.9
Rating Leverage Section Avg. Rating
4 Interest Coverage Health: Analysis of the REIT’s Interest Coverage health during the last four quarter. 5.0
4 Interest Coverage Health Trend: Analysis of the REIT’s Interest Coverage health trend during the last two years. 5.7
6 Total Debt Interest Rate Competitiveness: Analysis of the REIT’s Interest Rate to Total Debt competitiveness compared to REIT market. 7.8
6 Total Debt Interest Rate Trend: Analysis of the REIT’s Interest Rate to Total Debt trend during the last two years. 7.4
7 Debt Leverage Health: Analysis of the REIT’s Total Debt to Total Assets. 5.2
8 Debt Leverage Health Trend: Analysis of the REIT’s Total Debt to Total Assets over the last two years. 6.9
Rating Asset & Revenue Section Avg. Rating
9 Revenues Growth: Analysis of how the REIT's Revenue has performed over the last two years. 6.8
10 Total Asset Growth: Analysis of how the REIT has grown its Total Assets over the last two years. 7.3
Rating Properties Section Avg. Rating
8 Occupancy Health Level: Analysis of the REIT’s occupancy health level during the last four quarters. 8.3
9 Occupancy Trend: Analysis of the REIT’s occupancy trend over the last two years. 8.2
8 Portfolio of Properties: Analysis of the REIT's property's strength, size, and geographic distribution. 8.2
6 Tenants: Analysis of the REIT's tenant diversification, operation type, and exposure to risk. 7.9
7.4 Overall REITRating™ Score 6.4

REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The REIT’s score for each analysis is out of ten points, with ten being the best score and zero being the worst. A score of zero can be assigned if the REIT does not meet the criteria for that specific analysis. N/A is assigned if insufficient data is available for a particular analysis. Our REITRating logic is continuously improving, so a REIT’s rating and ranking may change over time. Important Note: REITRating is not a predictor of a REIT’s future performance, it is an evaluation of its past results. Additionally, the REITRating system is for informational purposes only and does not represent financial or investment advice or a recommendation of which REITs to acquire. Learn more.

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