Gaming and Leisure Properties (GLPI) Lowered to “Buy” at BidaskClub

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

Several other equities research analysts also recently commented on the company. Credit Suisse Group reissued an outperform rating and issued a $41.00 target price on shares of Gaming and Leisure Properties in a report on Wednesday, March 20th. Zacks Investment Research downgraded Gaming and Leisure Properties from a buy rating to a hold rating in a report on Friday, February 15th. Stifel Nicolaus raised Gaming and Leisure Properties from a hold rating to a buy rating and boosted their target price for the stock from $39.00 to $43.00 in a report on Monday, April 15th. Finally, Deutsche Bank reissued a buy rating and issued a $47.00 target price on shares of Gaming and Leisure Properties in a report on Sunday, May 12th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $41.70.

Shares of NASDAQ GLPI traded down $0.07 during mid-day trading on Friday, hitting $39.79. 1,227,729 shares of the stock traded hands, compared to its average volume of 938,725. The company has a quick ratio of 2.99, a current ratio of 2.99 and a debt-to-equity ratio of 2.72. Gaming and Leisure Properties has a 52 week low of $31.19 and a 52 week high of $40.69. The firm has a market capitalization of $8.54 billion, a PE ratio of 12.51, a P/E/G ratio of 0.96 and a beta of 0.56.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its earnings results on Wednesday, February 13th. The real estate investment trust reported $0.84 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.02. Gaming and Leisure Properties had a return on equity of 14.58% and a net margin of 30.54%. The business had revenue of $303.30 million for the quarter, compared to the consensus estimate of $306.12 million. During the same period in the previous year, the company posted $0.55 earnings per share. The company’s revenue for the quarter was up 26.0% compared to the same quarter last year. On average, research analysts anticipate that Gaming and Leisure Properties will post 3.35 earnings per share for the current year.

In other Gaming and Leisure Properties news, SVP Matthew Demchyk purchased 1,000 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The stock was purchased at an average price of $36.49 per share, for a total transaction of $36,490.00. Following the completion of the purchase, the senior vice president now directly owns 33,500 shares of the company’s stock, valued at $1,222,415. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Desiree A. Burke sold 41,458 shares of the business’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $39.06, for a total value of $1,619,349.48. Following the completion of the transaction, the chief accounting officer now owns 119,264 shares of the company’s stock, valued at approximately $4,658,451.84. The disclosure for this sale can be found here. Insiders own 5.88% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Vista Investment Management raised its stake in shares of Gaming and Leisure Properties by 7.0% in the first quarter. Vista Investment Management now owns 13,956 shares of the real estate investment trust’s stock worth $538,000 after purchasing an additional 908 shares during the last quarter. BlueCrest Capital Management Ltd purchased a new position in shares of Gaming and Leisure Properties in the first quarter worth $1,185,000. HighTower Advisors LLC purchased a new position in shares of Gaming and Leisure Properties in the first quarter worth $248,000. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Gaming and Leisure Properties by 14.7% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 17,142 shares of the real estate investment trust’s stock worth $647,000 after purchasing an additional 2,192 shares during the last quarter. Finally, Macquarie Group Ltd. raised its stake in shares of Gaming and Leisure Properties by 26.1% in the first quarter. Macquarie Group Ltd. now owns 144,981 shares of the real estate investment trust’s stock worth $5,592,000 after purchasing an additional 29,981 shares during the last quarter. Hedge funds and other institutional investors own 90.67% 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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