Gaming and Leisure Properties (NASDAQ:GLPI) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of Gaming and Leisure Properties (NASDAQ:GLPIGet Rating) from a hold rating to a buy rating in a report issued on Saturday.

Several other analysts have also recently issued reports on GLPI. Bank of America cut Gaming and Leisure Properties from a buy rating to an underperform rating in a report on Monday, January 10th. Scotiabank lowered Gaming and Leisure Properties from a sector outperform rating to a sector perform rating in a research report on Wednesday, December 15th. Morgan Stanley reduced their price target on Gaming and Leisure Properties from $55.00 to $53.00 and set an overweight rating on the stock in a research report on Tuesday, January 18th. Berenberg Bank assumed coverage on Gaming and Leisure Properties in a research report on Thursday, January 20th. They issued a buy rating and a $54.00 price target on the stock. Finally, Zacks Investment Research raised Gaming and Leisure Properties from a sell rating to a hold rating in a research report on Monday, March 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus price target of $52.43.

Shares of GLPI opened at $46.27 on Friday. The company has a debt-to-equity ratio of 1.95, a quick ratio of 5.10 and a current ratio of 5.10. Gaming and Leisure Properties has a one year low of $41.81 and a one year high of $51.46. The stock has a market capitalization of $11.03 billion, a price-to-earnings ratio of 20.47, a PEG ratio of 9.52 and a beta of 1.05. The stock has a 50 day moving average price of $45.10 and a 200 day moving average price of $46.28.

Gaming and Leisure Properties (NASDAQ:GLPIGet Rating) last issued its quarterly earnings results on Wednesday, February 23rd. The real estate investment trust reported $0.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.36). Gaming and Leisure Properties had a return on equity of 18.33% and a net margin of 43.91%. The firm had revenue of $298.34 million for the quarter, compared to analysts’ expectations of $295.10 million. During the same quarter in the previous year, the firm posted $0.85 earnings per share. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. On average, analysts predict that Gaming and Leisure Properties will post 3.55 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 25th. Stockholders of record on Friday, March 11th were issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 5.96%. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.67. The ex-dividend date was Thursday, March 10th. Gaming and Leisure Properties’s payout ratio is presently 122.12%.

In other Gaming and Leisure Properties news, Director Barry F. Schwartz purchased 2,500 shares of Gaming and Leisure Properties stock in a transaction that occurred on Monday, March 14th. The stock was purchased at an average price of $44.77 per share, for a total transaction of $111,925.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Brandon John Moore sold 5,000 shares of the company’s stock in a transaction on Monday, March 28th. The shares were sold at an average price of $45.04, for a total transaction of $225,200.00. The disclosure for this sale can be found here. 5.53% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC raised its position in Gaming and Leisure Properties by 50.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 99,079 shares of the real estate investment trust’s stock worth $4,589,000 after buying an additional 33,327 shares during the last quarter. LSV Asset Management raised its position in Gaming and Leisure Properties by 0.9% during the 4th quarter. LSV Asset Management now owns 1,189,205 shares of the real estate investment trust’s stock worth $57,867,000 after buying an additional 10,770 shares during the last quarter. Teacher Retirement System of Texas raised its position in Gaming and Leisure Properties by 26.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 35,391 shares of the real estate investment trust’s stock worth $1,639,000 after buying an additional 7,414 shares during the last quarter. Russell Investments Group Ltd. raised its position in Gaming and Leisure Properties by 10.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 741,681 shares of the real estate investment trust’s stock worth $34,352,000 after buying an additional 67,194 shares during the last quarter. Finally, Wedbush Securities Inc. raised its position in Gaming and Leisure Properties by 62.1% during the 4th quarter. Wedbush Securities Inc. now owns 21,983 shares of the real estate investment trust’s stock worth $1,070,000 after buying an additional 8,422 shares during the last quarter. Institutional investors own 87.82% of the company’s stock.

Gaming and Leisure Properties Company Profile (Get Rating)

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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