UPDATE: UBS Starts MGM Growth Properties (MGP) at Buy

September 26, 2016 7:11 AM EDT
Get Alerts MGP Hot Sheet
Price: $25.01 +0.77%

Rating Summary:
    5 Buy, 4 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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(Updated - September 26, 2016 7:59 AM EDT)

UBS initiated coverage on MGM Growth Properties (NYSE: MGP) with a Buy rating and $28 price target.

Analyst Robin Farley commented, "MGP's growth drivers include: ~$60M of rental revenue coming from lease escalators & ~$160M of rent coming from MGP's potential acquisition of Maryland & Springfield projects. Given the factors we note above, we value MGP at lower end of historic range for triple net lease names, and GLPI at a discount to that based on historic discount that other Triple Net Lease names trade relative to the 2 largest & most premium."

For an analyst ratings summary and ratings history on MGM Growth Properties click here. For more ratings news on MGM Growth Properties click here.

Shares of MGM Growth Properties closed at $26.18 yesterday.

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