MGM Growth Properties has published the financial results for the quarter ended March 31, 2022. In this regard, it highlights that the consolidated rental income was approximately 180.5 million euros ($195.1 million).
MGM Growth Properties highlights the following financial highlights for the first quarter of 2022:
- Net income attributable to MGP Class A shareholders of $69.4 million (approximately €64.2 million)
- Consolidated net income of $116.5 million (approximately €107.8 million), or $0.43 per diluted Operating Partnership unit;
- Consolidated funds from operations of $191.4 million (approximately €177.1 million) or $0.71 per diluted operating company unit;
- Consolidated Adjusted Funds from Operations of $184.6 million (approximately €170.8 1 million) or $0.69 per unit of diluted Operating Company;
- Consolidated Adjusted EBITDA of $253.6 million (approximately €234.7 million);
- General and administrative expenses of $3.6 million (approximately €3.3 million);
- Non-consolidated affiliate income of $25.4 million (approximately €23.5 million).
In closing, the company confirms that, as of March 31, 2022, there were approximately 268.1 million operating company units outstanding in the operating company, of which MGM owned approximately 111.4 million, or 41.5%, while that MGP owns the remaining 58.5%.
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