Gaming and Leisure Properties (NASDAQ:GLPI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, 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. “

GLPI has been the topic of a number of other reports. Nomura set a $42.00 price objective on shares of Gaming and Leisure Properties and gave the company a “hold” rating in a report on Wednesday, August 7th. 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. BidaskClub lowered shares of Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a report on Friday. Finally, Scotiabank began coverage on shares of Gaming and Leisure Properties in a report on Monday, July 29th. They issued an “outperform” rating on the stock. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Gaming and Leisure Properties presently has an average rating of “Buy” and an average price target of $43.22.

GLPI stock traded up $0.34 during midday trading on Tuesday, hitting $38.46. The company’s stock had a trading volume of 635,962 shares, compared to its average volume of 1,197,319. The company has a quick ratio of 4.80, a current ratio of 4.80 and a debt-to-equity ratio of 2.78. Gaming and Leisure Properties has a 52-week low of $31.19 and a 52-week high of $40.82. The firm has a market capitalization of $8.26 billion, a P/E ratio of 12.09, a PEG ratio of 1.25 and a beta of 0.53. The firm has a 50-day simple moving average of $38.17 and a 200-day simple moving average of $38.74.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.33). Gaming and Leisure Properties had a net margin of 29.69% and a return on equity of 14.98%. The business had revenue of $289.01 million during the quarter, compared to analysts’ expectations of $289.64 million. During the same period in the prior year, the business earned $0.43 EPS. The business’s quarterly revenue was up 13.7% on a year-over-year basis. On average, sell-side analysts expect that Gaming and Leisure Properties will post 3.33 earnings per share for the current fiscal year.

In related news, SVP Matthew Demchyk purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were purchased at an average cost of $37.57 per share, for a total transaction of $187,850.00. Following the purchase, the senior vice president now directly owns 42,500 shares of the company’s stock, valued at $1,596,725. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.05% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the business. Signaturefd LLC grew its position 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 purchased a new position in Gaming and Leisure Properties during the 2nd quarter worth $38,000. DekaBank Deutsche Girozentrale grew its position 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. Altshuler Shaham Ltd grew its position 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. Finally, Bessemer Group Inc. purchased a new position in Gaming and Leisure Properties during the 2nd quarter worth $119,000. 89.54% of the stock is currently owned by institutional investors.

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.

Read More: Catch-Up Contributions

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.