MGM Growth: 3Q Earnings Snapshot

LAS VEGAS (AP) _ MGM Growth Properties LLC (MGP) on Monday reported a key measure of profitability in its third quarter.

The Las Vegas-based real estate investment trust said it had funds from operations of $173.5 million, or 57 cents per share, in the period.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $43.4 million, or 34 cents per share.

The real estate investment trust posted revenue of $194.3 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $195.1 million.

The company's shares have decreased 12% since the beginning of the year. The stock has declined 13% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MGP at https://www.zacks.com/ap/MGP

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