MGM Growth Properties (MGP) Tops Q1 FFO by 13c

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MGM Growth Properties Reports First Quarter Financial Results

April 30, 2021 8:45 AM EDT

LAS VEGAS, April 30, 2021 /PRNewswire/ -- MGM Growth Properties LLC ("MGP" or the "Company") (NYSE: MGP) today reported financial results for the quarter ended March 31, 2021. Net income attributable to MGP Class A shareholders for the quarter was $59.6 million, or $0.44 per dilutive share.

Financial highlights for the first quarter of 2021:

Consolidated rental revenue of $188.3 million; Consolidated net income of $115.4 million, or $0.42 per diluted Operating Partnership unit; Consolidated Funds From Operations(1) ("FFO") of $184.7 million, or $0.67 per diluted Operating Partnership unit; Consolidated Adjusted Funds From Operations(2) ("AFFO") of $166.9 million, or $0.60... More