ValuEngine Downgrades Gaming and Leisure Properties (NASDAQ:GLPI) to Sell

Gaming and Leisure Properties (NASDAQ:GLPI) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday, ValuEngine reports.

GLPI has been the topic of several other research reports. Nomura raised shares of Gaming and Leisure Properties from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $45.00 to $29.00 in a research report on Wednesday, March 25th. Deutsche Bank initiated coverage on shares of Gaming and Leisure Properties in a research report on Sunday, March 29th. They set a “buy” rating and a $46.00 target price on the stock. LADENBURG THALM/SH SH boosted their target price on shares of Gaming and Leisure Properties from $47.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. They noted that the move was a valuation call. Bank of America raised shares of Gaming and Leisure Properties from an “underperform” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Monday, January 6th. Finally, Zacks Investment Research raised shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Friday, March 20th. One equities research analyst has rated the stock with a sell rating and ten have given a buy rating to the company. Gaming and Leisure Properties presently has a consensus rating of “Buy” and a consensus target price of $39.38.

Shares of Gaming and Leisure Properties stock traded up $2.89 on Thursday, reaching $25.68. The stock had a trading volume of 2,978,177 shares, compared to its average volume of 1,982,807. The company has a 50 day moving average price of $36.82 and a 200 day moving average price of $40.80. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 2.85. Gaming and Leisure Properties has a 1 year low of $13.04 and a 1 year high of $50.99. The stock has a market capitalization of $5.25 billion, a P/E ratio of 14.19, a P/E/G ratio of 0.41 and a beta of 1.04.

In related news, SVP Brandon John Moore sold 5,000 shares of the business’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $49.00, for a total value of $245,000.00. Following the completion of the transaction, the senior vice president now directly owns 134,535 shares in the company, valued at approximately $6,592,215. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Desiree A. Burke sold 35,777 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $43.09, for a total transaction of $1,541,630.93. Following the completion of the transaction, the chief accounting officer now owns 139,944 shares of the company’s stock, valued at $6,030,186.96. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 27,500 shares of company stock valued at $761,300 and sold 50,777 shares valued at $2,246,631. Insiders own 6.05% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp lifted its stake in shares of Gaming and Leisure Properties by 3.5% in the 4th quarter. Van ECK Associates Corp now owns 74,551 shares of the real estate investment trust’s stock valued at $3,209,000 after purchasing an additional 2,533 shares during the period. Brasada Capital Management LP raised its position in Gaming and Leisure Properties by 10.9% during the fourth quarter. Brasada Capital Management LP now owns 30,211 shares of the real estate investment trust’s stock worth $1,301,000 after acquiring an additional 2,966 shares during the period. Evoke Wealth LLC acquired a new position in Gaming and Leisure Properties during the third quarter worth $47,000. Norges Bank acquired a new position in Gaming and Leisure Properties during the fourth quarter worth $91,241,000. Finally, Voya Investment Management LLC raised its position in Gaming and Leisure Properties by 9.1% during the third quarter. Voya Investment Management LLC now owns 320,428 shares of the real estate investment trust’s stock worth $12,253,000 after acquiring an additional 26,685 shares during the period. Hedge funds and other institutional investors own 88.27% of the company’s stock.

About Gaming and Leisure Properties

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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

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