MGM Growth Properties (MGP) Tops Q4 FFO by 7c

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MGM Growth Properties LLC Reports Fourth Quarter And Full Year Financial Results

February 16, 2017 7:42 AM EST

LAS VEGAS, Feb. 16, 2017 /PRNewswire/ -- MGM Growth Properties LLC ("MGP" or the "Company") (NYSE: MGP) today reported financial results for the quarter and year ended December 31, 2016. Net income attributable to MGP Class A shareholders for the quarter was $12.4 million, or $0.21 per dilutive share.

Financial highlights for the fourth quarter of 2016:

Rental revenue was $163.2 million; Net income was $51.0 million; Funds From Operations(1) ("FFO") was $114.8 million, or $0.47 per diluted Operating Partnership unit; Adjusted Funds From Operations(2) ("AFFO") was $118.7... More