Last10K.com

Mgm Growth Properties Operating Partnership Lp (1691299) SEC Filing 10-Q Quarterly report for the period ending Wednesday, September 30, 2020

SEC Filings

Mgm Growth Properties Operating Partners

CIK: 1691299

Exhibit 99.1
g275168g1105051634256a051.jpg
MGM GROWTH PROPERTIES REPORTS THIRD QUARTER FINANCIAL RESULTS
Las Vegas, Nevada, November 2, 2020
– MGM Growth Properties LLC (“MGP” or the “Company”) (NYSE: MGP) today reported financial results for the quarter ended September 30, 2020. Earnings attributable to MGP’s Class A shareholders for the quarter was $43.4 million, or $0.34 per diluted share.
Other financial highlights for the third quarter of 2020 included:
Rental revenue of $188.3 million;
Consolidated net income of $97.4 million, or $0.32 per diluted Operating Partnership unit;
Funds From Operations(1) (“FFO”) of $166.1 million, or $0.55 per diluted Operating Partnership unit;
Adjusted Funds From Operations(2) (“AFFO”) of $173.5 million, or $0.57 per diluted Operating Partnership unit;
Adjusted EBITDA(3) of $240.6 million;
General and administrative expenses of $3.5 million; and
Income from unconsolidated affiliate of $25.2 million.
“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,” said James Stewart, CEO of MGM Growth Properties. “We continued to collect 100% of our rent through October, demonstrating the strength of our master lease and liquidity position of our tenant despite the ongoing economic challenges caused by COVID-19. We continue to seek opportunities to grow our portfolio and execute on our business strategy to prudently deliver shareholder value.”


Page 1 of 7

The following information was filed by Mgm Growth Properties Operating Partnership Lp on Monday, November 2, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Mgm Growth Properties Operating Partnership Lp's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Mgm Growth Properties Operating Partnership Lp.

Continue

Assess how Mgm Growth Properties Operating Partnership Lp's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Mgm Growth Properties Operating Partnership Lp's Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income (Loss)
Condensed Consolidated Statements Of Operations
Condensed Consolidated Statements Of Partners' Capital
Condensed Consolidated Statements Of Partners' Capital (Parenthetical)
Condensed Consolidated Statements Of Shareholders' Equity
Condensed Consolidated Statements Of Shareholders' Equity (Parenthetical)
Business
Business - Narrative (Details)
Commitments And Contingencies
Commitments And Contingencies - Narrative (Details)
Debt
Debt - (Tables)
Debt - Debt Outstanding (Details)
Debt - Narrative (Details)
Derivatives And Hedging Activities
Derivatives And Hedging Activities - (Tables)
Derivatives And Hedging Activities - Narrative (Details)
Derivatives And Hedging Activities - Schedule Of Interest Rate Derivatives (Details)
Earnings Per Class A Share
Earnings Per Class A Share (Details)
Earnings Per Class A Share - (Tables)
Earnings Per Operating Partnership Unit
Earnings Per Operating Partnership Unit (Details)
Earnings Per Operating Partnership Unit - (Tables)
Investment In Unconsolidated Affiliate
Investment In Unconsolidated Affiliate - (Tables)
Investment In Unconsolidated Affiliate - Mgp Breit Venture Operations (Details)
Investment In Unconsolidated Affiliate - Narrative (Details)
Leases
Leases - (Tables)
Leases - Narrative (Details)
Leases - Operating Lease Minimum Rental Payments (Details)
Real Estate Investments
Real Estate Investments - (Tables)
Real Estate Investments - Carrying Value Of Investments (Details)
Real Estate Investments - Narrative (Details)
Shareholders' Equity And Partners' Capital
Shareholders' Equity And Partners' Capital - (Tables)
Shareholders' Equity And Partners' Capital - Changes In Accumulated Other Comprehensive Income (Details)
Shareholders' Equity And Partners' Capital - Narrative (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies - (Policies)
Summary Of Significant Accounting Policies - (Tables)
Summary Of Significant Accounting Policies - Narrative (Details)
Summary Of Significant Accounting Policies - Redeemable Noncontrolling Interest (Details)
CIK: 1691299
Form Type: 10-Q Quarterly Report
Accession Number: 0001656936-20-000059
Submitted to the SEC: Mon Nov 02 2020 9:15:53 AM EST
Accepted by the SEC: Mon Nov 02 2020
Period: Wednesday, September 30, 2020
Industry: Real Estate Investment Trusts

External Resources:

Bookmark the Permalink:
https://last10k.com/sec-filings/1691299/0001656936-20-000059.htm