Gaming and Leisure Properties (NASDAQ:GLPI) Lowered to Hold at BidaskClub

BidaskClub downgraded shares of Gaming and Leisure Properties (NASDAQ:GLPI) from a buy rating to a hold rating in a report released on Friday morning, BidAskClub reports.

A number of other brokerages also recently commented on GLPI. Zacks Investment Research upgraded shares of Gaming and Leisure Properties from a sell rating to a hold rating in a research note on Tuesday, September 10th. Morgan Stanley set a $47.00 target price on shares of Gaming and Leisure Properties and gave the stock a buy rating in a research note on Friday, August 9th. Nomura set a $42.00 target price on shares of Gaming and Leisure Properties and gave the stock a hold rating in a research note on Wednesday, August 7th. Finally, Scotiabank began coverage on shares of Gaming and Leisure Properties in a research note on Monday, July 29th. They set an outperform rating for the company. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $43.22.

Shares of GLPI stock opened at $38.12 on Friday. The company has a current ratio of 4.80, a quick ratio of 4.80 and a debt-to-equity ratio of 2.78. The firm has a fifty day moving average price of $38.15 and a 200 day moving average price of $38.73. The company has a market cap of $8.17 billion, a P/E ratio of 11.99, a PEG ratio of 1.27 and a beta of 0.53. Gaming and Leisure Properties has a 12 month low of $31.19 and a 12 month high of $40.82.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.33). The firm had revenue of $289.01 million for the quarter, compared to analyst estimates of $289.64 million. Gaming and Leisure Properties had a return on equity of 14.98% and a net margin of 29.69%. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.43 EPS. On average, equities analysts forecast that Gaming and Leisure Properties will post 3.33 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be paid a $0.68 dividend. The ex-dividend date is Thursday, September 5th. This represents a $2.72 annualized dividend and a yield of 7.14%. Gaming and Leisure Properties’s dividend payout ratio is presently 85.53%.

In related news, SVP Matthew Demchyk acquired 5,000 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was bought at an average price of $37.57 per share, for a total transaction of $187,850.00. Following the completion of the purchase, the senior vice president now directly owns 42,500 shares of the company’s stock, valued at approximately $1,596,725. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.05% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC boosted its stake in Gaming and Leisure Properties by 100.3% in the first quarter. Signaturefd LLC now owns 721 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 361 shares in the last quarter. MUFG Americas Holdings Corp acquired a new stake in shares of Gaming and Leisure Properties during the second quarter worth about $38,000. DekaBank Deutsche Girozentrale boosted its stake in shares of Gaming and Leisure Properties by 237.1% during the second quarter. DekaBank Deutsche Girozentrale now owns 2,616 shares of the real estate investment trust’s stock worth $101,000 after buying an additional 1,840 shares during the period. Altshuler Shaham Ltd boosted its stake in shares of Gaming and Leisure Properties by 122.2% during the second quarter. Altshuler Shaham Ltd now owns 2,682 shares of the real estate investment trust’s stock worth $105,000 after buying an additional 1,475 shares during the period. Finally, Bessemer Group Inc. acquired a new stake in shares of Gaming and Leisure Properties during the second quarter worth about $119,000. Institutional investors own 89.54% of the company’s stock.

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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