Gaming and Leisure Properties (NASDAQ:GLPI) Raised to Buy at Zacks Investment Research

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Zacks Investment Research upgraded shares of Gaming and Leisure Properties (NASDAQ:GLPI) from a hold rating to a buy rating in a research report report published on Thursday, October 4th. They currently have $39.00 price objective 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. “

Other analysts have also recently issued reports about the stock. Deutsche Bank upped their price objective on shares of Gaming and Leisure Properties from $41.00 to $42.00 and gave the stock a buy rating in a research note on Wednesday, September 26th. BidaskClub raised shares of Gaming and Leisure Properties from a hold rating to a buy rating in a research note on Friday, June 22nd. SunTrust Banks reaffirmed a buy rating and set a $39.00 price objective on shares of Gaming and Leisure Properties in a research note on Tuesday, October 2nd. ValuEngine raised shares of Gaming and Leisure Properties from a sell rating to a hold rating in a research note on Friday, September 28th. Finally, Nomura initiated coverage on shares of Gaming and Leisure Properties in a research note on Wednesday, September 26th. They set a neutral rating and a $39.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Gaming and Leisure Properties currently has a consensus rating of Hold and a consensus price target of $39.50.

Gaming and Leisure Properties stock traded down $0.47 during trading hours on Thursday, hitting $34.06. 1,321,800 shares of the stock were exchanged, compared to its average volume of 1,249,475. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.89. The stock has a market capitalization of $7.54 billion, a price-to-earnings ratio of 10.87, a P/E/G ratio of 1.07 and a beta of 0.77. Gaming and Leisure Properties has a 12 month low of $32.51 and a 12 month high of $37.32.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.34). The firm had revenue of $254.22 million for the quarter, compared to the consensus estimate of $254.40 million. Gaming and Leisure Properties had a return on equity of 15.56% and a net margin of 38.54%. Gaming and Leisure Properties’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.45 earnings per share. As a group, equities research analysts predict that Gaming and Leisure Properties will post 3.07 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 21st. Stockholders of record on Friday, September 7th were given a dividend of $0.63 per share. The ex-dividend date was Thursday, September 6th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 7.40%. Gaming and Leisure Properties’s payout ratio is 80.00%.

Hedge funds have recently made changes to their positions in the company. Allianz Asset Management GmbH lifted its holdings in Gaming and Leisure Properties by 44.3% in the first quarter. Allianz Asset Management GmbH now owns 401,603 shares of the real estate investment trust’s stock valued at $13,442,000 after buying an additional 123,339 shares during the period. Paloma Partners Management Co acquired a new position in Gaming and Leisure Properties in the second quarter valued at approximately $1,465,000. Investec Asset Management LTD lifted its holdings in Gaming and Leisure Properties by 12.7% in the second quarter. Investec Asset Management LTD now owns 1,183,404 shares of the real estate investment trust’s stock valued at $42,366,000 after buying an additional 133,617 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in Gaming and Leisure Properties by 9.4% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 49,418 shares of the real estate investment trust’s stock valued at $1,769,000 after buying an additional 4,253 shares during the period. Finally, New York State Teachers Retirement System acquired a new position in Gaming and Leisure Properties in the second quarter valued at approximately $641,000. Institutional investors own 87.19% of the company’s stock.

Gaming and Leisure Properties Company Profile

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.

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