Gaming and Leisure Properties (NASDAQ:GLPI) Downgraded by StockNews.com

Gaming and Leisure Properties (NASDAQ:GLPI) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Several other research analysts have also commented on the company. Morgan Stanley cut their price objective on Gaming and Leisure Properties from $55.00 to $53.00 and set an “overweight” rating on the stock in a research report on Thursday, March 21st. Mizuho reduced their price target on Gaming and Leisure Properties from $50.00 to $47.00 and set a “neutral” rating on the stock in a research report on Thursday, March 7th. Royal Bank of Canada lowered their price objective on shares of Gaming and Leisure Properties from $49.00 to $47.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Finally, JMP Securities reissued a “market outperform” rating and set a $53.00 target price on shares of Gaming and Leisure Properties in a research report on Monday, March 4th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.91.

Gaming and Leisure Properties Trading Up 0.4 %

Shares of NASDAQ:GLPI traded up $0.19 during trading on Thursday, reaching $44.21. 1,166,128 shares of the stock were exchanged, compared to its average volume of 1,424,623. Gaming and Leisure Properties has a 12-month low of $41.80 and a 12-month high of $51.31. The firm’s 50-day moving average price is $44.52 and its 200 day moving average price is $45.70. The company has a debt-to-equity ratio of 1.49, a quick ratio of 6.47 and a current ratio of 6.47. The firm has a market cap of $12.00 billion, a price-to-earnings ratio of 16.31, a price-to-earnings-growth ratio of 5.08 and a beta of 0.95.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings data on Friday, April 26th. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.26). Gaming and Leisure Properties had a return on equity of 16.79% and a net margin of 50.05%. The business had revenue of $376.00 million for the quarter, compared to analysts’ expectations of $368.44 million. During the same quarter in the prior year, the firm earned $0.92 earnings per share. Gaming and Leisure Properties’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Gaming and Leisure Properties will post 3.66 earnings per share for the current fiscal year.

Insider Activity

In other news, Director E Scott Urdang purchased 2,500 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was acquired at an average cost of $45.00 per share, for a total transaction of $112,500.00. Following the completion of the purchase, the director now owns 156,685 shares of the company’s stock, valued at $7,050,825. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 4.40% of the company’s stock.

Institutional Trading of Gaming and Leisure Properties

Several institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new position in shares of Gaming and Leisure Properties in the 4th quarter valued at about $30,000. Operose Advisors LLC bought a new position in shares of Gaming and Leisure Properties during the third quarter valued at approximately $32,000. EdgeRock Capital LLC acquired a new stake in shares of Gaming and Leisure Properties during the 4th quarter worth approximately $33,000. MCF Advisors LLC lifted its holdings in shares of Gaming and Leisure Properties by 416.7% in the 1st quarter. MCF Advisors LLC now owns 744 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 600 shares during the last quarter. Finally, Mather Group LLC. acquired a new position in Gaming and Leisure Properties during the 1st quarter valued at approximately $42,000. Institutional investors own 91.14% 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.