Gaming and Leisure Properties (GLPI) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Gaming and Leisure Properties (NASDAQ:GLPI) from a hold rating to a buy rating in a research note released on Friday morning. Zacks Investment Research currently has $40.00 target price on the real estate investment trust’s stock.

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. “

Several other equities analysts also recently weighed in on the stock. Barclays raised their price target on shares of Gaming and Leisure Properties from $45.00 to $48.00 and gave the stock an overweight rating in a research note on Monday, November 19th. BidaskClub downgraded shares of Gaming and Leisure Properties from a sell rating to a strong sell rating in a research note on Saturday, November 3rd. Jefferies Financial Group reduced 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. SunTrust Banks reaffirmed a buy rating and set a $39.00 target price on shares of Gaming and Leisure Properties in a research note on Tuesday, October 2nd. Finally, ValuEngine raised shares of Gaming and Leisure Properties from a sell rating to a hold rating in a research note on Friday, September 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. Gaming and Leisure Properties currently has a consensus rating of Hold and an average price target of $39.64.

NASDAQ:GLPI opened at $36.46 on Friday. The company has a current ratio of 10.00, a quick ratio of 10.00 and a debt-to-equity ratio of 2.31. The stock has a market capitalization of $7.81 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 1.25 and a beta of 0.68. Gaming and Leisure Properties has a twelve month low of $31.19 and a twelve month high of $36.97.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings results on Thursday, November 1st. The real estate investment trust reported $0.49 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.26). The business had revenue of $254.14 million during the quarter, compared to analysts’ expectations of $255.55 million. Gaming and Leisure Properties had a return on equity of 16.10% and a net margin of 38.95%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.45 earnings per share. On average, research analysts anticipate that Gaming and Leisure Properties will post 3.1 earnings per share for the current year.

In related news, Director E Scott Urdang purchased 5,000 shares of the company’s stock in a transaction on Thursday, December 13th. The stock was acquired at an average cost of $34.27 per share, for a total transaction of $171,350.00. Following the completion of the transaction, the director now directly owns 81,971 shares in the company, valued at $2,809,146.17. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Joseph W. Marshall III purchased 1,000 shares of the company’s stock in a transaction on Monday, November 19th. The shares were bought at an average price of $33.33 per share, with a total value of $33,330.00. Following the completion of the transaction, the director now owns 27,081 shares of the company’s stock, valued at $902,609.73. The disclosure for this purchase can be found here. Insiders have acquired 31,000 shares of company stock worth $1,045,260 over the last ninety days. 5.88% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Gaming and Leisure Properties by 1.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,107 shares of the real estate investment trust’s stock valued at $1,781,000 after acquiring an additional 551 shares during the last quarter. We Are One Seven LLC acquired a new stake in shares of Gaming and Leisure Properties during the fourth quarter valued at about $31,000. Schroder Investment Management Group increased its position in shares of Gaming and Leisure Properties by 1.4% during the third quarter. Schroder Investment Management Group now owns 112,560 shares of the real estate investment trust’s stock valued at $3,968,000 after acquiring an additional 1,548 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Gaming and Leisure Properties by 1.9% in the fourth quarter. State of Alaska Department of Revenue now owns 88,910 shares of the real estate investment trust’s stock valued at $2,871,000 after purchasing an additional 1,638 shares in the last quarter. Finally, Signition LP grew its holdings in shares of Gaming and Leisure Properties by 18.6% in the third quarter. Signition LP now owns 10,686 shares of the real estate investment trust’s stock valued at $377,000 after purchasing an additional 1,677 shares in the last quarter. Institutional investors and hedge funds own 87.19% 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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