Gaming and Leisure Properties (NASDAQ:GLPI) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Gaming and Leisure Properties (NASDAQ:GLPI) from a hold rating to a buy rating in a research note released on Tuesday, Zacks.com reports. They currently have $54.00 price target on the real estate investment trust’s stock.

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. “

Several other analysts also recently weighed in on the company. Morgan Stanley boosted their target price on Gaming and Leisure Properties from $50.00 to $52.00 and gave the company an overweight rating in a report on Wednesday, August 4th. Capital One Financial initiated coverage on Gaming and Leisure Properties in a report on Thursday, September 2nd. They issued an overweight rating and a $54.00 target price for the company. UBS Group raised Gaming and Leisure Properties from a neutral rating to a buy rating and boosted their target price for the company from $42.00 to $54.00 in a report on Wednesday, August 4th. Wolfe Research assumed coverage on Gaming and Leisure Properties in a report on Monday, June 14th. They issued a peer perform rating and a $52.00 target price for the company. Finally, Mizuho upped their price objective on Gaming and Leisure Properties from $50.00 to $52.00 and gave the company a buy rating in a research note on Thursday, August 5th. Thirteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus price target of $50.73.

Shares of NASDAQ GLPI opened at $48.17 on Tuesday. The company has a market capitalization of $11.29 billion, a price-to-earnings ratio of 19.66, a price-to-earnings-growth ratio of 4.19 and a beta of 1.01. The company has a debt-to-equity ratio of 2.13, a current ratio of 1.92 and a quick ratio of 1.92. The business has a 50-day moving average of $47.95 and a two-hundred day moving average of $46.15. Gaming and Leisure Properties has a 1 year low of $35.10 and a 1 year high of $51.46.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its earnings results on Thursday, July 29th. The real estate investment trust reported $0.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.01). Gaming and Leisure Properties had a net margin of 45.79% and a return on equity of 21.96%. As a group, equities research analysts expect that Gaming and Leisure Properties will post 3.36 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 24th. Shareholders of record on Friday, September 10th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 5.56%. The ex-dividend date is Thursday, September 9th. Gaming and Leisure Properties’s payout ratio is 77.68%.

In other Gaming and Leisure Properties news, EVP Brandon John Moore sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 1st. The stock was sold at an average price of $50.02, for a total transaction of $500,200.00. Following the transaction, the executive vice president now owns 156,502 shares in the company, valued at approximately $7,828,230.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.53% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in GLPI. Parisi Gray Wealth Management acquired a new stake in shares of Gaming and Leisure Properties in the 2nd quarter worth approximately $26,000. GeoWealth Management LLC acquired a new stake in shares of Gaming and Leisure Properties in the 2nd quarter worth approximately $29,000. First Manhattan Co. acquired a new stake in shares of Gaming and Leisure Properties in the 1st quarter worth approximately $32,000. FFT Wealth Management LLC acquired a new stake in shares of Gaming and Leisure Properties in the 2nd quarter worth approximately $33,000. Finally, PNC Managed Account Solutions Inc. acquired a new stake in shares of Gaming and Leisure Properties in the 2nd quarter worth approximately $38,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

Gaming and Leisure Properties Company Profile

Gaming & Leisure Properties, Inc is engaged in acquiring, financing, and owning real estate property to be leased to gaming operators in triple net lease arrangements. It operates through the GLP Capital and TRS Properties segments. The GLP Capital segment consists of the leased real property and represents the majority of business.

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

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