Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) Given Average Recommendation of “Hold” by Brokerages
Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) has received an average recommendation of “Hold” from the ten brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $36.00.
GLPI has been the subject of a number of analyst reports. TheStreet upgraded shares of Gaming and Leisure Properties from a “c+” rating to a “b” rating in a research note on Monday, May 22nd. BidaskClub cut shares of Gaming and Leisure Properties from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 10th. Ladenburg Thalmann Financial Services initiated coverage on shares of Gaming and Leisure Properties in a research note on Friday, June 2nd. They set a “buy” rating and a $41.00 price target for the company. Zacks Investment Research upgraded shares of Gaming and Leisure Properties from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Wednesday, May 31st. Finally, Deutsche Bank AG raised their price target on shares of Gaming and Leisure Properties from $36.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, April 28th.
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In other Gaming and Leisure Properties news, Director Barry F. Schwartz purchased 10,000 shares of the business’s stock in a transaction on Friday, June 16th. The stock was purchased at an average price of $36.44 per share, for a total transaction of $364,400.00. Following the completion of the purchase, the director now directly owns 14,804 shares in the company, valued at $539,457.76. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.88% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its stake in Gaming and Leisure Properties by 8.5% in the second quarter. BlackRock Inc. now owns 13,614,488 shares of the real estate investment trust’s stock valued at $512,857,000 after buying an additional 1,070,254 shares during the last quarter. Renaissance Technologies LLC raised its stake in Gaming and Leisure Properties by 86.1% in the second quarter. Renaissance Technologies LLC now owns 5,086,489 shares of the real estate investment trust’s stock valued at $191,608,000 after buying an additional 2,353,055 shares during the last quarter. State Street Corp raised its stake in Gaming and Leisure Properties by 27.0% in the first quarter. State Street Corp now owns 3,928,376 shares of the real estate investment trust’s stock valued at $131,289,000 after buying an additional 835,670 shares during the last quarter. Broad Run Investment Management LLC raised its stake in Gaming and Leisure Properties by 3.1% in the first quarter. Broad Run Investment Management LLC now owns 3,607,663 shares of the real estate investment trust’s stock valued at $120,568,000 after buying an additional 107,844 shares during the last quarter. Finally, AJO LP purchased a new stake in Gaming and Leisure Properties during the second quarter valued at $126,547,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.
Gaming and Leisure Properties (NASDAQ:GLPI) traded up 0.80% during trading on Friday, hitting $37.60. The stock had a trading volume of 563,210 shares. Gaming and Leisure Properties has a 52 week low of $29.32 and a 52 week high of $38.89.
Gaming and Leisure Properties (NASDAQ:GLPI) last released its earnings results on Thursday, July 27th. The real estate investment trust reported $0.45 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by $0.32. Gaming and Leisure Properties had a net margin of 38.99% and a return on equity of 17.14%. The company had revenue of $243.40 million during the quarter, compared to the consensus estimate of $243.77 million. During the same quarter in the previous year, the business posted $0.39 EPS. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. On average, analysts predict that Gaming and Leisure Properties will post $1.80 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be paid a dividend of $0.63 per share. This is a boost from Gaming and Leisure Properties’s previous quarterly dividend of $0.62. The ex-dividend date is Thursday, September 7th. This represents a $2.52 dividend on an annualized basis and a yield of 6.70%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is currently 139.33%.
Gaming and Leisure Properties Company Profile
Gaming and Leisure Properties, Inc (GLPI) is a self-administered and self-managed Pennsylvania real estate investment trust (REIT). The Company is engaged in the business of acquiring, financing and owning real estate property to be leased to gaming operators in triple net lease arrangements. Its segments include GLP Capital, L.P.
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