MGM Growth Properties (MGP) Misses Q3 EPS by 1c

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MGM Growth Properties Reports Third Quarter Financial Results

November 5, 2019 8:45 AM EST

LAS VEGAS, Nov. 5, 2019 /PRNewswire/ -- MGM Growth Properties LLC ("MGP" or the "Company") (NYSE: MGP) today reported financial results for the quarter ended September 30, 2019. Net income attributable to MGP's Class A shareholders for the quarter was $22.5 million, or $0.24 per diluted share.

Other financial highlights for the third quarter of 2019 included:

Rental revenue of $219.8 million; Consolidated net income of $68.6 million, or $0.23 per diluted Operating Partnership unit; Funds From Operations(1) ("FFO") of $150.4 million, or $0.51 per diluted Operating Partnership unit; Adjusted Funds From Operations(2) ("AFFO") of $173.1 million, or $0.59 per... More