MGM Growth Properties reports Q3 net income of $97m
Real Estate Investment Trust MGM Growth Properties reported Q3 net income of $97m, a 42% year-on-year jump.
The REIT earned rental revenue of $188m and adjusted EBITDA was $241m for the quarter.
Rental revenue fell $32m from a year ago.
MGM Growth Properties CEO James Stewart said they collected 100% of rent through October.
“We are pleased with our industry leading performance during the quarter and are further encouraged now that all the properties in our portfolio have been re-opened to the public,” Stewart said.
The company had $655m of cash or cash equivalents on September 30.
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