Gaming and Leisure Properties (GLPI) Lifted to Hold at Zacks Investment Research

Gaming and Leisure Properties (NASDAQ:GLPI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

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. “

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Other equities analysts also recently issued research reports about the company. ValuEngine downgraded Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research report on Wednesday, April 4th. BidaskClub raised Gaming and Leisure Properties from a “strong sell” rating to a “sell” rating in a research report on Thursday, March 15th. Bank of America cut their price objective on Gaming and Leisure Properties from $33.00 to $31.00 and set an “underperform” rating on the stock in a research report on Friday, February 9th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Gaming and Leisure Properties in a research report on Friday, February 9th. Finally, Morgan Stanley cut their price objective on Gaming and Leisure Properties from $40.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Friday, February 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $38.13.

NASDAQ:GLPI opened at $33.73 on Wednesday. Gaming and Leisure Properties has a fifty-two week low of $32.51 and a fifty-two week high of $39.32. The firm has a market cap of $7,189.89, a P/E ratio of 10.71 and a beta of 0.80. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.80 and a current ratio of 0.80.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.33). Gaming and Leisure Properties had a net margin of 39.18% and a return on equity of 17.31%. The company had revenue of $240.70 million for the quarter, compared to analysts’ expectations of $243.27 million. During the same quarter in the previous year, the company posted $0.45 EPS. The business’s quarterly revenue was up .8% on a year-over-year basis. sell-side analysts forecast that Gaming and Leisure Properties will post 3.05 EPS for the current year.

In other news, CFO William J. Clifford purchased 54,606 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were acquired at an average price of $33.00 per share, with a total value of $1,801,998.00. Following the transaction, the chief financial officer now owns 320,674 shares of the company’s stock, valued at $10,582,242. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Peter M. Carlino purchased 40,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were purchased at an average cost of $33.33 per share, for a total transaction of $1,333,200.00. Following the transaction, the chief executive officer now directly owns 4,388,089 shares in the company, valued at approximately $146,255,006.37. The disclosure for this purchase can be found here. Corporate insiders own 5.88% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its position in shares of Gaming and Leisure Properties by 28.5% during the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 292,901 shares of the real estate investment trust’s stock worth $10,837,000 after buying an additional 64,900 shares in the last quarter. Eii Capital Management Inc. bought a new position in shares of Gaming and Leisure Properties during the 4th quarter worth $1,031,000. Vident Investment Advisory LLC grew its position in shares of Gaming and Leisure Properties by 73.4% during the 4th quarter. Vident Investment Advisory LLC now owns 23,335 shares of the real estate investment trust’s stock worth $863,000 after buying an additional 9,879 shares in the last quarter. Bramshill Investments LLC bought a new position in shares of Gaming and Leisure Properties during the 4th quarter worth $422,000. Finally, Millennium Management LLC grew its position in shares of Gaming and Leisure Properties by 74.2% during the 4th quarter. Millennium Management LLC now owns 4,692,928 shares of the real estate investment trust’s stock worth $173,638,000 after buying an additional 1,998,988 shares in the last quarter. 92.71% of the stock is currently owned by institutional investors and hedge funds.

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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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