MGM Growth Properties LLC (NYSE:MGP) is expected to report third quarter earnings results, before market open, on Monday 2nd November 2020.
Analysts polled by Thomson Reuters anticipate third quarter income of $ 0.32 per share.
Looking ahead, the full year income are expected at $ 0.54 per share on the revenues of $ 796.09 million.
Previous Quarter Performance
MGM Growth Properties LLC outlined income for the second quarter of $ 0.56 per share, from the revenue of $ 194.34 million. The quarterly earnings improved 133.33 percent while revenues shrunk 13.92 percent compared with the same quarter last year.
According to street consensus, MGP was expected to report 2Q20 income of $ 0.32 per share from revenue of $ 198.76 million. The bottom line results beat street analysts by $ 0.24 or 75.00 percent, at the same time, top line results fell short of analysts by $ 4.42 million or 2.22 percent.
Stock Performance
On Friday, shares of MGM Growth Properties LLC has traded high as $ 26.61 and has cracked $ 26.12 on the downward trend, reaching $ 26.45 with volume of 1.07 million shares.
According to the previous trading day, closing price of $ 26.45, representing a 133.16 % increase from the 52 week low of $ 11.43 and a 22.46 % decrease over the 52 week high of $ 34.37.
The company has a market capital of $ 8.03 billion and is part of the Real Estate sector and REIT – Hotel & Motel industry.
Conference Call
MGM Growth Properties LLC will be hosting a conference call at 12:30 PM eastern time on 2nd November 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.mgmgrowthproperties.com
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, consisting of 11 premier destination resorts in Las Vegas and elsewhere across the United States, the MGM Northfield Park in Northfield, OH, Empire Resort Casino in Yonkers, NY, as well as a retail and entertainment district, The Park in Las Vegas. As of December 31, 2018, our destination resorts, the Park, and MGM Northfield Park collectively comprise approximately 27,400 hotel rooms, 2.7 million convention square footage, 150 retail outlets, 300 food and beverage outlets and 20 entertainment venues.
