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Stock on the Run: MGM Growth Properties LLC (NYSE: MGP)

LAS VEGAS, July 1, 2019 – Shares of MGM Growth Properties LLC (NYSE: MGP) inclined 1.06% to $30.65. The stock traded total volume of 681.932K shares lower than the average volume of 767.56K shares.

MGM Growth Properties LLC (MGP) reported that it had funds from operations of $163.80M, or 57 cents per share, in the period.

Financial Position

The Company had $74.10M of cash and cash equivalents as of March 31, 2019. Cash received from rent payments under the Master Lease for the three months ended March 31, 2019 was $204.70M.

On April 15, 2019, the Operating Partnership made a cash distribution of $139.30M regarding the first quarter dividend, $97.20M of which was paid to auxiliaries of MGM Resorts and $42.10M of which was paid to MGP. Simultaneously, MGP paid a cash dividend of $0.465 per Class A share.

On January 25, 2019, the Operating Partnership issued $750.0M in aggregate principal amount of 5.75% senior notes due 2027.

On January 31, 2019, the Company accomplished an offering of about 19.60M shares representing limited liability company interests in a registered public offering, which included about 2.60M shares sold following the exercise in full by the underwriters of their over-allotment option, for net proceeds of $548.40M after deducting underwriting discounts and commissions and offering expenses. The net proceeds were contributed to the Operating Partnership in exchange for Operating Partnership units.

MGP has the market capitalization of $12.10B and its EPS growth ratio for the past five years was 16.90%. The return on assets ratio of the Company was 0.60% while its return on investment ratio stands at 7.50%. Price to sales ratio was 11.44 while 81.83% of the stock was owned by institutional investors.