Zacks Investment Research Lowers Gaming and Leisure Properties (NASDAQ:GLPI) to Sell

Zacks Investment Research cut shares of Gaming and Leisure Properties (NASDAQ:GLPI) from a hold rating to a sell rating in a research note published on Monday, 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 research analysts have also issued reports on the stock. BidaskClub upgraded shares of Gaming and Leisure Properties from a strong sell rating to a sell rating in a report on Wednesday, July 31st. Stifel Nicolaus upgraded shares of Gaming and Leisure Properties from a hold rating to a buy rating and raised their price objective for the company from $39.00 to $43.00 in a report on Monday, April 15th. Deutsche Bank reiterated a buy rating and issued a $47.00 price objective on shares of Gaming and Leisure Properties in a report on Sunday, May 12th. Morgan Stanley set a $47.00 price objective on shares of Gaming and Leisure Properties and gave the company a buy rating in a report on Friday, August 9th. Finally, Scotiabank began coverage on shares of Gaming and Leisure Properties in a report on Monday, July 29th. They issued an outperform rating for the company. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $43.22.

Shares of NASDAQ GLPI opened at $37.39 on Monday. The firm has a 50 day simple moving average of $38.41. The company has a market cap of $8.12 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 1.25 and a beta of 0.53. Gaming and Leisure Properties has a 1 year low of $31.19 and a 1 year high of $40.82. The company has a current ratio of 2.99, a quick ratio of 2.99 and a debt-to-equity ratio of 2.72.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.33). The business had revenue of $289.01 million during the quarter, compared to the consensus estimate of $289.64 million. Gaming and Leisure Properties had a net margin of 29.69% and a return on equity of 14.79%. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.43 EPS. Analysts predict that Gaming and Leisure Properties will post 3.33 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC raised its holdings in Gaming and Leisure Properties by 100.3% during the 1st quarter. Signaturefd LLC now owns 721 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 361 shares during the last quarter. MUFG Americas Holdings Corp bought a new position in Gaming and Leisure Properties during the 2nd quarter worth approximately $38,000. Quadrant Capital Group LLC raised its holdings in Gaming and Leisure Properties by 39.9% during the 1st quarter. Quadrant Capital Group LLC now owns 988 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 282 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Gaming and Leisure Properties by 237.1% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 2,616 shares of the real estate investment trust’s stock worth $101,000 after purchasing an additional 1,840 shares during the last quarter. Finally, Altshuler Shaham Ltd raised its holdings in Gaming and Leisure Properties by 122.2% during the 2nd quarter. Altshuler Shaham Ltd now owns 2,682 shares of the real estate investment trust’s stock worth $105,000 after purchasing an additional 1,475 shares during the last quarter. Hedge funds and other institutional investors own 89.95% 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.

Read More: Why is the Consumer Price Index (CPI) important?

Get a free copy of the Zacks research report on Gaming and Leisure Properties (GLPI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Gaming and Leisure Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gaming and Leisure Properties and related companies with MarketBeat.com's FREE daily email newsletter.