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MGM Growth Properties LLC (MGP) Files 10-K for the Fiscal Year Ended on December 31, 2018

- By insider

MGM Growth Properties LLC (MGP) files its latest 10-K with SEC for the fiscal year ended on December 31, 2018. MGM Growth Properties LLC is a REIT engaged in owning, acquiring and leasing casino resort properties, which include casino gaming, hotel, convention, dining, entertainment, retail and mixed-use facilities, and other resort amenities. MGM Growth Properties LLC has a market cap of $9.13 billion; its shares were traded at around $30.60 with a P/E ratio of 33.27 and P/S ratio of 8.77. The dividend yield of MGM Growth Properties LLC stocks is 5.68%.


For the last quarter MGM Growth Properties LLC reported a revenue of $284.0 million, compared with the revenue of $214.5 million during the same period a year ago. For the latest fiscal year the company reported a revenue of $1 billion, an increase of 30.9% from last year.

The reported diluted earnings per share was 94 cents for the year, an increase of 40.3% from previous year. The MGM Growth Properties LLC had a decent operating margin of 50.44%, compared with the operating margin of 52.87% a year before. The 10-year historical median operating margin of MGM Growth Properties LLC is 44.50%. The profitability rank of the company is 6 (out of 10).

At the end of the fiscal year, MGM Growth Properties LLC has the cash and cash equivalents of $59.8 million, compared with $259.7 million in the previous year. The long term debt was $4.7 billion, compared with $3.9 billion in the previous year. The interest coverage to the debt is 2.3, which is not a favorable level. MGM Growth Properties LLC has a financial strength rank of 4 (out of 10).

At the current stock price of $30.60, MGM Growth Properties LLC is traded at 10.2% premium to its historical median P/S valuation band of $27.76. The P/S ratio of the stock is 8.77, while the historical median P/S ratio is 7.92. The stock gained 23.98% during the past 12 months.

For the complete 20-year historical financial data of MGP, click here.

This article first appeared on GuruFocus.