MGM Growth Properties (MGP) Misses Q1 EPS by 2c, Revenues Miss

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MGM Growth Properties Reports First Quarter Financial Results

April 30, 2019 8:45 AM EDT

LAS VEGAS, April 30, 2019 /PRNewswire/ -- MGM Growth Properties LLC ("MGP" or the "Company") (NYSE: MGP) today reported financial results for the quarter ended March 31, 2019 for its real estate investment trust ("REIT") operations and its taxable REIT subsidiary ("TRS") operations. Net income attributable to MGP Class A shareholders for the quarter was $20.0 million, or $0.24 per diluted share.

Financial highlights for the first quarter of 2019:

Rental revenue was $196.9 million; Consolidated net income was $66.4 million, or $0.23 per diluted Operating Partnership unit; which consisted of $53.6 million of net... More