#RAGETRADE – Bought MGP
Sneaky Falcon Enterprises, LLC has purchased 75 shares of MGM Growth Properties (Ticker NYSE:MGP).
For the original recommendation presentation, see MGM Growth Properties – Investment Recommendation.
The 75 shares were bought at a price of $28.90, for a total cost basis of $2,174.45 (with commission). Sneaky Falcon is officially in the gaming & casino business. About damn time.
MGM Growth Properties, spun off from parent company MGM International (Ticker NYSE:MGM), is a casino REIT company. MGP holds and manages many of the hard real estate assets for MGM.
The casino market has been on a tear in the last 12 months, with continued growth in Asia and Las Vegas. This purchase gives us exposure to that with the safety (and high dividend) associated with it’s REIT status.
Similar to our last purchase of Fluor, we have tried to shift our cash into slightly more conservative, dividend paying holdings to generate some return while we regroup and strategize a go forward plan with our investments.
Check out our portfolio page, where you can see what else we are invested in and how we are doing.