Zacks Investment Research Lowers Gaming and Leisure Properties, Inc. (GLPI) to Hold
Zacks Investment Research lowered shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) from a buy rating to a hold rating in a research note published on Wednesday.
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 subject of a number of other reports. Ladenburg Thalmann Financial Services set a $41.00 target price on Gaming and Leisure Properties and gave the company a buy rating in a research note on Monday, October 30th. SunTrust Banks, Inc. reissued a hold rating and issued a $38.00 target price on shares of Gaming and Leisure Properties in a research note on Tuesday, October 24th. Stifel Nicolaus reissued a hold rating and issued a $39.00 target price on shares of Gaming and Leisure Properties in a research note on Friday, July 28th. Barclays PLC boosted their target price on Gaming and Leisure Properties from $40.00 to $44.00 and gave the company an overweight rating in a research note on Wednesday, August 16th. Finally, BidaskClub lowered Gaming and Leisure Properties from a buy rating to a hold rating in a report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. Gaming and Leisure Properties presently has an average rating of Hold and a consensus target price of $38.86.
Gaming and Leisure Properties (GLPI) opened at $36.72 on Wednesday. The stock has a market capitalization of $7.73 billion, a price-to-earnings ratio of 11.52, a price-to-earnings-growth ratio of 3.82 and a beta of 0.86. The company has a current ratio of 0.62, a quick ratio of 0.93 and a debt-to-equity ratio of 1.78.
Gaming and Leisure Properties (NASDAQ:GLPI) last posted its earnings results on Thursday, October 26th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.45. Gaming and Leisure Properties had a return on equity of 17.37% and a net margin of 39.31%. The firm had revenue of $244.50 million during the quarter, compared to analysts’ expectations of $243.66 million. During the same period in the previous year, the firm earned $0.43 earnings per share. The company’s revenue was up 4.8% on a year-over-year basis. research analysts forecast that Gaming and Leisure Properties will post 3.09 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a $0.63 dividend. The ex-dividend date is Thursday, November 30th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 6.86%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is 140.00%.
In other news, Director E Scott Urdang purchased 5,000 shares of the business’s stock in a transaction dated Monday, October 30th. The shares were bought at an average cost of $36.23 per share, for a total transaction of $181,150.00. Following the completion of the acquisition, the director now directly owns 55,241 shares in the company, valued at approximately $2,001,381.43. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 5.88% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Mckinley Capital Management LLC Delaware bought a new stake in shares of Gaming and Leisure Properties in the second quarter valued at about $101,000. First Quadrant L P CA bought a new stake in Gaming and Leisure Properties during the third quarter worth about $151,000. Advisor Group Inc. raised its holdings in Gaming and Leisure Properties by 75.3% during the second quarter. Advisor Group Inc. now owns 4,650 shares of the real estate investment trust’s stock worth $143,000 after acquiring an additional 1,998 shares in the last quarter. CIBC Asset Management Inc bought a new stake in Gaming and Leisure Properties during the second quarter worth about $221,000. Finally, Neuberger Berman Group LLC bought a new stake in Gaming and Leisure Properties during the first quarter worth about $205,000. Institutional investors own 89.69% of the company’s stock.
About Gaming and Leisure Properties
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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