Gaming and Leisure Properties (NASDAQ:GLPI) Cut to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Gaming and Leisure Properties (NASDAQ:GLPI) from a buy rating to a hold rating in a report released on Tuesday morning, Zacks.com reports.

According to Zacks, “Gaming and Leisure Properties, Inc. is a self-administered, self-managed REIT primarily engaged in the property business, which will consist of owning, acquiring, developing, expanding, managing, and leasing gaming and related facilities. Gaming and Leisure Properties, Inc. is based in United States. “

A number of other equities research analysts have also issued reports on GLPI. Barclays reaffirmed a buy rating on shares of Gaming and Leisure Properties in a research note on Tuesday, August 4th. SunTrust Banks cut their target price on shares of Gaming and Leisure Properties from $56.00 to $30.00 and set a buy rating on the stock in a research note on Wednesday, April 22nd. Wolfe Research assumed coverage on shares of Gaming and Leisure Properties in a research note on Wednesday, June 24th. They set an outperform rating and a $46.00 target price on the stock. BidaskClub lowered shares of Gaming and Leisure Properties from a strong-buy rating to a buy rating in a research note on Thursday, July 9th. Finally, Nomura lifted their target price on shares of Gaming and Leisure Properties from $29.00 to $38.00 in a research note on Thursday, June 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Gaming and Leisure Properties has an average rating of Buy and a consensus price target of $40.40.

Shares of Gaming and Leisure Properties stock traded down $0.32 on Tuesday, hitting $37.88. 8,786 shares of the company traded hands, compared to its average volume of 1,984,212. The company has a market cap of $8.65 billion, a P/E ratio of 19.67, a P/E/G ratio of 2.80 and a beta of 1.00. The firm’s 50-day simple moving average is $35.18 and its 200 day simple moving average is $35.19. Gaming and Leisure Properties has a 12-month low of $12.78 and a 12-month high of $49.99. The company has a current ratio of 4.81, a quick ratio of 4.81 and a debt-to-equity ratio of 2.83.

Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.28). The firm had revenue of $261.97 million during the quarter, compared to the consensus estimate of $259.53 million. Gaming and Leisure Properties had a return on equity of 19.97% and a net margin of 36.90%. Analysts predict that Gaming and Leisure Properties will post 3.29 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Monday, August 17th will be given a dividend of $0.60 per share. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.55. This represents a $2.40 dividend on an annualized basis and a yield of 6.34%. The ex-dividend date is Friday, August 14th. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 13.95%.

A number of hedge funds and other institutional investors have recently modified their holdings of GLPI. Paragon Capital Management LLC purchased a new position in Gaming and Leisure Properties in the first quarter worth about $25,000. Signaturefd LLC raised its holdings in Gaming and Leisure Properties by 46.1% in the second quarter. Signaturefd LLC now owns 1,055 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 333 shares during the last quarter. Parallel Advisors LLC raised its holdings in Gaming and Leisure Properties by 55.6% in the first quarter. Parallel Advisors LLC now owns 1,508 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 539 shares during the last quarter. Sowell Financial Services LLC raised its holdings in Gaming and Leisure Properties by 104.3% in the first quarter. Sowell Financial Services LLC now owns 1,622 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 828 shares during the last quarter. Finally, Emerald Advisers LLC purchased a new position in Gaming and Leisure Properties in the second quarter worth about $119,000. 86.89% of the stock is owned by institutional investors.

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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