Gaming and Leisure Properties (GLPI) Stock Rating Upgraded by BidaskClub

Gaming and Leisure Properties (NASDAQ:GLPI) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Wednesday.

GLPI has been the topic of several other reports. ValuEngine lowered shares of Gaming and Leisure Properties from a “hold” rating to a “sell” rating in a research note on Friday, August 3rd. Nomura began coverage on shares of Gaming and Leisure Properties in a research note on Wednesday, September 26th. They set a “neutral” rating and a $39.00 target price on the stock. Deutsche Bank increased their target price on shares of Gaming and Leisure Properties from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, September 26th. Jefferies Financial Group lowered their target price on shares of Gaming and Leisure Properties from $41.00 to $37.00 and set a “hold” rating on the stock in a research note on Friday, November 16th. Finally, Zacks Investment Research raised shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Thursday, October 4th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. Gaming and Leisure Properties has a consensus rating of “Hold” and a consensus price target of $39.55.

GLPI stock opened at $33.31 on Wednesday. The company has a debt-to-equity ratio of 2.31, a quick ratio of 10.00 and a current ratio of 10.00. Gaming and Leisure Properties has a 52-week low of $32.51 and a 52-week high of $37.29. The stock has a market cap of $7.13 billion, a PE ratio of 10.57, a PEG ratio of 1.23 and a beta of 0.75.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its earnings results on Thursday, November 1st. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.26). Gaming and Leisure Properties had a return on equity of 16.10% and a net margin of 38.95%. The firm had revenue of $254.14 million for the quarter, compared to analysts’ expectations of $255.55 million. During the same period in the previous year, the company earned $0.45 earnings per share. The company’s revenue was up 3.9% compared to the same quarter last year. Sell-side analysts forecast that Gaming and Leisure Properties will post 3.1 earnings per share for the current fiscal year.

In other Gaming and Leisure Properties news, Director Joseph W. Marshall III bought 1,000 shares of the firm’s stock in a transaction on Monday, November 19th. The shares were acquired at an average cost of $33.33 per share, with a total value of $33,330.00. Following the purchase, the director now directly owns 27,081 shares of the company’s stock, valued at approximately $902,609.73. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director E Scott Urdang bought 14,000 shares of the firm’s stock in a transaction on Monday, November 5th. The stock was acquired at an average cost of $33.72 per share, for a total transaction of $472,080.00. Following the completion of the purchase, the director now directly owns 76,971 shares in the company, valued at $2,595,462.12. The disclosure for this purchase can be found here. Insiders purchased a total of 26,000 shares of company stock worth $873,910 over the last ninety days. 5.88% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GLPI. Dynamic Technology Lab Private Ltd purchased a new position in Gaming and Leisure Properties in the 3rd quarter worth approximately $252,000. Rehmann Capital Advisory Group lifted its stake in Gaming and Leisure Properties by 3,411.0% in the 3rd quarter. Rehmann Capital Advisory Group now owns 8,918 shares of the real estate investment trust’s stock worth $253,000 after purchasing an additional 8,664 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in Gaming and Leisure Properties in the 2nd quarter worth approximately $273,000. Hilltop Holdings Inc. lifted its stake in Gaming and Leisure Properties by 28.8% in the 2nd quarter. Hilltop Holdings Inc. now owns 8,073 shares of the real estate investment trust’s stock worth $289,000 after purchasing an additional 1,803 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in Gaming and Leisure Properties by 29.0% in the 2nd quarter. Commonwealth Equity Services LLC now owns 8,099 shares of the real estate investment trust’s stock worth $290,000 after purchasing an additional 1,821 shares in the last quarter. 88.22% of the stock is currently owned by institutional investors and hedge funds.

Gaming and Leisure Properties Company Profile

GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties.

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Analyst Recommendations for Gaming and Leisure Properties (NASDAQ:GLPI)

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